Thompson Davis & CO. Inc. boosted its stake in Albemarle Corporation (NYSE:ALB) by 650.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 750 shares of the specialty chemicals company’s stock after buying an additional 650 shares during the period. Thompson Davis & CO. Inc.’s holdings in Albemarle Corporation were worth $102,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its stake in Albemarle Corporation by 2.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock worth $102,000 after purchasing an additional 20 shares during the period. Carroll Financial Associates Inc. grew its position in shares of Albemarle Corporation by 0.3% during the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 3 shares in the last quarter. Highlander Capital Management LLC acquired a new position in shares of Albemarle Corporation during the second quarter worth about $106,000. Smithfield Trust Co. grew its position in shares of Albemarle Corporation by 16.1% during the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock worth $106,000 after buying an additional 140 shares in the last quarter. Finally, Howe & Rusling Inc. grew its position in shares of Albemarle Corporation by 2,038.0% during the third quarter. Howe & Rusling Inc. now owns 1,069 shares of the specialty chemicals company’s stock worth $146,000 after buying an additional 1,019 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.
A number of brokerages have recently commented on ALB. Robert W. Baird reissued a “hold” rating and set a $135.00 price objective on shares of Albemarle Corporation in a research report on Wednesday. Zacks Investment Research raised Albemarle Corporation from a “hold” rating to a “buy” rating and set a $157.00 price objective for the company in a research report on Tuesday, October 17th. Goldman Sachs Group, Inc. (The) downgraded Albemarle Corporation from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $139.66 to $142.00 in a research report on Friday, October 6th. Royal Bank Of Canada reissued a “buy” rating and set a $149.00 price objective on shares of Albemarle Corporation in a research report on Wednesday, October 18th. Finally, Instinet reaffirmed a “buy” rating and issued a $154.00 price target (up from $146.00) on shares of Albemarle Corporation in a report on Friday, October 13th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $125.45.
In other news, EVP Matthew Juneau sold 5,397 shares of Albemarle Corporation 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 transaction, the executive vice president now owns 360 shares in the company, valued at $41,677.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Karen G. Narwold sold 11,500 shares of Albemarle Corporation stock in a transaction on Wednesday, August 23rd. The shares were 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 in the company, valued at approximately $4,246,089. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by insiders.
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Albemarle Corporation (NYSE:ALB) last posted its quarterly earnings data on Monday, August 7th. The specialty chemicals company reported $1.13 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 for the quarter, compared to the consensus estimate of $735.50 million. During the same quarter in the previous year, the business earned $0.93 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last 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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