Cromwell Holdings LLC Purchases 148 Shares of Albemarle Co. (NYSE:ALB)

Cromwell Holdings LLC increased its position in Albemarle Co. (NYSE:ALB) by 61.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 387 shares of the specialty chemicals company’s stock after acquiring an additional 148 shares during the quarter. Cromwell Holdings LLC’s holdings in Albemarle were worth $37,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. WFA Asset Management Corp bought a new position in shares of Albemarle in the first quarter worth about $25,000. First Community Trust NA bought a new position in Albemarle in the 2nd quarter worth approximately $25,000. CVA Family Office LLC lifted its holdings in shares of Albemarle by 610.0% during the second quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 244 shares during the last quarter. Eastern Bank bought a new stake in shares of Albemarle in the third quarter valued at approximately $31,000. Finally, ORG Partners LLC increased its position in Albemarle by 2,142.1% during the second quarter. ORG Partners LLC now owns 426 shares of the specialty chemicals company’s stock worth $42,000 after acquiring an additional 407 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Stock Down 1.7 %

NYSE:ALB opened at $93.51 on Friday. 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 Co. has a 12-month low of $71.97 and a 12-month high of $153.54. The stock’s fifty day simple moving average is $91.35 and its 200-day simple moving average is $101.96. The firm has a market capitalization of $10.99 billion, a P/E ratio of 34.00, a P/E/G ratio of 13.81 and a beta of 1.54.

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

Analyst Ratings Changes

A number of research analysts have recently commented on ALB shares. Evercore ISI cut their price objective on shares of Albemarle from $190.00 to $170.00 and set an “outperform” rating for the company in a research report on Wednesday, August 28th. Royal Bank of Canada cut their price objective on Albemarle from $128.00 to $111.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. KeyCorp reduced their target price on shares of Albemarle from $151.00 to $132.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Mizuho dropped their target price on shares of Albemarle from $128.00 to $103.00 in a research report on Wednesday, July 31st. Finally, HSBC cut Albemarle from a “buy” rating to a “hold” rating and set a $95.00 price target for the company. in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Albemarle currently has a consensus rating of “Hold” and a consensus price target of $117.30.

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.