Investors Buy Shares of Albemarle (ALB) on Weakness

Traders purchased shares of Albemarle Co. (NYSE:ALB) on weakness during trading hours on Wednesday. $65.97 million flowed into the stock on the tick-up and $33.75 million flowed out of the stock on the tick-down, for a money net flow of $32.22 million into the stock. Of all stocks tracked, Albemarle had the 28th highest net in-flow for the day. Albemarle traded down ($1.57) for the day and closed at $113.01

A number of equities research analysts recently commented on ALB shares. Seaport Global Securities reiterated a “hold” rating and issued a $130.00 target price on shares of Albemarle in a research report on Monday, February 5th. Robert W. Baird reiterated a “hold” rating and issued a $135.00 target price on shares of Albemarle in a research report on Wednesday, November 1st. UBS Group upgraded Albemarle from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $113.00 to $150.00 in a research report on Tuesday, January 30th. Oppenheimer reiterated a “buy” rating on shares of Albemarle in a research report on Wednesday, January 17th. Finally, Jefferies Group decreased their target price on Albemarle to $150.00 and set a “buy” rating on the stock in a research report on Friday, January 19th. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $128.88.

The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $12,490.00, a PE ratio of 40.36, a PEG ratio of 1.48 and a beta of 1.56.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALB. Bank of New York Mellon Corp grew its stake in shares of Albemarle by 258.1% during the third quarter. Bank of New York Mellon Corp now owns 4,561,987 shares of the specialty chemicals company’s stock valued at $621,845,000 after buying an additional 3,287,989 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Albemarle by 21.4% during the third quarter. Jennison Associates LLC now owns 7,797,076 shares of the specialty chemicals company’s stock valued at $1,062,819,000 after buying an additional 1,375,546 shares during the last quarter. Global X Management Co. LLC grew its stake in shares of Albemarle by 497.9% during the fourth quarter. Global X Management Co. LLC now owns 1,506,961 shares of the specialty chemicals company’s stock valued at $192,725,000 after buying an additional 1,254,927 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Albemarle by 95.3% during the third quarter. Janus Henderson Group PLC now owns 1,595,684 shares of the specialty chemicals company’s stock valued at $217,507,000 after buying an additional 778,649 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of Albemarle by 98.8% during the third quarter. Allianz Asset Management GmbH now owns 1,307,904 shares of the specialty chemicals company’s stock valued at $178,281,000 after buying an additional 650,158 shares during the last quarter. 87.23% of the stock is currently owned by hedge funds and other institutional investors.

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Albemarle Company Profile

Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.

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