Albemarle Corporation $ALB Position Lifted by CVA Family Office LLC

CVA Family Office LLC grew its stake in shares of Albemarle Corporation (NYSE:ALB) by 7,257.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 515 shares of the specialty chemicals company’s stock after purchasing an additional 508 shares during the quarter. CVA Family Office LLC’s holdings in Albemarle were worth $32,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Cambridge Investment Research Advisors Inc. lifted its position in shares of Albemarle by 24.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 43,541 shares of the specialty chemicals company’s stock worth $3,136,000 after purchasing an additional 8,572 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Albemarle by 15.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 3,474 shares of the specialty chemicals company’s stock valued at $250,000 after buying an additional 458 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in Albemarle by 1.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 44,729 shares of the specialty chemicals company’s stock worth $3,221,000 after buying an additional 779 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Albemarle by 9.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 28,413 shares of the specialty chemicals company’s stock worth $2,046,000 after acquiring an additional 2,426 shares in the last quarter. Finally, Money Concepts Capital Corp acquired a new position in shares of Albemarle in the 1st quarter worth approximately $710,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Stock Up 8.5%

ALB stock opened at $105.65 on Monday. The stock has a market cap of $12.43 billion, a PE ratio of -11.34 and a beta of 1.65. The firm’s 50-day simple moving average is $85.52 and its 200 day simple moving average is $71.54. Albemarle Corporation has a fifty-two week low of $49.43 and a fifty-two week high of $113.91. The company has a quick ratio of 1.47, a current ratio of 2.31 and a debt-to-equity ratio of 0.38.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.94. Albemarle had a negative net margin of 18.61% and a negative return on equity of 1.87%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the business posted $0.04 EPS. Albemarle’s revenue was down 7.0% on a year-over-year basis. Albemarle has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Albemarle Corporation will post -0.04 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Bank of America reissued a “neutral” rating and set a $100.00 price target (up from $95.00) on shares of Albemarle in a research report on Tuesday, October 14th. UBS Group dropped their target price on shares of Albemarle from $89.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. HSBC lifted their price target on shares of Albemarle from $60.00 to $75.00 and gave the company a “hold” rating in a report on Monday, September 22nd. TD Cowen increased their price objective on shares of Albemarle from $70.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Albemarle in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $95.33.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.