17,000 Shares in Albemarle Corporation $ALB Bought by Mitsubishi UFJ Asset Management UK Ltd.

Mitsubishi UFJ Asset Management UK Ltd. acquired a new stake in Albemarle Corporation (NYSE:ALB) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 17,000 shares of the specialty chemicals company’s stock, valued at approximately $1,378,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALB. Manning & Napier Advisors LLC acquired a new stake in shares of Albemarle in the 3rd quarter valued at about $138,723,000. ProShare Advisors LLC boosted its position in shares of Albemarle by 48.5% during the second quarter. ProShare Advisors LLC now owns 2,870,110 shares of the specialty chemicals company’s stock worth $179,870,000 after buying an additional 937,538 shares during the period. AQR Capital Management LLC grew its holdings in shares of Albemarle by 22,047.4% during the second quarter. AQR Capital Management LLC now owns 713,812 shares of the specialty chemicals company’s stock worth $44,613,000 after buying an additional 710,589 shares in the last quarter. Norges Bank acquired a new stake in Albemarle in the 2nd quarter valued at approximately $29,482,000. Finally, HB Wealth Management LLC lifted its stake in Albemarle by 1,278.8% in the 3rd quarter. HB Wealth Management LLC now owns 440,608 shares of the specialty chemicals company’s stock valued at $35,725,000 after acquiring an additional 408,652 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Albemarle Stock Performance

Shares of ALB stock opened at $168.33 on Friday. The company has a fifty day moving average price of $161.88 and a two-hundred day moving average price of $118.49. Albemarle Corporation has a one year low of $49.43 and a one year high of $195.68. The stock has a market cap of $19.84 billion, a P/E ratio of -29.28, a P/E/G ratio of 1.76 and a beta of 1.44. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.23 and a quick ratio of 1.57.

Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.13). Albemarle had a negative net margin of 10.74% and a positive return on equity of 0.41%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the company posted ($1.09) earnings per share. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, equities analysts predict that Albemarle Corporation will post -0.04 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ALB shares. Wells Fargo & Company set a $165.00 price target on shares of Albemarle in a research note on Monday. HSBC upgraded shares of Albemarle from a “hold” rating to a “buy” rating and set a $200.00 target price for the company in a report on Monday, January 19th. Robert W. Baird set a $210.00 price target on shares of Albemarle and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada boosted their price target on shares of Albemarle from $200.00 to $216.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Bank of America upgraded Albemarle from a “neutral” rating to a “buy” rating and raised their price objective for the company from $167.00 to $190.00 in a report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $167.52.

Albemarle Company 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.