Albemarle Corporation $ALB Shares Acquired by Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group lifted its holdings in shares of Albemarle Corporation (NYSE:ALB) by 19.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,864 shares of the specialty chemicals company’s stock after purchasing an additional 2,455 shares during the quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in Albemarle were worth $932,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. WealthPlan Investment Management LLC raised its holdings in Albemarle by 10.7% in the first quarter. WealthPlan Investment Management LLC now owns 50,326 shares of the specialty chemicals company’s stock valued at $3,624,000 after acquiring an additional 4,872 shares in the last quarter. Grandfield & Dodd LLC raised its holdings in Albemarle by 5.2% in the first quarter. Grandfield & Dodd LLC now owns 243,036 shares of the specialty chemicals company’s stock valued at $17,503,000 after acquiring an additional 12,014 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in Albemarle in the first quarter valued at approximately $271,000. Envestnet Asset Management Inc. raised its holdings in Albemarle by 3.6% in the first quarter. Envestnet Asset Management Inc. now owns 184,426 shares of the specialty chemicals company’s stock valued at $13,282,000 after acquiring an additional 6,487 shares in the last quarter. Finally, Bard Financial Services Inc. acquired a new stake in Albemarle in the second quarter valued at approximately $1,850,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Stock Performance

Shares of Albemarle stock opened at $105.65 on Monday. The firm has a market capitalization of $12.43 billion, a P/E ratio of -11.34 and a beta of 1.65. Albemarle Corporation has a 52 week low of $49.43 and a 52 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. The firm’s 50 day moving average is $85.52 and its two-hundred day moving average is $71.54.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.94. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates 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 period last year, the firm posted $0.04 earnings per share. Albemarle has set its FY 2025 guidance at EPS. Research analysts forecast that Albemarle Corporation will post -0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALB. JPMorgan Chase & Co. raised their target price on shares of Albemarle from $60.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, August 18th. Bank of America reaffirmed a “neutral” rating and issued a $100.00 target price (up previously from $95.00) on shares of Albemarle in a report on Tuesday, October 14th. Wall Street Zen raised shares of Albemarle from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Jefferies Financial Group increased their price target on shares of Albemarle from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Albemarle from $74.00 to $95.00 in a research note on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $95.33.

Albemarle Company 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.