Prospera Financial Services Inc Boosts Holdings in Albemarle Corporation $ALB

Prospera Financial Services Inc boosted its stake in Albemarle Corporation (NYSE:ALBFree Report) by 142.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,798 shares of the specialty chemicals company’s stock after buying an additional 6,933 shares during the period. Prospera Financial Services Inc’s holdings in Albemarle were worth $957,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ALB. Manning & Napier Advisors LLC acquired a new position in Albemarle in the 3rd quarter valued at about $138,723,000. ProShare Advisors LLC lifted its position in shares of Albemarle by 48.5% during the second quarter. ProShare Advisors LLC now owns 2,870,110 shares of the specialty chemicals company’s stock worth $179,870,000 after purchasing an additional 937,538 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Albemarle by 22,047.4% in the second quarter. AQR Capital Management LLC now owns 713,812 shares of the specialty chemicals company’s stock valued at $44,613,000 after purchasing an additional 710,589 shares during the period. Norges Bank purchased a new stake in Albemarle during the 2nd quarter worth approximately $29,482,000. Finally, HB Wealth Management LLC lifted its holdings in Albemarle by 1,278.8% during the 3rd quarter. HB Wealth Management LLC now owns 440,608 shares of the specialty chemicals company’s stock worth $35,725,000 after buying an additional 408,652 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Stock Up 4.7%

ALB opened at $166.42 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.23 and a quick ratio of 1.51. 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 $19.61 billion, a P/E ratio of -28.94, a P/E/G ratio of 2.40 and a beta of 1.44. The business has a 50 day simple moving average of $158.16 and a 200-day simple moving average of $115.33.

Albemarle (NYSE:ALBGet Free Report) last released its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.13). The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Albemarle had a positive return on equity of 0.41% and a negative net margin of 10.74%.The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.09) EPS. On average, equities analysts anticipate that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Key Stories Impacting Albemarle

Here are the key news stories impacting Albemarle this week:

Analyst Upgrades and Downgrades

Several research analysts have commented on ALB shares. Morgan Stanley boosted their price target on shares of Albemarle from $147.00 to $170.00 and gave the stock an “equal weight” rating in a report on Friday. Argus upped their price objective on Albemarle from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Dbs Bank boosted their target price on Albemarle from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Albemarle from a “hold” rating to a “buy” rating and increased their price target for the company from $125.00 to $185.00 in a research note on Monday, January 12th. Finally, Citigroup boosted their price objective on shares of Albemarle from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $162.72.

Read Our Latest Stock Analysis on ALB

Albemarle Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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