Jones Financial Companies Lllp Increases Holdings in Albemarle Corporation $ALB

Jones Financial Companies Lllp increased its position in Albemarle Corporation (NYSE:ALB) by 22.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,316 shares of the specialty chemicals company’s stock after purchasing an additional 6,466 shares during the quarter. Jones Financial Companies Lllp’s holdings in Albemarle were worth $3,111,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hantz Financial Services Inc. raised its holdings in shares of Albemarle by 10,050.0% in the second quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 402 shares in the last quarter. CVA Family Office LLC increased its position in Albemarle by 7,257.1% during the 2nd quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 508 shares during the period. Cromwell Holdings LLC increased its position in Albemarle by 36.8% during the 3rd quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 111 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Albemarle by 536.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 483 shares in the last quarter. Finally, Assetmark Inc. lifted its position in shares of Albemarle by 248.0% in the 2nd quarter. Assetmark Inc. now owns 689 shares of the specialty chemicals company’s stock worth $43,000 after purchasing an additional 491 shares during the period. 92.87% of the stock is owned by institutional investors.

Albemarle Trading Up 4.5%

Albemarle stock opened at $163.47 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.51 and a current ratio of 2.27. The stock has a market cap of $19.24 billion, a PE ratio of -102.81, a price-to-earnings-growth ratio of 2.92 and a beta of 1.44. The stock has a 50-day moving average of $154.02 and a two-hundred day moving average of $112.25. Albemarle Corporation has a one year low of $49.43 and a one year high of $195.68.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.73. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. Albemarle had a negative net margin of 0.43% and a positive return on equity of 0.10%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.55) earnings per share. On average, research analysts anticipate that Albemarle Corporation will post -0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ALB shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Albemarle in a report on Monday, December 29th. Bank of America lifted their price target on Albemarle from $118.00 to $167.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Rothschild & Co Redburn upped their price objective on Albemarle from $135.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. HSBC raised Albemarle from a “hold” rating to a “buy” rating and set a $200.00 price objective on the stock in a research report on Monday, January 19th. Finally, Royal Bank Of Canada boosted their target price on shares of Albemarle from $159.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $161.16.

Albemarle Profile

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.