Albemarle Corporation $ALB Stock: Yousif Capital Management LLC Raises Position

Key Points

• Yousif Capital Management increased its Albemarle stake by 71.6% in the third quarter, owning 96,427 shares valued at approximately $10.2 million. Institutional investors collectively hold 92.87% of ALB.
• Analyst sentiment is mixed: while 15 analysts rate the stock a Buy, seven rate it Hold and three rate it Sell. The consensus rating is Hold, with an average price target of $179.41.
• Albemarle’s latest quarterly results exceeded expectations, reporting $3.75 in earnings per share and $1.74 billion in revenue, with revenue up 31.1% year over year. However, ALB opened at $93.72, near its 12-month low of $88.01 and well below its 12-month high of $221.00.

Yousif Capital Management LLC grew its stake in Albemarle Corporation (NYSE:ALB - Free Report) by 71.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,427 shares of the specialty chemicals company's stock after buying an additional 40,250 shares during the period. Yousif Capital Management LLC owned 0.08% of Albemarle worth $10,200,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Addison Advisors LLC acquired a new stake in Albemarle during the 2nd quarter worth $28,000. Sound Income Strategies LLC lifted its position in Albemarle by 190.1% in the first quarter. Sound Income Strategies LLC now owns 293 shares of the specialty chemicals company's stock valued at $52,000 after acquiring an additional 192 shares during the last quarter. Dakota Community Bank & Trust NA purchased a new stake in Albemarle in the first quarter valued at $54,000. Fiduciary Financial Advisors acquired a new position in Albemarle in the second quarter valued at $41,000. Finally, Jones Financial Companies Lllp acquired a new position in Albemarle in the second quarter valued at $42,000. Institutional investors and hedge funds own 92.87% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALB. Jefferies Financial Group dropped their price objective on Albemarle from $244.00 to $211.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. JPMorgan Chase & Co. reduced their target price on Albemarle from $160.00 to $140.00 and set a "neutral" rating for the company in a report on Tuesday, August 25th. Weiss Ratings downgraded Albemarle from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday. Royal Bank Of Canada decreased their target price on Albemarle from $157.00 to $129.00 and set an "outperform" rating for the company in a research report on Thursday, October 15th. Finally, BMO Capital Markets restated an "outperform" rating and set a $175.00 price target on shares of Albemarle in a research note on Tuesday, October 6th. Fifteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $179.41.

Albemarle Stock Up 1.3%

ALB stock opened at $93.72 on Friday. The company has a fifty day moving average price of $115.66 and a 200 day moving average price of $142.77. Albemarle Corporation has a 12 month low of $88.01 and a 12 month high of $221.00. The company has a market cap of $11.06 billion, a price-to-earnings ratio of 347.14, a price-to-earnings-growth ratio of 0.56 and a beta of 1.36. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.09 and a quick ratio of 1.35.

Albemarle (NYSE:ALB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The specialty chemicals company reported $3.75 earnings per share for the quarter, topping analysts' consensus estimates of $3.20 by $0.55. Albemarle had a net margin of 3.09% and a return on equity of 10.96%. The firm had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter in the prior year, the business earned $0.11 EPS. Albemarle's quarterly revenue was up 31.1% compared to the same quarter last year. Sell-side analysts expect that Albemarle Corporation will post 11.19 earnings per share for the current year.

Albemarle Profile

Albemarle Corporation NYSE: ALB is a global specialty chemicals company headquartered in Charlotte, North Carolina. The company develops, manufactures, and markets engineered chemicals used in energy storage, transportation, refining, pharmaceuticals, agriculture, consumer products, and other industrial applications.

Albemarle is one of the world's major producers of lithium and supplies lithium compounds, including lithium carbonate and lithium hydroxide, for use in rechargeable batteries for electric vehicles, portable electronics, and grid energy-storage systems.

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