Commerzbank Aktiengesellschaft FI Has $2.46 Million Holdings in Albemarle Co. (NYSE:ALB)

Commerzbank Aktiengesellschaft FI raised its position in shares of Albemarle Co. (NYSE:ALB) by 5.5% in the third quarter, Holdings Channel reports. The fund owned 25,961 shares of the specialty chemicals company’s stock after buying an additional 1,342 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Albemarle were worth $2,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WFA Asset Management Corp bought a new stake in Albemarle during the 1st quarter valued at approximately $25,000. First Community Trust NA bought a new stake in shares of Albemarle in the 2nd quarter worth about $25,000. CVA Family Office LLC lifted its holdings in Albemarle by 610.0% during the 2nd quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 244 shares during the last quarter. Eastern Bank acquired a new position in Albemarle in the third quarter valued at about $31,000. Finally, First Financial Corp IN bought a new stake in Albemarle during the first quarter worth about $32,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ALB shares. Hsbc Global Res upgraded shares of Albemarle to a “hold” rating in a research note on Wednesday, July 17th. KeyCorp reduced their price target on Albemarle from $151.00 to $132.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Robert W. Baird lowered Albemarle from an “outperform” rating to a “neutral” rating and cut their target price for the company from $102.00 to $85.00 in a research note on Monday, August 5th. Berenberg Bank lowered Albemarle from a “buy” rating to a “hold” rating and decreased their target price for the stock from $160.00 to $83.00 in a research report on Wednesday, July 31st. Finally, Piper Sandler cut their price target 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. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $117.60.

Albemarle Stock Performance

Shares of ALB stock opened at $95.14 on Wednesday. The firm has a market cap of $11.18 billion, a PE ratio of 35.07, a P/E/G ratio of 13.81 and a beta of 1.54. Albemarle Co. has a 12 month low of $71.97 and a 12 month high of $153.54. The company’s fifty day simple moving average is $90.32 and its 200-day simple moving average is $102.34. The company has a quick ratio of 1.75, a current ratio of 2.67 and a debt-to-equity ratio of 0.38.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, July 31st. The specialty chemicals company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.49). Albemarle had a negative net margin of 6.72% and a positive return on equity of 6.38%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the company posted $7.33 earnings per share. The business’s revenue for the quarter was down 39.7% on a year-over-year basis. Equities research analysts expect that Albemarle Co. will post 0.46 EPS for the current fiscal year.

About Albemarle

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.