TD Asset Management Inc Reduces Position in Albemarle Corporation $ALB

Key Points

• TD Asset Management Inc reduced its position in Albemarle Corporation by 34.1% during the second quarter, selling 11,169 shares for a total of 21,553 shares remaining, valued at $1,351,000.
• Other institutional investors also adjusted their stakes, with Vest Financial LLC increasing its holdings by 55.4%, indicating varied investment strategies among major shareholders.
• Albemarle reported a quarterly EPS of $0.11, exceeding estimates while revenue decreased by 7.0% year-over-year, highlighting ongoing challenges in the specialty chemicals sector.

TD Asset Management Inc cut its holdings in shares of Albemarle Corporation (NYSE:ALB - Free Report) by 34.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,553 shares of the specialty chemicals company's stock after selling 11,169 shares during the period. TD Asset Management Inc's holdings in Albemarle were worth $1,351,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Moran Wealth Management LLC boosted its position in shares of Albemarle by 1.6% during the second quarter. Moran Wealth Management LLC now owns 9,482 shares of the specialty chemicals company's stock valued at $594,000 after buying an additional 148 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Albemarle by 27.4% in the second quarter. Sequoia Financial Advisors LLC now owns 4,200 shares of the specialty chemicals company's stock valued at $263,000 after acquiring an additional 904 shares during the period. Vest Financial LLC lifted its holdings in Albemarle by 55.4% in the second quarter. Vest Financial LLC now owns 959,978 shares of the specialty chemicals company's stock valued at $60,162,000 after acquiring an additional 342,321 shares during the period. Yousif Capital Management LLC lifted its holdings in Albemarle by 12.8% in the second quarter. Yousif Capital Management LLC now owns 94,916 shares of the specialty chemicals company's stock valued at $5,948,000 after acquiring an additional 10,754 shares during the period. Finally, MGO One Seven LLC lifted its holdings in Albemarle by 12.9% in the second quarter. MGO One Seven LLC now owns 6,941 shares of the specialty chemicals company's stock valued at $435,000 after acquiring an additional 792 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Albemarle Stock Down 0.0%

NYSE ALB opened at $91.31 on Thursday. The stock's 50-day moving average price is $84.73 and its 200-day moving average price is $70.66. 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 company has a market capitalization of $10.75 billion, a P/E ratio of -9.80 and a beta of 1.65.

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

Wall Street Analyst Weigh In

ALB has been the topic of a number of recent research reports. KeyCorp reissued a "sector weight" rating on shares of Albemarle in a report on Wednesday, July 30th. Wall Street Zen raised Albemarle from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Cowen reissued a "hold" rating on shares of Albemarle in a report on Thursday, October 9th. Mizuho increased their target price on Albemarle from $78.00 to $92.00 and gave the company a "neutral" rating in a report on Friday, October 3rd. Finally, Scotiabank increased their target price on Albemarle from $65.00 to $70.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, Albemarle has an average rating of "Hold" and an average target price of $92.41.

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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