Albemarle Corporation $ALB Shares Purchased by Quadrant Capital Group LLC

Quadrant Capital Group LLC boosted its stake in Albemarle Corporation (NYSE:ALB) by 368.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,292 shares of the specialty chemicals company’s stock after buying an additional 14,384 shares during the period. Quadrant Capital Group LLC’s holdings in Albemarle were worth $1,935,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Primecap Management Co. CA acquired a new position in shares of Albemarle during the second quarter valued at $358,101,000. Deutsche Bank AG bought a new position in shares of Albemarle during the second quarter worth about $131,049,000. Amundi grew its position in shares of Albemarle by 40.5% during the second quarter. Amundi now owns 827,874 shares of the specialty chemicals company’s stock worth $111,784,000 after acquiring an additional 238,774 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Albemarle during the second quarter worth about $103,268,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Albemarle by 2,981.1% in 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 acquiring an additional 709,977 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Albemarle Stock Performance

Shares of ALB opened at $92.52 on Friday. The firm has a 50-day moving average price of $116.50 and a 200 day moving average price of $143.12. The firm has a market capitalization of $10.92 billion, a PE ratio of 342.66, a P/E/G ratio of 0.56 and a beta of 1.36. The company has a quick ratio of 1.35, a current ratio of 2.09 and a debt-to-equity ratio of 0.22. Albemarle Corporation has a 52-week low of $88.01 and a 52-week high of $221.00.

Albemarle (NYSE:ALB) last released its earnings results on Wednesday, August 5th. The specialty chemicals company reported $3.75 EPS for the quarter, beating the consensus estimate of $3.20 by $0.55. Albemarle had a net margin of 3.09% and a return on equity of 10.96%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the company earned $0.11 EPS. Albemarle’s quarterly revenue was up 31.1% on a year-over-year basis. On average, sell-side analysts anticipate that Albemarle Corporation will post 11.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Albemarle from $160.00 to $140.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 25th. Rothschild & Co Redburn reduced their target price on shares of Albemarle from $188.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, July 1st. Morgan Stanley restated a “reduce” rating and issued a $161.00 target price on shares of Albemarle in a research report on Monday, August 10th. Zacks Research lowered shares of Albemarle from a “hold” rating to a “strong sell” rating in a research note on Friday, October 9th. Finally, Barclays initiated coverage on shares of Albemarle in a research note on Monday, October 12th. They issued an “equal weight” rating and a $109.00 price target on the stock. Sixteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $176.83.

Albemarle Company Profile

Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company headquartered in Charlotte, North Carolina. The company develops, manufactures, and markets engineered chemicals used in energy storage, transportation, refining, pharmaceuticals, agriculture, consumer products, and other industrial applications.

Albemarle is one of the world’s major producers of lithium and supplies lithium compounds, including lithium carbonate and lithium hydroxide, for use in rechargeable batteries for electric vehicles, portable electronics, and grid energy-storage systems.