Albemarle Corporation $ALB Shares Sold by Waldron Private Wealth LLC

Waldron Private Wealth LLC reduced its holdings in Albemarle Corporation (NYSE:ALB) by 29.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,386 shares of the specialty chemicals company’s stock after selling 1,426 shares during the quarter. Waldron Private Wealth LLC’s holdings in Albemarle were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. CVA Family Office LLC increased its stake in Albemarle by 7,257.1% in the second quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 508 shares during the last quarter. Brian Low Financial Group LLC acquired a new position in Albemarle in the second quarter valued at $377,000. Ethic Inc. increased its stake in Albemarle by 30.6% in the second quarter. Ethic Inc. now owns 32,780 shares of the specialty chemicals company’s stock valued at $2,129,000 after purchasing an additional 7,685 shares during the last quarter. Pacific Heights Asset Management LLC increased its stake in Albemarle by 85.7% in the second quarter. Pacific Heights Asset Management LLC now owns 130,000 shares of the specialty chemicals company’s stock valued at $8,147,000 after purchasing an additional 60,000 shares during the last quarter. Finally, Sanders Morris Harris LLC increased its stake in Albemarle by 90.0% in the second quarter. Sanders Morris Harris LLC now owns 9,500 shares of the specialty chemicals company’s stock valued at $595,000 after purchasing an additional 4,500 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Price Performance

Shares of NYSE ALB opened at $105.65 on Monday. Albemarle Corporation has a 1-year low of $49.43 and a 1-year high of $113.91. The business has a 50-day moving average of $85.52 and a 200-day moving average of $71.54. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.31 and a quick ratio of 1.47. The company has a market capitalization of $12.43 billion, a price-to-earnings ratio of -11.34 and a beta of 1.65.

Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.94. Albemarle had a negative return on equity of 1.87% and a negative net margin of 18.61%.The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the business earned $0.04 earnings per share. The company’s revenue was down 7.0% compared to the same quarter last year. Albemarle has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Albemarle Corporation will post -0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ALB shares. Mizuho upped their target price on Albemarle from $78.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Rothschild & Co Redburn started coverage on Albemarle in a research report on Friday. They set a “buy” rating and a $135.00 price target for the company. Wells Fargo & Company boosted their price target on Albemarle from $70.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft boosted their price target on Albemarle from $74.00 to $95.00 in a research report on Friday, October 17th. Finally, Jefferies Financial Group boosted their price target on Albemarle from $90.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $95.33.

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.