Albemarle Corporation $ALB Shares Purchased by Sava Infond d.o.o.

Sava Infond d.o.o. grew its holdings in shares of Albemarle Corporation (NYSE:ALB) by 36.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,410 shares of the specialty chemicals company’s stock after purchasing an additional 14,500 shares during the period. Sava Infond d.o.o.’s holdings in Albemarle were worth $4,412,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in Albemarle by 2.0% during the second quarter. Geode Capital Management LLC now owns 2,954,331 shares of the specialty chemicals company’s stock worth $184,782,000 after acquiring an additional 59,104 shares during the period. ProShare Advisors LLC boosted its stake in Albemarle by 48.5% in the second quarter. ProShare Advisors LLC now owns 2,870,110 shares of the specialty chemicals company’s stock valued at $179,870,000 after acquiring an additional 937,538 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of Albemarle during the third quarter valued at approximately $138,723,000. PGGM Investments raised its position in shares of Albemarle by 10.8% during the 3rd quarter. PGGM Investments now owns 1,185,005 shares of the specialty chemicals company’s stock worth $96,080,000 after purchasing an additional 115,081 shares during the period. Finally, Empower Advisory Group LLC lifted its holdings in shares of Albemarle by 11.4% in the 2nd quarter. Empower Advisory Group LLC now owns 866,575 shares of the specialty chemicals company’s stock worth $54,308,000 after purchasing an additional 88,457 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ALB. Royal Bank Of Canada upped their price objective on Albemarle from $200.00 to $216.00 and gave the stock an “outperform” rating in a research note on Tuesday. Dbs Bank upped their price target on shares of Albemarle from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Truist Financial raised shares of Albemarle from a “hold” rating to a “buy” rating and increased their price objective for the stock from $125.00 to $205.00 in a report on Wednesday, January 21st. Oppenheimer boosted their target price on shares of Albemarle from $109.00 to $207.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Finally, BMO Capital Markets raised their price target on shares of Albemarle from $145.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Albemarle presently has a consensus rating of “Moderate Buy” and an average target price of $167.52.

Albemarle Trading Down 0.0%

Albemarle stock opened at $168.33 on Friday. Albemarle Corporation has a 12-month low of $49.43 and a 12-month high of $195.68. The stock has a market capitalization of $19.84 billion, a PE ratio of -29.28, a price-to-earnings-growth ratio of 1.76 and a beta of 1.44. The firm has a 50 day simple moving average of $161.88 and a 200-day simple moving average of $118.49. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.23 and a quick ratio of 1.57.

Albemarle (NYSE:ALB) last released its earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.13). Albemarle had a positive return on equity of 0.41% and a negative net margin of 10.74%.The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the company earned ($1.09) earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities research analysts expect that Albemarle Corporation will post -0.04 EPS for the current fiscal year.

Albemarle Profile

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.