Monetta Financial Services Inc. Acquires Shares of 12,000 Albemarle Corporation $ALB

Monetta Financial Services Inc. acquired a new stake in Albemarle Corporation (NYSE:ALB) during the third quarter, Holdings Channel.com reports. The firm acquired 12,000 shares of the specialty chemicals company’s stock, valued at approximately $973,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALB. Hantz Financial Services Inc. lifted its holdings in Albemarle by 10,050.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 402 shares during the last quarter. Cromwell Holdings LLC increased its holdings in shares of Albemarle by 36.8% in the 3rd quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 111 shares during the last quarter. Physician Wealth Advisors Inc. acquired a new stake in shares of Albemarle during the 3rd quarter worth about $40,000. CVA Family Office LLC lifted its stake in Albemarle by 7,257.1% during the second quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 508 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Albemarle by 536.7% in the second 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. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ALB shares. JPMorgan Chase & Co. cut their price objective on shares of Albemarle from $195.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Mizuho lifted their price target on shares of Albemarle from $156.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, February 12th. BMO Capital Markets upped their price objective on shares of Albemarle from $145.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Truist Financial upgraded Albemarle from a “hold” rating to a “buy” rating and lifted their target price for the stock from $125.00 to $205.00 in a research report on Wednesday, January 21st. Finally, Scotiabank raised Albemarle from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $85.00 to $200.00 in a research report on Monday, January 12th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Albemarle presently has an average rating of “Moderate Buy” and an average price target of $168.24.

Albemarle Stock Performance

Shares of ALB stock opened at $177.51 on Tuesday. The stock’s 50-day moving average price is $162.78 and its 200 day moving average price is $119.96. The company has a quick ratio of 1.57, a current ratio of 2.23 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $20.92 billion, a PE ratio of -30.87, a price-to-earnings-growth ratio of 1.76 and a beta of 1.44. Albemarle Corporation has a 52-week low of $49.43 and a 52-week high of $195.68.

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

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.