Clifford Swan Investment Counsel LLC Sells 7,627 Shares of Albemarle Corporation $ALB

Key Points

• Clifford Swan Investment Counsel LLC reduced its holdings in Albemarle Corporation by 6.0%, selling 7,627 shares during the 2nd quarter.
• Several institutional investors have increased their stakes in Albemarle, with PGGM Investments raising its holdings by 90.4% in the 2nd quarter.
Wall Street analysts show varied opinions on Albemarle, with a consensus rating of "Hold" and an average target price of $92.41.

Clifford Swan Investment Counsel LLC trimmed its position in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 6.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,466 shares of the specialty chemicals company's stock after selling 7,627 shares during the quarter. Clifford Swan Investment Counsel LLC owned 0.10% of Albemarle worth $7,487,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Albemarle by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 14,672,272 shares of the specialty chemicals company's stock worth $1,056,697,000 after acquiring an additional 77,773 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 worth $110,814,000 after purchasing an additional 343,210 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Albemarle by 3.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,072,921 shares of the specialty chemicals company's stock worth $77,272,000 after buying an additional 31,951 shares during the period. PGGM Investments lifted its holdings in Albemarle by 90.4% during the 2nd quarter. PGGM Investments now owns 1,069,924 shares of the specialty chemicals company's stock valued at $67,052,000 after buying an additional 507,975 shares in the last quarter. Finally, Vest Financial LLC lifted its holdings in Albemarle by 55.4% during the 2nd quarter. Vest Financial LLC now owns 959,978 shares of the specialty chemicals company's stock valued at $60,162,000 after buying an additional 342,321 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

ALB has been the subject of several research reports. Scotiabank upped their target price on Albemarle from $65.00 to $70.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. Zacks Research upgraded shares of Albemarle from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 7th. Bank of America reiterated a "neutral" rating and set a $100.00 price objective (up previously from $95.00) on shares of Albemarle in a report on Tuesday, October 14th. JPMorgan Chase & Co. boosted their target price on Albemarle from $60.00 to $80.00 and gave the stock a "neutral" rating in a research note on Monday, August 18th. Finally, TD Cowen increased their price target on Albemarle from $70.00 to $85.00 and gave the company a "hold" rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $92.41.

Albemarle Trading Down 0.0%

Shares of NYSE:ALB opened at $91.31 on Thursday. 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 Corporation has a 52-week low of $49.43 and a 52-week high of $113.91. The stock has a market cap of $10.75 billion, a price-to-earnings ratio of -9.80 and a beta of 1.65. The business has a 50-day moving average price of $84.73 and a 200-day moving average price of $70.66.

Albemarle (NYSE:ALB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 earnings per share for the quarter, topping 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 company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the company earned $0.04 EPS. Albemarle's quarterly revenue was down 7.0% on a year-over-year basis. Albemarle has set its FY 2025 guidance at EPS. Equities analysts predict that Albemarle Corporation will post -0.04 EPS for the current 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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