FLC Capital Advisors Has $210,000 Stock Holdings in Albemarle Co. (NYSE:ALB)

FLC Capital Advisors cut its holdings in Albemarle Co. (NYSE:ALB) by 42.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,218 shares of the specialty chemicals company’s stock after selling 1,646 shares during the quarter. FLC Capital Advisors’ holdings in Albemarle were worth $210,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. WFA Asset Management Corp bought a new position in Albemarle in the first quarter valued at about $25,000. First Financial Corp IN bought a new position in Albemarle in the first quarter valued at about $32,000. First Community Trust NA bought a new position in Albemarle in the second quarter valued at about $25,000. CVA Family Office LLC boosted its holdings in Albemarle by 610.0% in the second quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 244 shares during the last quarter. Finally, Eagle Bay Advisors LLC boosted its holdings in Albemarle by 45.0% in the first quarter. Eagle Bay Advisors LLC now owns 332 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 103 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on ALB shares. JPMorgan Chase & Co. decreased their price target on Albemarle from $115.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. Berenberg Bank cut Albemarle from a “buy” rating to a “hold” rating and reduced their target price for the stock from $160.00 to $83.00 in a report on Wednesday, July 31st. Scotiabank reduced their target price on Albemarle from $135.00 to $85.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 6th. Mizuho reduced their target price on Albemarle from $128.00 to $103.00 in a report on Wednesday, July 31st. Finally, Robert W. Baird cut Albemarle from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $102.00 to $85.00 in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Albemarle currently has a consensus rating of “Hold” and a consensus target price of $117.60.

Albemarle Stock Up 2.6 %

Shares of Albemarle stock opened at $98.25 on Thursday. The business’s 50 day simple moving average is $89.06 and its 200 day simple moving average is $103.36. Albemarle Co. has a 52-week low of $71.97 and a 52-week high of $172.09. The firm has a market cap of $11.55 billion, a PE ratio of 35.73, a P/E/G ratio of 13.81 and a beta of 1.54. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.75 and a current ratio of 2.67.

Albemarle (NYSE:ALB) last announced 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). Albemarle had a negative net margin of 6.72% and a positive return on equity of 6.38%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the business posted $7.33 EPS. The firm’s quarterly revenue was down 39.7% compared to the same quarter last year. On average, analysts predict that Albemarle Co. will post 0.46 earnings per share for the current fiscal year.

Albemarle Company Profile

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.