Ingalls & Snyder LLC Has $333,000 Stock Position in Albemarle Corporation $ALB

Ingalls & Snyder LLC decreased its position in Albemarle Corporation (NYSE:ALB) by 4.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 5,313 shares of the specialty chemicals company’s stock after selling 230 shares during the period. Ingalls & Snyder LLC’s holdings in Albemarle were worth $333,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALB. FengHe Fund Management Pte. Ltd. acquired a new position in Albemarle in the second quarter valued at about $32,903,000. PGGM Investments grew its position in shares of Albemarle by 90.4% in the 2nd quarter. PGGM Investments now owns 1,069,924 shares of the specialty chemicals company’s stock valued at $67,052,000 after purchasing an additional 507,975 shares during the period. Nuveen LLC acquired a new position in shares of Albemarle in the 1st quarter valued at approximately $26,836,000. Dimensional Fund Advisors LP grew its position in shares of Albemarle by 28.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,538,706 shares of the specialty chemicals company’s stock valued at $110,814,000 after purchasing an additional 343,210 shares during the period. Finally, Vest Financial LLC grew its position in shares of Albemarle by 55.4% in the 2nd quarter. Vest Financial LLC now owns 959,978 shares of the specialty chemicals company’s stock valued at $60,162,000 after purchasing an additional 342,321 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on ALB. JPMorgan Chase & Co. upped their price target on shares of Albemarle from $60.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, August 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Albemarle in a research note on Wednesday, October 8th. Bank of America reaffirmed a “neutral” rating and issued a $100.00 target price (up from $95.00) on shares of Albemarle in a research note on Tuesday, October 14th. TD Cowen upped their price objective on Albemarle from $70.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Albemarle in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, Albemarle currently has an average rating of “Hold” and an average price target of $95.33.

Albemarle Trading Down 9.0%

NYSE ALB opened at $96.18 on Tuesday. The company has a market cap of $11.32 billion, a PE ratio of -10.32 and a beta of 1.65. The company has a current ratio of 2.31, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38. Albemarle Corporation has a 12 month low of $49.43 and a 12 month high of $113.91. The stock has a 50 day moving average of $85.78 and a 200-day moving average of $71.78.

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

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.