2,165 Shares in Albemarle Co. (NYSE:ALB) Acquired by Marshall Financial Group LLC

Marshall Financial Group LLC bought a new position in shares of Albemarle Co. (NYSE:ALB) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 2,165 shares of the specialty chemicals company’s stock, valued at approximately $205,000.

Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in Albemarle by 239.7% during the second quarter. SG Americas Securities LLC now owns 53,793 shares of the specialty chemicals company’s stock worth $5,138,000 after buying an additional 37,958 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Albemarle by 22.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 190,526 shares of the specialty chemicals company’s stock worth $25,100,000 after buying an additional 35,003 shares during the period. MBB Public Markets I LLC increased its position in Albemarle by 392.6% during the second quarter. MBB Public Markets I LLC now owns 7,916 shares of the specialty chemicals company’s stock worth $756,000 after buying an additional 6,309 shares during the period. Empowered Funds LLC acquired a new position in Albemarle during the first quarter worth approximately $202,000. Finally, Clifford Swan Investment Counsel LLC increased its position in Albemarle by 8.0% during the second quarter. Clifford Swan Investment Counsel LLC now owns 123,436 shares of the specialty chemicals company’s stock worth $11,791,000 after buying an additional 9,182 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Albemarle Stock Up 0.4 %

Albemarle stock opened at $95.08 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.75 and a current ratio of 2.67. The firm has a market capitalization of $11.17 billion, a price-to-earnings ratio of 34.57, a price-to-earnings-growth ratio of 13.81 and a beta of 1.54. Albemarle Co. has a fifty-two week low of $71.97 and a fifty-two week high of $153.54. The stock’s fifty day moving average is $89.58 and its two-hundred day moving average is $103.07.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, July 31st. The specialty chemicals company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.49). The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. Albemarle had a negative net margin of 6.72% and a positive return on equity of 6.38%. The firm’s revenue for the quarter was down 39.7% on a year-over-year basis. During the same period last year, the company posted $7.33 EPS. Analysts predict that Albemarle Co. will post 0.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Scotiabank cut their price target on Albemarle from $135.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 6th. Citigroup cut their price target on Albemarle from $137.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. JPMorgan Chase & Co. dropped their target price on Albemarle from $115.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. UBS Group dropped their target price on Albemarle from $124.00 to $109.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Finally, Wells Fargo & Company boosted their target price on Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Albemarle presently has a consensus rating of “Hold” and a consensus price target of $117.60.

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.