Mutual of America Capital Management LLC Sells 179 Shares of Albemarle Corporation $ALB

Mutual of America Capital Management LLC trimmed its holdings in shares of Albemarle Corporation (NYSE:ALB) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,491 shares of the specialty chemicals company’s stock after selling 179 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Albemarle were worth $845,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Albemarle by 0.5% during the first quarter. Vanguard Group Inc. now owns 14,672,272 shares of the specialty chemicals company’s stock valued at $1,056,697,000 after purchasing an additional 77,773 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Albemarle by 28.7% during 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 last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Albemarle by 3.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,072,921 shares of the specialty chemicals company’s stock valued at $77,272,000 after purchasing an additional 31,951 shares during the last quarter. PGGM Investments raised its holdings in shares of Albemarle by 90.4% during 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. Finally, Vest Financial LLC lifted its position in Albemarle by 55.4% in the 2nd quarter. Vest Financial LLC now owns 959,978 shares of the specialty chemicals company’s stock worth $60,162,000 after buying an additional 342,321 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Albemarle Stock Performance

NYSE ALB opened at $96.18 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.31 and a quick ratio of 1.47. Albemarle Corporation has a 1-year low of $49.43 and a 1-year high of $113.91. The business has a 50 day simple moving average of $85.78 and a two-hundred day simple moving average of $71.78. The stock has a market capitalization of $11.32 billion, a PE ratio of -10.32 and a beta of 1.65.

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 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 firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.04 EPS. Albemarle has set its FY 2025 guidance at EPS. On average, research analysts predict that Albemarle Corporation will post -0.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ALB shares. Argus boosted their target price on Albemarle from $90.00 to $120.00 in a research note on Tuesday, October 14th. TD Cowen upped their price objective on shares of Albemarle from $70.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, October 9th. Cowen reiterated a “hold” rating on shares of Albemarle in a research note on Thursday, October 9th. HSBC increased their price objective on Albemarle from $60.00 to $75.00 and gave the company a “hold” rating in a research report on Monday, September 22nd. Finally, Bank of America reiterated a “neutral” rating and set a $100.00 target price (up from $95.00) on shares of Albemarle in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $95.33.

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.