Albemarle Corporation $ALB Shares Acquired by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. grew its position in Albemarle Corporation (NYSE:ALB) by 197.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,651 shares of the specialty chemicals company’s stock after purchasing an additional 30,948 shares during the period. TD Waterhouse Canada Inc.’s holdings in Albemarle were worth $4,935,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Evexia Wealth LLC increased its position in Albemarle by 2.3% during the 1st quarter. Evexia Wealth LLC now owns 2,088 shares of the specialty chemicals company’s stock worth $387,000 after purchasing an additional 47 shares in the last quarter. Sigma Planning Corp raised its holdings in Albemarle by 2.3% in the first quarter. Sigma Planning Corp now owns 2,952 shares of the specialty chemicals company’s stock valued at $530,000 after buying an additional 66 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Albemarle by 0.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,452 shares of the specialty chemicals company’s stock valued at $4,928,000 after buying an additional 75 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Albemarle by 0.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,664 shares of the specialty chemicals company’s stock valued at $2,082,000 after buying an additional 75 shares in the last quarter. Finally, Cadence Wealth Management LLC lifted its position in Albemarle by 1.8% during the first quarter. Cadence Wealth Management LLC now owns 4,982 shares of the specialty chemicals company’s stock valued at $894,000 after buying an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Albemarle Price Performance

ALB stock opened at $94.63 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.35 and a current ratio of 2.09. Albemarle Corporation has a 1 year low of $88.01 and a 1 year high of $221.00. The firm has a market cap of $11.17 billion, a P/E ratio of 350.50, a price-to-earnings-growth ratio of 0.56 and a beta of 1.36. The stock has a 50-day simple moving average of $118.61 and a 200-day simple moving average of $144.90.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, August 5th. The specialty chemicals company reported $3.75 EPS for the quarter, beating the consensus estimate of $3.20 by $0.55. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.61 billion. Albemarle had a return on equity of 10.96% and a net margin of 3.09%. The company’s revenue was up 31.1% on a year-over-year basis. During the same period last year, the business posted $0.11 EPS. On average, equities analysts predict that Albemarle Corporation will post 11.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada decreased their price objective on shares of Albemarle from $157.00 to $129.00 and set an “outperform” rating for the company in a research note on Thursday, October 15th. BMO Capital Markets reissued an “outperform” rating and issued a $175.00 price objective on shares of Albemarle in a research report on Tuesday, October 6th. Citigroup cut their target price on shares of Albemarle from $225.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Rothschild & Co Redburn reduced their target price on shares of Albemarle from $188.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, July 1st. Finally, Morgan Stanley restated a “reduce” rating and set a $161.00 target price on shares of Albemarle in a report on Monday, August 10th. Sixteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $180.74.

About Albemarle

Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company headquartered in Charlotte, North Carolina. The company develops, manufactures, and markets engineered chemicals used in energy storage, transportation, refining, pharmaceuticals, agriculture, consumer products, and other industrial applications.

Albemarle is one of the world’s major producers of lithium and supplies lithium compounds, including lithium carbonate and lithium hydroxide, for use in rechargeable batteries for electric vehicles, portable electronics, and grid energy-storage systems.