Albemarle Corporation $ALB Stock Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its holdings in Albemarle Corporation (NYSE:ALB) by 243.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 155,693 shares of the specialty chemicals company’s stock after purchasing an additional 110,326 shares during the period. Nisa Investment Advisors LLC owned about 0.13% of Albemarle worth $16,469,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ALB. Robeco Institutional Asset Management B.V. lifted its position in shares of Albemarle by 2,981.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 733,793 shares of the specialty chemicals company’s stock worth $77,621,000 after purchasing an additional 709,977 shares in the last quarter. Revisor Wealth Management LLC boosted its holdings in Albemarle by 29.7% during the third quarter. Revisor Wealth Management LLC now owns 3,519 shares of the specialty chemicals company’s stock worth $372,000 after purchasing an additional 805 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Albemarle by 1,565.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,451 shares of the specialty chemicals company’s stock worth $6,289,000 after purchasing an additional 55,881 shares during the last quarter. CWA Asset Management Group LLC grew its position in Albemarle by 15.9% in the third quarter. CWA Asset Management Group LLC now owns 24,241 shares of the specialty chemicals company’s stock valued at $2,564,000 after purchasing an additional 3,322 shares in the last quarter. Finally, IFP Advisors Inc grew its position in Albemarle by 358.7% in the third quarter. IFP Advisors Inc now owns 9,073 shares of the specialty chemicals company’s stock valued at $960,000 after purchasing an additional 7,095 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Albemarle from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Mizuho upgraded shares of Albemarle from a “neutral” rating to an “outperform” rating and set a $130.00 price objective for the company in a research note on Wednesday, October 14th. BMO Capital Markets restated an “outperform” rating and set a $175.00 price objective on shares of Albemarle in a research note on Tuesday, October 6th. Truist Financial decreased their price objective on Albemarle from $225.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Royal Bank Of Canada lowered their target price on Albemarle from $157.00 to $129.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Sixteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Albemarle presently has an average rating of “Moderate Buy” and a consensus target price of $179.00.

Albemarle Price Performance

NYSE:ALB opened at $94.39 on Thursday. Albemarle Corporation has a 1-year low of $88.01 and a 1-year high of $221.00. The company has a current ratio of 2.09, a quick ratio of 1.35 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $117.26 and a 200 day simple moving average of $143.72. The stock has a market capitalization of $11.14 billion, a PE ratio of 349.62, a P/E/G ratio of 0.57 and a beta of 1.36.

Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, August 5th. The specialty chemicals company reported $3.75 earnings per share for the quarter, topping analysts’ consensus estimates of $3.20 by $0.55. Albemarle had a net margin of 3.09% and a return on equity of 10.96%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the company earned $0.11 earnings per share. The firm’s revenue for the quarter was up 31.1% on a year-over-year basis. On average, research analysts expect that Albemarle Corporation will post 11.19 EPS for the current fiscal year.

Albemarle Profile

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.