Albemarle Co. (NYSE:ALB) Shares Acquired by Signaturefd LLC

Signaturefd LLC lifted its stake in shares of Albemarle Co. (NYSE:ALB) by 213.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,918 shares of the specialty chemicals company’s stock after purchasing an additional 1,986 shares during the quarter. Signaturefd LLC’s holdings in Albemarle were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ALB. WFA Asset Management Corp bought a new stake in Albemarle during the 1st quarter valued at $25,000. First Community Trust NA bought a new stake in Albemarle during the 2nd quarter valued at $25,000. CVA Family Office LLC raised its stake in Albemarle by 610.0% during the 2nd quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 244 shares in the last quarter. ORG Partners LLC raised its stake in Albemarle by 2,142.1% during the 2nd quarter. ORG Partners LLC now owns 426 shares of the specialty chemicals company’s stock valued at $42,000 after acquiring an additional 407 shares in the last quarter. Finally, Independence Bank of Kentucky bought a new stake in Albemarle during the 2nd quarter valued at $43,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Stock Performance

Shares of ALB stock opened at $93.51 on Friday. Albemarle Co. has a 1-year low of $71.97 and a 1-year high of $153.54. The company has a current ratio of 2.67, a quick ratio of 1.75 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $10.99 billion, a price-to-earnings ratio of 34.00, a P/E/G ratio of 13.81 and a beta of 1.54. The stock’s fifty day simple moving average is $91.35 and its 200-day simple moving average is $101.77.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, July 31st. The specialty chemicals company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.49). Albemarle had a negative net margin of 6.72% and a positive return on equity of 6.38%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the firm posted $7.33 EPS. The business’s quarterly revenue was down 39.7% compared to the same quarter last year. On average, sell-side analysts predict that Albemarle Co. will post 0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Piper Sandler cut their target price on Albemarle from $95.00 to $90.00 and set an “underweight” rating on the stock in a research note on Thursday, August 8th. Robert W. Baird cut their target price on Albemarle from $85.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday. KeyCorp lowered their price target on Albemarle from $151.00 to $132.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Evercore ISI lowered their price target on Albemarle from $190.00 to $170.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 28th. Finally, Baird R W cut Albemarle from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $117.30.

Albemarle 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.