Albemarle Corporation $ALB Shares Bought by Sanders Morris Harris LLC

Key Points

• Sanders Morris Harris LLC increased its stake in Albemarle Corporation by 90.0% during the second quarter, owning 9,500 shares now valued at $595,000.
• Institutional investors and hedge funds collectively own 92.87% of Albemarle's shares, highlighting strong institutional interest in the company.
• Despite a slight year-over-year revenue decline, Albemarle reported $1.33 billion in quarterly revenue and earned $0.11 per share, significantly exceeding expectations.

Sanders Morris Harris LLC increased its position in Albemarle Corporation (NYSE:ALB - Free Report) by 90.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,500 shares of the specialty chemicals company's stock after buying an additional 4,500 shares during the period. Sanders Morris Harris LLC's holdings in Albemarle were worth $595,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ALB. FengHe Fund Management Pte. Ltd. purchased a new stake in Albemarle in the 2nd quarter worth approximately $32,903,000. PGGM Investments boosted its holdings in shares of 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 purchasing an additional 507,975 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Albemarle in the first quarter valued at $26,836,000. Dimensional Fund Advisors LP increased its stake in Albemarle by 28.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,538,706 shares of the specialty chemicals company's stock valued at $110,814,000 after purchasing an additional 343,210 shares during the last quarter. Finally, Vest Financial LLC lifted its position 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 buying an additional 342,321 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

ALB has been the subject of several recent analyst reports. Baird R W cut Albemarle from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 29th. TD Cowen raised their target price on shares of Albemarle from $70.00 to $85.00 and gave the stock a "hold" rating in a research report on Thursday, October 9th. Scotiabank boosted their target price on shares of Albemarle from $65.00 to $70.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. KeyCorp reaffirmed a "sector weight" rating on shares of Albemarle in a research note on Wednesday, July 30th. Finally, Wall Street Zen raised shares of Albemarle from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $92.41.

Albemarle Price Performance

ALB opened at $96.11 on Tuesday. Albemarle Corporation has a 52-week low of $49.43 and a 52-week high of $113.91. The company has a 50 day moving average of $84.27 and a two-hundred day moving average of $70.37. The company has a market cap of $11.31 billion, a P/E ratio of -10.31 and a beta of 1.65. The company has a quick ratio of 1.47, a current ratio of 2.31 and a debt-to-equity ratio of 0.38.

Albemarle (NYSE:ALB - Get Free Report) last posted its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.94. Albemarle had a negative net margin of 18.61% and a negative return on equity of 1.87%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the business posted $0.04 EPS. The business's quarterly revenue was down 7.0% on a year-over-year basis. Albemarle has set its FY 2025 guidance at EPS. On average, analysts expect that Albemarle Corporation will post -0.04 earnings per share for the current year.

Albemarle Company 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.

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