Albemarle Corporation $ALB Stock Purchased by Robeco Schweiz AG

Robeco Schweiz AG lifted its holdings in Albemarle Corporation (NYSE:ALB) by 53.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 359,099 shares of the specialty chemicals company’s stock after purchasing an additional 124,328 shares during the quarter. Robeco Schweiz AG’s holdings in Albemarle were worth $37,985,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC raised its stake in Albemarle by 598.4% in the third quarter. Signaturefd LLC now owns 9,869 shares of the specialty chemicals company’s stock valued at $1,044,000 after buying an additional 8,456 shares during the last quarter. Sowell Financial Services LLC boosted its holdings in Albemarle by 124.0% in the third quarter. Sowell Financial Services LLC now owns 6,934 shares of the specialty chemicals company’s stock worth $733,000 after acquiring an additional 3,838 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in Albemarle by 931.8% in the third quarter. Manchester Capital Management LLC now owns 1,847 shares of the specialty chemicals company’s stock worth $195,000 after acquiring an additional 1,668 shares in the last quarter. Farmers & Merchants Investments Inc. grew its stake in shares of Albemarle by 9.2% during the third quarter. Farmers & Merchants Investments Inc. now owns 36,123 shares of the specialty chemicals company’s stock worth $3,821,000 after acquiring an additional 3,056 shares during the last quarter. Finally, Wedbush Securities Inc. grew its stake in shares of Albemarle by 83.9% during the third quarter. Wedbush Securities Inc. now owns 9,309 shares of the specialty chemicals company’s stock worth $985,000 after acquiring an additional 4,246 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Stock Up 1.3%

Shares of ALB stock opened at $93.72 on Friday. The stock’s 50-day simple moving average is $115.66 and its 200-day simple moving average is $142.77. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.35 and a current ratio of 2.09. The firm has a market capitalization of $11.06 billion, a PE ratio of 347.14, a P/E/G ratio of 0.56 and a beta of 1.36. Albemarle Corporation has a fifty-two week low of $88.01 and a fifty-two week high of $221.00.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, August 5th. The specialty chemicals company reported $3.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.55. Albemarle had a return on equity of 10.96% and a net margin of 3.09%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the business posted $0.11 earnings per share. The company’s revenue for the quarter was up 31.1% compared to the same quarter last year. Equities analysts expect that Albemarle Corporation will post 11.19 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group cut their price objective on shares of Albemarle from $244.00 to $211.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. BMO Capital Markets reiterated an “outperform” rating and issued a $175.00 target price on shares of Albemarle in a research note on Tuesday, October 6th. Argus dropped their target price on shares of Albemarle from $230.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, October 7th. Rothschild & Co Redburn dropped their target price on shares of Albemarle from $188.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 1st. Finally, Truist Financial cut their price target on shares of Albemarle from $225.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday. Fifteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Albemarle currently has a consensus rating of “Hold” and a consensus price target of $179.41.

Albemarle Company 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.