Brian Low Financial Group LLC Takes $377,000 Position in Albemarle Corporation $ALB

Key Points

• Brian Low Financial Group LLC has taken a new position in Albemarle Corporation, acquiring 6,010 shares valued at approximately $377,000 in the second quarter.
• Analysts have boosted their price targets for Albemarle, with Deutsche Bank raising it from $74.00 to $95.00, while Dbs Bank set a new target of $120.00 with a "buy" rating.
• Albemarle reported $1.33 billion in revenue for the last quarter, surpassing consensus estimates, despite a year-over-year revenue decline of 7% and a negative net margin of 18.61%.

Brian Low Financial Group LLC bought a new position in Albemarle Corporation (NYSE:ALB - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,010 shares of the specialty chemicals company's stock, valued at approximately $377,000.

A number of other institutional investors have also recently bought and sold shares of the business. WealthPlan Investment Management LLC raised its stake in shares of Albemarle by 10.7% in the 1st quarter. WealthPlan Investment Management LLC now owns 50,326 shares of the specialty chemicals company's stock valued at $3,624,000 after buying an additional 4,872 shares in the last quarter. Grandfield & Dodd LLC raised its position in Albemarle by 5.2% in the first quarter. Grandfield & Dodd LLC now owns 243,036 shares of the specialty chemicals company's stock worth $17,503,000 after purchasing an additional 12,014 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in Albemarle during the first quarter worth about $271,000. Envestnet Asset Management Inc. boosted its holdings in Albemarle by 3.6% during the first quarter. Envestnet Asset Management Inc. now owns 184,426 shares of the specialty chemicals company's stock valued at $13,282,000 after purchasing an additional 6,487 shares in the last quarter. Finally, Bard Financial Services Inc. bought a new stake in shares of Albemarle in the 2nd quarter valued at approximately $1,850,000. Institutional investors and hedge funds own 92.87% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on ALB shares. Deutsche Bank Aktiengesellschaft boosted their price target on Albemarle from $74.00 to $95.00 in a research note on Friday, October 17th. Weiss Ratings restated a "sell (d-)" rating on shares of Albemarle in a research note on Friday. Scotiabank increased their target price on shares of Albemarle from $65.00 to $70.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. Dbs Bank lifted their price target on shares of Albemarle from $100.00 to $120.00 and gave the company a "buy" rating in a report on Friday. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Albemarle in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $95.33.

Albemarle Trading Up 8.5%

ALB opened at $105.65 on Friday. The company has a current ratio of 2.31, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $12.43 billion, a PE ratio of -11.34 and a beta of 1.65. Albemarle Corporation has a 1-year low of $49.43 and a 1-year high of $113.91. The firm has a 50-day moving average price of $85.52 and a two-hundred day moving average price of $71.31.

Albemarle (NYSE:ALB - Get Free Report) last announced its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the firm posted $0.04 earnings per share. The company's revenue was down 7.0% on a year-over-year basis. Albemarle has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle 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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