Signaturefd LLC Has $276,000 Stock Position in Albemarle Co. (NYSE:ALB)

Signaturefd LLC boosted its position in shares of Albemarle Co. (NYSE:ALB) by 213.1% in the third quarter, Holdings Channel.com reports. The firm owned 2,918 shares of the specialty chemicals company’s stock after purchasing an additional 1,986 shares during the period. Signaturefd LLC’s holdings in Albemarle were worth $276,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ALB. Jane Street Group LLC boosted its position in Albemarle by 176.6% during the first quarter. Jane Street Group LLC now owns 1,588,986 shares of the specialty chemicals company’s stock valued at $209,333,000 after purchasing an additional 3,662,117 shares during the last quarter. Capital World Investors acquired a new stake in Albemarle during the first quarter valued at $49,007,000. PGGM Investments lifted its position in shares of Albemarle by 261.6% in the first quarter. PGGM Investments now owns 413,492 shares of the specialty chemicals company’s stock worth $54,473,000 after buying an additional 299,148 shares during the last quarter. HB Wealth Management LLC lifted its position in shares of Albemarle by 115.7% in the second quarter. HB Wealth Management LLC now owns 542,200 shares of the specialty chemicals company’s stock worth $51,791,000 after buying an additional 290,862 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Albemarle by 22.9% in the first quarter. ProShare Advisors LLC now owns 1,423,897 shares of the specialty chemicals company’s stock worth $187,584,000 after buying an additional 265,313 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Stock Down 1.7 %

Shares of ALB opened at $93.51 on Friday. The company has a market capitalization of $10.99 billion, a P/E ratio of 34.00, a PEG ratio of 13.81 and a beta of 1.54. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.67 and a quick ratio of 1.75. Albemarle Co. has a one year low of $71.97 and a one year high of $153.54. The business’s 50 day simple moving average is $91.35 and its 200-day simple moving average is $101.77.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, July 31st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.49). Albemarle had a positive return on equity of 6.38% and a negative net margin of 6.72%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the company posted $7.33 EPS. The firm’s quarterly revenue was down 39.7% compared to the same quarter last year. As a group, sell-side analysts predict that Albemarle Co. will post 0.46 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on ALB. JPMorgan Chase & Co. reduced their price target on Albemarle from $115.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. Evercore ISI dropped their price objective on Albemarle from $190.00 to $170.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 28th. Royal Bank of Canada dropped their price objective on Albemarle from $128.00 to $111.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Piper Sandler dropped their price objective on Albemarle from $95.00 to $90.00 and set an “underweight” rating on the stock in a research note on Thursday, August 8th. Finally, Mizuho lowered their price target on Albemarle from $128.00 to $103.00 in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $117.30.

Albemarle Profile

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.