Albemarle Corporation $ALB Stock Holdings Lifted by Sava Infond d.o.o.

Sava Infond d.o.o. grew its stake in shares of Albemarle Corporation (NYSE:ALB) by 36.3% in the third quarter, Holdings Channel.com reports. The fund owned 54,410 shares of the specialty chemicals company’s stock after buying an additional 14,500 shares during the quarter. Sava Infond d.o.o.’s holdings in Albemarle were worth $4,412,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Hantz Financial Services Inc. raised its position in shares of Albemarle by 10,050.0% during the second quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 402 shares during the period. CVA Family Office LLC increased its stake in Albemarle by 7,257.1% in the 2nd quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 508 shares in the last quarter. Cromwell Holdings LLC raised its holdings in Albemarle by 36.8% during the 3rd quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 111 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Albemarle by 536.7% during the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 483 shares in the last quarter. Finally, Physician Wealth Advisors Inc. acquired a new position in shares of Albemarle in the third quarter worth about $40,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Price Performance

Shares of NYSE:ALB opened at $168.33 on Friday. The firm has a market cap of $19.84 billion, a price-to-earnings ratio of -29.28, a P/E/G ratio of 1.76 and a beta of 1.44. Albemarle Corporation has a 1 year low of $49.43 and a 1 year high of $195.68. The company has a current ratio of 2.23, a quick ratio of 1.57 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $161.88 and a 200 day simple moving average of $118.49.

Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.13). Albemarle had a positive return on equity of 0.41% and a negative net margin of 10.74%.The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the company earned ($1.09) earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, sell-side analysts predict that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Albemarle from $195.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Rothschild & Co Redburn boosted their target price on shares of Albemarle from $158.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Mizuho raised their target price on Albemarle from $156.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Evercore lifted their price target on Albemarle from $100.00 to $180.00 in a report on Wednesday. Finally, Bank of America raised Albemarle from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $167.00 to $190.00 in a research note on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $167.52.

Albemarle Profile

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.