Candriam S.C.A. Makes New Investment in Albemarle Corporation $ALB

Candriam S.C.A. purchased a new position in Albemarle Corporation (NYSE:ALB) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 74,170 shares of the specialty chemicals company’s stock, valued at approximately $6,014,000. Candriam S.C.A. owned 0.06% of Albemarle at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hantz Financial Services Inc. boosted its stake in Albemarle by 10,050.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 402 shares during the period. CVA Family Office LLC lifted its holdings in shares of Albemarle by 7,257.1% in the second quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 508 shares in the last quarter. Cromwell Holdings LLC boosted its position in shares of Albemarle by 36.8% in the third quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 111 shares during the period. EverSource Wealth Advisors LLC grew its stake in Albemarle by 536.7% during the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 483 shares in the last quarter. Finally, Physician Wealth Advisors Inc. bought a new stake in Albemarle during the 3rd quarter worth approximately $40,000. 92.87% of the stock is currently owned by institutional investors.

Albemarle Stock Performance

NYSE:ALB opened at $175.56 on Thursday. The company has a market capitalization of $20.66 billion, a price-to-earnings ratio of -110.41, a PEG ratio of 2.43 and a beta of 1.44. The business has a 50 day moving average of $156.55 and a 200 day moving average of $114.09. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.51. Albemarle Corporation has a 1-year low of $49.43 and a 1-year high of $195.68.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.62) by $0.09. Albemarle had a negative net margin of 0.43% and a positive return on equity of 0.10%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm posted ($1.09) earnings per share. The business’s revenue was up 15.9% compared to the same quarter last year. On average, sell-side analysts predict that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ALB has been the subject of several analyst reports. Morgan Stanley reissued an “equal weight” rating on shares of Albemarle in a report on Friday, December 19th. Truist Financial raised Albemarle from a “hold” rating to a “buy” rating and lifted their price objective for the company from $125.00 to $205.00 in a research note on Wednesday, January 21st. Oppenheimer boosted their target price on Albemarle from $109.00 to $207.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Wells Fargo & Company upped their target price on Albemarle from $135.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Monday, January 26th. Finally, Dbs Bank lifted their price target on Albemarle from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Albemarle presently has an average rating of “Moderate Buy” and a consensus target price of $162.24.

About Albemarle

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.