Hahn Capital Management LLC grew its position in Albemarle Corporation (NYSE:ALB) by 7.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 299,699 shares of the specialty chemicals company’s stock after acquiring an additional 20,175 shares during the quarter. Albemarle Corporation comprises approximately 3.3% of Hahn Capital Management LLC’s portfolio, making the stock its 15th biggest position. Hahn Capital Management LLC owned approximately 0.27% of Albemarle Corporation worth $31,630,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of ALB. Stifel Financial Corp boosted its holdings in shares of Albemarle Corporation by 4.7% in the first quarter. Stifel Financial Corp now owns 7,437 shares of the specialty chemicals company’s stock valued at $793,000 after acquiring an additional 333 shares during the period. AXA acquired a new stake in shares of Albemarle Corporation in the first quarter valued at approximately $359,000. United Services Automobile Association boosted its holdings in shares of Albemarle Corporation by 3.7% in the first quarter. United Services Automobile Association now owns 37,879 shares of the specialty chemicals company’s stock valued at $4,002,000 after acquiring an additional 1,368 shares during the period. Thrivent Financial For Lutherans boosted its holdings in shares of Albemarle Corporation by 5.3% in the first quarter. Thrivent Financial For Lutherans now owns 4,150 shares of the specialty chemicals company’s stock valued at $438,000 after acquiring an additional 210 shares during the period. Finally, Global X Management Co. LLC boosted its holdings in shares of Albemarle Corporation by 23.8% in the first quarter. Global X Management Co. LLC now owns 78,843 shares of the specialty chemicals company’s stock valued at $8,329,000 after acquiring an additional 15,142 shares during the period. 83.77% of the stock is owned by institutional investors and hedge funds.
In other Albemarle Corporation news, EVP Matthew Juneau sold 5,397 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $115.77, for a total transaction of $624,810.69. Following the completion of the transaction, the executive vice president now owns 360 shares in the company, valued at approximately $41,677.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Karen G. Narwold sold 11,500 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $115.95, for a total value of $1,333,425.00. Following the transaction, the executive vice president now owns 36,620 shares of the company’s stock, valued at approximately $4,246,089. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.
ALB has been the subject of several research analyst reports. KeyCorp reissued a “buy” rating and issued a $125.00 price objective on shares of Albemarle Corporation in a report on Sunday, September 3rd. Zacks Investment Research downgraded Albemarle Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Oppenheimer Holdings, Inc. initiated coverage on Albemarle Corporation in a report on Wednesday, August 16th. They issued an “outperform” rating and a $133.00 price objective for the company. Instinet increased their price objective on Albemarle Corporation from $134.00 to $146.00 and gave the company a “buy” rating in a report on Monday, September 18th. Finally, Nomura increased their price objective on Albemarle Corporation from $146.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, October 10th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $118.47.
Albemarle Corporation (NYSE ALB) traded up 1.19% on Friday, reaching $138.94. The company’s stock had a trading volume of 906,376 shares. The firm has a 50-day moving average price of $128.91 and a 200 day moving average price of $115.35. The firm has a market capitalization of $15.35 billion, a P/E ratio of 17.77 and a beta of 1.67. Albemarle Corporation has a 52-week low of $76.32 and a 52-week high of $140.10.
Albemarle Corporation (NYSE:ALB) last announced its quarterly earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.02. Albemarle Corporation had a return on equity of 11.59% and a net margin of 31.49%. The company had revenue of $737.25 million during the quarter, compared to analyst estimates of $735.50 million. During the same quarter in the previous year, the firm posted $0.93 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. Equities analysts anticipate that Albemarle Corporation will post $4.38 earnings per share for the current fiscal year.
Albemarle Corporation Profile
Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.
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