Sequoia Financial Advisors LLC Increases Position in Albemarle Corporation $ALB

Sequoia Financial Advisors LLC raised its position in Albemarle Corporation (NYSE:ALB) by 27.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,200 shares of the specialty chemicals company’s stock after purchasing an additional 904 shares during the period. Sequoia Financial Advisors LLC’s holdings in Albemarle were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. FengHe Fund Management Pte. Ltd. acquired a new position in shares of Albemarle in the 2nd quarter valued at $32,903,000. PGGM Investments boosted its holdings 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 buying an additional 507,975 shares in the last quarter. Nuveen LLC acquired a new position in shares of Albemarle in the 1st quarter valued at $26,836,000. Dimensional Fund Advisors LP boosted its holdings 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 buying an additional 343,210 shares in the last quarter. Finally, Vest Financial LLC boosted its holdings 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 buying an additional 342,321 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Albemarle Stock Performance

Shares of ALB opened at $91.31 on Thursday. The company has a 50-day simple moving average of $84.73 and a 200-day simple moving average of $70.66. 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 company has a market capitalization of $10.75 billion, a PE ratio of -9.80 and a beta of 1.65. Albemarle Corporation has a 52-week low of $49.43 and a 52-week high of $113.91.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on ALB shares. UBS Group lowered their target price on shares of Albemarle from $89.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Royal Bank Of Canada increased their price target on shares of Albemarle from $80.00 to $117.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. JPMorgan Chase & Co. increased their price target on shares of Albemarle from $60.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, August 18th. TD Cowen increased their price target on shares of Albemarle from $70.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. Finally, Scotiabank increased their price target on shares of Albemarle from $65.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $92.41.

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.