Tandem Capital Management Corp ADV Sells 1,855 Shares of Albemarle Corporation $ALB

Tandem Capital Management Corp ADV trimmed its position in shares of Albemarle Corporation (NYSE:ALB) by 26.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,288 shares of the specialty chemicals company’s stock after selling 1,855 shares during the period. Tandem Capital Management Corp ADV’s holdings in Albemarle were worth $331,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. National Pension Service raised its position in shares of Albemarle by 74.5% during the 1st quarter. National Pension Service now owns 452 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 193 shares during the period. Costello Asset Management INC bought a new stake in shares of Albemarle during the 1st quarter valued at $36,000. Evermay Wealth Management LLC raised its position in shares of Albemarle by 84.1% during the 1st quarter. Evermay Wealth Management LLC now owns 670 shares of the specialty chemicals company’s stock valued at $48,000 after purchasing an additional 306 shares during the period. Smartleaf Asset Management LLC grew its stake in Albemarle by 54.4% during the first quarter. Smartleaf Asset Management LLC now owns 727 shares of the specialty chemicals company’s stock valued at $52,000 after acquiring an additional 256 shares in the last quarter. Finally, ST Germain D J Co. Inc. purchased a new position in Albemarle during the second quarter valued at $47,000. 92.87% of the stock is currently owned by institutional investors.

Albemarle Price Performance

Albemarle stock opened at $91.68 on Thursday. The stock has a market cap of $10.79 billion, a price-to-earnings ratio of -9.84 and a beta of 1.65. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.31 and a quick ratio of 1.47. Albemarle Corporation has a 1 year low of $49.43 and a 1 year high of $113.91. The firm has a 50-day moving average of $80.37 and a two-hundred day moving average of $69.11.

Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.94. Albemarle had a negative net margin of 18.61% and a negative return on equity of 1.87%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the company earned $0.04 EPS. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. Albemarle has set its FY 2025 guidance at EPS. On average, research analysts forecast that Albemarle Corporation will post -0.04 earnings per share for the current year.

Albemarle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were given a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.62 dividend on an annualized basis and a yield of 1.8%. Albemarle’s dividend payout ratio is presently -17.38%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ALB shares. JPMorgan Chase & Co. raised their target price on shares of Albemarle from $60.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, August 18th. Wall Street Zen raised shares of Albemarle from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Albemarle in a research note on Wednesday. Scotiabank raised their target price on shares of Albemarle from $65.00 to $70.00 and gave the company a “sector perform” rating in a research note on Friday, August 1st. Finally, HSBC lifted their price objective on shares of Albemarle from $60.00 to $75.00 and gave the stock a “hold” rating in a research note on Monday, September 22nd. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Albemarle has an average rating of “Reduce” and an average price target of $87.47.

Albemarle Company Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.