Norway Savings Bank Has $451,000 Stock Position in Albemarle Co. (NYSE:ALB)

Norway Savings Bank lifted its holdings in shares of Albemarle Co. (NYSE:ALBFree Report) by 23.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,764 shares of the specialty chemicals company’s stock after purchasing an additional 890 shares during the period. Norway Savings Bank’s holdings in Albemarle were worth $451,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. SG Americas Securities LLC increased its position in shares of Albemarle by 239.7% during the second quarter. SG Americas Securities LLC now owns 53,793 shares of the specialty chemicals company’s stock worth $5,138,000 after buying an additional 37,958 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Albemarle by 22.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 190,526 shares of the specialty chemicals company’s stock valued at $25,100,000 after purchasing an additional 35,003 shares in the last quarter. MBB Public Markets I LLC grew its stake in Albemarle by 392.6% during the second quarter. MBB Public Markets I LLC now owns 7,916 shares of the specialty chemicals company’s stock worth $756,000 after purchasing an additional 6,309 shares during the period. Integrated Advisors Network LLC increased its holdings in Albemarle by 10.2% in the fourth quarter. Integrated Advisors Network LLC now owns 5,063 shares of the specialty chemicals company’s stock worth $731,000 after purchasing an additional 470 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Albemarle by 3.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 23,874 shares of the specialty chemicals company’s stock valued at $3,449,000 after buying an additional 756 shares during the period. Institutional investors own 92.87% of the company’s stock.

Albemarle Stock Performance

Albemarle stock traded down $2.29 during mid-day trading on Tuesday, reaching $97.31. 925,887 shares of the company’s stock were exchanged, compared to its average volume of 3,028,879. The firm has a market capitalization of $11.44 billion, a PE ratio of 36.22, a P/E/G ratio of 13.81 and a beta of 1.54. The company has a quick ratio of 1.75, a current ratio of 2.67 and a debt-to-equity ratio of 0.38. The business’s fifty day simple moving average is $88.35 and its 200 day simple moving average is $103.65. Albemarle Co. has a one year low of $71.97 and a one year high of $172.09.

Albemarle (NYSE:ALBGet Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The specialty chemicals company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.49). Albemarle had a positive return on equity of 6.38% and a negative net margin of 6.72%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the firm posted $7.33 earnings per share. Albemarle’s quarterly revenue was down 39.7% compared to the same quarter last year. On average, sell-side analysts expect that Albemarle Co. will post 0.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Bank of America lowered their price objective on shares of Albemarle from $135.00 to $126.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Piper Sandler cut their price objective on shares of Albemarle from $95.00 to $90.00 and set an “underweight” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company boosted their target price on Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Mizuho cut their price target on Albemarle from $128.00 to $103.00 in a report on Wednesday, July 31st. Finally, Robert W. Baird downgraded Albemarle from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $102.00 to $85.00 in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Albemarle has a consensus rating of “Hold” and a consensus target price of $117.60.

Read Our Latest Stock Analysis on Albemarle

Albemarle Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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