Allianz Asset Management GmbH Increases Stock Position in Albemarle Corporation $ALB

Allianz Asset Management GmbH boosted its stake in Albemarle Corporation (NYSE:ALB) by 3,357.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,847 shares of the specialty chemicals company’s stock after purchasing an additional 217,372 shares during the quarter. Allianz Asset Management GmbH’s holdings in Albemarle were worth $14,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bayforest Capital Ltd raised its stake in shares of Albemarle by 92.9% during the second quarter. Bayforest Capital Ltd now owns 21,048 shares of the specialty chemicals company’s stock worth $1,319,000 after acquiring an additional 10,136 shares in the last quarter. Moran Wealth Management LLC raised its stake in shares of Albemarle by 1.6% during the second quarter. Moran Wealth Management LLC now owns 9,482 shares of the specialty chemicals company’s stock worth $594,000 after acquiring an additional 148 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Albemarle by 27.4% during the second quarter. Sequoia Financial Advisors LLC now owns 4,200 shares of the specialty chemicals company’s stock worth $263,000 after acquiring an additional 904 shares in the last quarter. Vest Financial LLC raised its stake in shares of Albemarle by 55.4% during the second quarter. Vest Financial LLC now owns 959,978 shares of the specialty chemicals company’s stock worth $60,162,000 after acquiring an additional 342,321 shares in the last quarter. Finally, Yousif Capital Management LLC raised its stake in shares of Albemarle by 12.8% during the second quarter. Yousif Capital Management LLC now owns 94,916 shares of the specialty chemicals company’s stock worth $5,948,000 after acquiring an additional 10,754 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALB has been the topic of several research reports. KeyCorp reissued a “sector weight” rating on shares of Albemarle in a research note on Wednesday, July 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Albemarle in a research note on Wednesday, October 8th. Argus lifted their price target on shares of Albemarle from $90.00 to $120.00 in a research note on Tuesday, October 14th. Truist Financial lifted their price target on shares of Albemarle from $72.00 to $87.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Robert W. Baird raised their target price on shares of Albemarle from $58.00 to $68.00 and gave the stock an “underperform” rating in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $92.41.

Albemarle Stock Up 3.6%

Shares of Albemarle stock opened at $96.11 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 2.31. Albemarle Corporation has a 52-week low of $49.43 and a 52-week high of $113.91. The stock has a market capitalization of $11.31 billion, a price-to-earnings ratio of -10.31 and a beta of 1.65. The company’s 50 day moving average price is $84.27 and its 200-day moving average price is $70.37.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.94. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $0.04 earnings per share. Albemarle has set its FY 2025 guidance at EPS. Equities research analysts forecast that Albemarle Corporation will post -0.04 EPS for the current year.

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.