Wakefield Asset Management LLLP purchased a new position in shares of Albemarle Co. (NYSE:ALB – Get Rating) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,285 shares of the specialty chemicals company’s stock, valued at approximately $2,456,000. Albemarle comprises approximately 1.1% of Wakefield Asset Management LLLP’s portfolio, making the stock its 28th largest holding.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Fairfield Bush & CO. lifted its holdings in Albemarle by 15.0% during the 1st quarter. Fairfield Bush & CO. now owns 5,565 shares of the specialty chemicals company’s stock valued at $1,231,000 after buying an additional 725 shares in the last quarter. Raymond James Trust N.A. lifted its stake in Albemarle by 17.5% in the first quarter. Raymond James Trust N.A. now owns 4,377 shares of the specialty chemicals company’s stock worth $968,000 after acquiring an additional 651 shares during the period. Synovus Financial Corp lifted its stake in Albemarle by 186.4% in the first quarter. Synovus Financial Corp now owns 2,898 shares of the specialty chemicals company’s stock worth $635,000 after acquiring an additional 1,886 shares during the period. Cibc World Market Inc. increased its position in Albemarle by 5.0% during the 1st quarter. Cibc World Market Inc. now owns 8,785 shares of the specialty chemicals company’s stock valued at $1,943,000 after purchasing an additional 418 shares during the period. Finally, Blair William & Co. IL increased its position in Albemarle by 8.0% during the 1st quarter. Blair William & Co. IL now owns 3,859 shares of the specialty chemicals company’s stock valued at $853,000 after purchasing an additional 286 shares during the period. 82.24% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of Albemarle from $345.00 to $295.00 and set a “buy” rating on the stock in a research note on Thursday, December 15th. Berenberg Bank downgraded shares of Albemarle from a “buy” rating to a “hold” rating and raised their target price for the company from $260.00 to $270.00 in a research note on Thursday, October 13th. Robert W. Baird upped their price target on Albemarle from $298.00 to $305.00 in a research report on Wednesday. Jefferies Financial Group reissued a “buy” rating and issued a $350.00 price objective on shares of Albemarle in a research report on Friday, September 30th. Finally, StockNews.com assumed coverage on Albemarle in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Albemarle currently has a consensus rating of “Hold” and an average target price of $293.58.
Insider Activity at Albemarle
Albemarle Stock Performance
Albemarle stock traded down $0.98 during midday trading on Wednesday, hitting $263.61. 81,288 shares of the company were exchanged, compared to its average volume of 1,454,349. Albemarle Co. has a fifty-two week low of $169.93 and a fifty-two week high of $334.55. The firm has a market capitalization of $30.88 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 0.60 and a beta of 1.45. The business has a fifty day simple moving average of $248.26 and a two-hundred day simple moving average of $259.38. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.73.
Albemarle (NYSE:ALB – Get Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The specialty chemicals company reported $7.50 EPS for the quarter, topping analysts’ consensus estimates of $6.84 by $0.66. Albemarle had a net margin of 27.77% and a return on equity of 26.84%. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter last year, the company earned $1.05 EPS. The business’s revenue was up 151.9% on a year-over-year basis. On average, sell-side analysts forecast that Albemarle Co. will post 20.95 earnings per share for the current year.
Albemarle Corp. engages in the development, manufacture, and marketing of chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, transportation, pharmaceuticals, crop production, food-safety, and custom chemistry services. It operates through the following segments: Lithium, Bromine, Catalysts, and All Other.
- Get a free copy of the StockNews.com research report on Albemarle (ALB)
- Pliant Therapeutics Gaps 34% Higher: More Upside To Come?
- How Will Early 2023 Layoffs Affect These 5 Biotech Stocks?
- Is the Pain Over for Baudax Bio Investors after a 70% Spike?
- Will Rocket Lab’s First U.S. Launch Send Stock Into Stratosphere?
- 3 Retail Stocks Ringing the Register in 2023
Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.