Kestra Advisory Services LLC grew its position in Albemarle Corporation (NYSE:ALB – Free Report) by 445.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,548 shares of the specialty chemicals company’s stock after acquiring an additional 46,178 shares during the period. Kestra Advisory Services LLC’s holdings in Albemarle were worth $5,982,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Primecap Management Co. CA acquired a new position in shares of Albemarle during the second quarter worth about $358,101,000. Deutsche Bank AG acquired a new stake in Albemarle in the second quarter valued at about $131,049,000. Bank of New York Mellon Corp acquired a new stake in Albemarle in the second quarter valued at about $103,268,000. Robeco Institutional Asset Management B.V. increased its position in Albemarle by 2,981.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 733,793 shares of the specialty chemicals company’s stock worth $77,621,000 after purchasing an additional 709,977 shares during the period. Finally, ProShare Advisors LLC raised its stake in shares of Albemarle by 69.7% during the 3rd quarter. ProShare Advisors LLC now owns 1,436,117 shares of the specialty chemicals company’s stock worth $151,912,000 after buying an additional 589,787 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.
Analysts Set New Price Targets
ALB has been the subject of several recent analyst reports. UBS Group reduced their price target on Albemarle from $150.00 to $137.00 and set a “buy” rating for the company in a report on Monday. Scotiabank cut their price objective on Albemarle from $190.00 to $165.00 and set a “sector outperform” rating for the company in a research report on Monday. Truist Financial reissued a “buy” rating and issued a $170.00 target price (down from $185.00) on shares of Albemarle in a report on Friday, November 6th. Barclays decreased their target price on shares of Albemarle from $109.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Friday, November 6th. Finally, Zacks Research raised shares of Albemarle from a “strong sell” rating to a “hold” rating in a research note on Monday. Fifteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.05.
View Our Latest Report on Albemarle
Albemarle Price Performance
ALB stock opened at $96.14 on Thursday. Albemarle Corporation has a 1 year low of $89.77 and a 1 year high of $221.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.57 and a current ratio of 2.34. The stock’s 50 day moving average price is $105.23 and its 200 day moving average price is $146.54. The firm has a market cap of $11.35 billion, a P/E ratio of 23.22, a PEG ratio of 0.59 and a beta of 1.34.
Albemarle (NYSE:ALB – Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The specialty chemicals company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.05. Albemarle had a return on equity of 14.91% and a net margin of 10.40%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the business posted ($0.19) earnings per share. Albemarle’s revenue was up 18.8% compared to the same quarter last year. On average, sell-side analysts expect that Albemarle Corporation will post 10.75 earnings per share for the current fiscal year.
Albemarle Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Friday, December 18th will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, December 18th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.7%. Albemarle’s dividend payout ratio (DPR) is presently 39.61%.
More Albemarle News
Here’s some of the latest news about ALB:
- Positive Sentiment: Zacks Research upgraded Albemarle from “strong sell” to “hold,” a modest improvement in its view of the shares. Read more about the Zacks Research upgrade
- Positive Sentiment: Citigroup raised its price target for ALB, signaling greater potential upside in its valuation, though the reported headline did not give the new target. Read more about Citigroup’s price target increase
- Negative Sentiment: Scotiabank cut its EPS forecasts to $10.36 for FY2026 from $11.64 and to $9.98 for FY2027 from $14.15. The lower projections may weigh on sentiment, although the bank maintained its “Sector Outperform” rating and $165 price target. Read more about analyst estimates for Albemarle
Albemarle Profile
Albemarle Corporation is a specialty chemicals company that produces lithium, bromine and refining catalysts. Its products serve industries including energy storage, transportation, electronics, petroleum refining and pharmaceuticals. The company supplies lithium compounds used in rechargeable batteries and other applications. It also makes bromine-based products for uses such as flame retardants and water treatment, along with catalysts used in refining petroleum. Albemarle traces its history to 1887 and is headquartered in Charlotte, North Carolina.
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