Ingalls & Snyder LLC Has $333,000 Stock Holdings in Albemarle Corporation $ALB

Ingalls & Snyder LLC lessened its holdings in Albemarle Corporation (NYSE:ALB) by 4.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,313 shares of the specialty chemicals company’s stock after selling 230 shares during the period. Ingalls & Snyder LLC’s holdings in Albemarle were worth $333,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Albemarle by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 14,672,272 shares of the specialty chemicals company’s stock worth $1,056,697,000 after buying an additional 77,773 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Albemarle by 28.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,538,706 shares of the specialty chemicals company’s stock worth $110,814,000 after acquiring an additional 343,210 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Albemarle by 3.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,072,921 shares of the specialty chemicals company’s stock worth $77,272,000 after acquiring an additional 31,951 shares in the last quarter. PGGM Investments raised its stake in Albemarle by 90.4% during the second quarter. PGGM Investments now owns 1,069,924 shares of the specialty chemicals company’s stock worth $67,052,000 after acquiring an additional 507,975 shares in the last quarter. Finally, Vest Financial LLC raised its stake in 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. 92.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALB has been the subject of a number of recent analyst reports. Rothschild & Co Redburn initiated coverage on shares of Albemarle in a research report on Friday. They set a “buy” rating and a $135.00 target price for the company. Rothschild Redb raised shares of Albemarle to a “strong-buy” rating in a report on Friday. Zacks Research raised shares of Albemarle from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. Wells Fargo & Company raised their price objective on shares of Albemarle from $70.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Finally, Argus raised their price target on Albemarle from $90.00 to $120.00 in a report on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $95.33.

Albemarle Price Performance

ALB opened at $96.18 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 company has a fifty day moving average price of $85.78 and a two-hundred day moving average price of $71.78. The firm 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 data on Wednesday, July 30th. The specialty chemicals company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.94. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Albemarle had a negative return on equity of 1.87% and a negative net margin of 18.61%.The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.04 earnings per share. Albemarle has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Albemarle Corporation will post -0.04 earnings per share for the current year.

About Albemarle

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.