Today’s Short Interest Alert: What Next for Albemarle Corporation (NYSE:ALB) Stock After Decrease in Shorted Shares?

November 24, 2016 - By Linda Rogers   ·   0 Comments

Today's Short Interest Alert: What Next for Albemarle Corporation (NYSE:ALB) Stock After Decrease in Shorted Shares?

The stock of Albemarle Corporation (NYSE:ALB) registered a decrease of 1.6% in short interest. ALB’s total short interest was 3.16M shares in November as published by FINRA. Its down 1.6% from 3.22 million shares, reported previously. With 618,400 shares average volume, it will take short sellers 5 days to cover their ALB’s short positions. The short interest to Albemarle Corporation’s float is 2.82%. The stock decreased 0.50% or $0.42 on November 23, hitting $83.88. About 630,260 shares traded hands. Albemarle Corporation (NYSE:ALB) has risen 26.63% since April 22, 2016 and is uptrending. It has outperformed by 21.22% the S&P500.

Albemarle Corporation is a developer, maker and marketer of specialty chemicals across a range of end markets, including the petroleum refining, consumer electronics, energy storage, construction, automotive, steel and aerospace, lubricants, pharmaceuticals, heating, ventilation, and aluminum finishing. The company has a market cap of $9.49 billion. The Firm operates through three divisions: Performance Chemicals, Refining Solutions and Chemetall Surface Treatment. It has a 16.47 P/E ratio. The Company’s Performance Chemicals segment consists of three product categories: Lithium, Performance Catalyst Solutions and Bromine.

Insitutional Activity: The institutional sentiment decreased to 1.1 in 2016 Q2. Its down 0.26, from 1.36 in 2016Q1. The ratio turned negative, as 31 funds sold all Albemarle Corporation shares owned while 112 reduced positions. 80 funds bought stakes while 115 increased positions. They now own 96.46 million shares or 7.92% less from 104.76 million shares in 2016Q1.
The Michigan-based Ls Inv Advsrs Ltd Llc has invested 0.02% in Albemarle Corporation (NYSE:ALB). Geode Cap Mngmt Ltd Liability Com has 0.04% invested in the company for 927,694 shares. Nordea Investment Mngmt holds 1,412 shares or 0% of its portfolio. Keybank Natl Association Oh holds 0.04% of its portfolio in Albemarle Corporation (NYSE:ALB) for 71,778 shares. Dimensional Fund Advsr Ltd Partnership accumulated 1.36 million shares or 0.06% of the stock. Glg Limited Co holds 0.02% of its portfolio in Albemarle Corporation (NYSE:ALB) for 4,166 shares. Amp Cap Investors holds 42,726 shares or 0.02% of its portfolio. Boston Private Wealth Limited Liability Corporation last reported 0.05% of its portfolio in the stock. Pioneer Inv Mgmt last reported 0.03% of its portfolio in the stock. Clearbridge Ltd Liability Company reported 320 shares or 0% of all its holdings. The Minnesota-based Advantus Capital Mngmt has invested 0.02% in Albemarle Corporation (NYSE:ALB). Benjamin F Edwards & Inc owns 1,438 shares or 0.02% of their US portfolio. Luminus Mgmt Ltd has 614,056 shares for 1.4% of their US portfolio. Golden Gate Private Equity last reported 1.25% of its portfolio in the stock. Voya Inv Ltd Com holds 179,600 shares or 0.04% of its portfolio.

Insider Transactions: Since August 5, 2016, the stock had 0 buys, and 2 insider sales for $4.51 million net activity. 4,300 Albemarle Corporation (NYSE:ALB) shares with value of $352,978 were sold by SHERMAN JOHN JR. KISSAM LUTHER C IV sold 50,000 shares worth $4.16M.

Albemarle Corporation (NYSE:ALB) Ratings Coverage

Out of 11 analysts covering Albemarle Corporation (NYSE:ALB), 8 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 73% are positive. $95 is the highest target while $52 is the lowest. The $75.78 average target is -9.66% below today’s ($83.88) stock price. Albemarle Corporation has been the topic of 23 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The rating was maintained by Suntrust Robinson with “Buy” on Thursday, May 12. The rating was upgraded by Citigroup to “Buy” on Monday, November 2. The firm has “Buy” rating by Deutsche Bank given on Thursday, August 20. JP Morgan maintained it with “Neutral” rating and $52 target price in Tuesday, February 23 report. Jefferies maintained the shares of ALB in a report on Thursday, May 12 with “Buy” rating. Deutsche Bank maintained Albemarle Corporation (NYSE:ALB) on Wednesday, September 16 with “Buy” rating. On Tuesday, August 9 the stock rating was maintained by Citigroup with “Buy”. The stock of Albemarle Corporation (NYSE:ALB) has “Neutral” rating given on Wednesday, November 11 by UBS. The rating was maintained by UBS on Thursday, August 4 with “Neutral”. The stock of Albemarle Corporation (NYSE:ALB) has “Buy” rating given on Friday, August 7 by Suntrust Robinson.

ALB Company Profile

Albemarle Corporation, incorporated on November 24, 1993, is a developer, maker and marketer of specialty chemicals across a range of end markets, including the petroleum refining, consumer electronics, energy storage, construction, automotive, steel and aerospace, lubricants, pharmaceuticals, crop protection, household appliances, heating, ventilation, aluminum finishing, food safety and custom chemistry services. The Firm operates through three divisions: Performance Chemicals, Refining Solutions and Chemetall Surface Treatment.

More important recent Albemarle Corporation (NYSE:ALB) news were published by: Fool.com which released: “The World’s Largest Lithium Supplier, Albemarle Corporation, Delivers Solid Q3 …” on November 10, 2016, also Prnewswire.com published article titled: “Albemarle Corporation to host 2017 Investor Day in New York City”, Prnewswire.com published: “Albemarle Corporation to present at Morgan Stanley Global Chemicals and …” on October 20, 2016. More interesting news about Albemarle Corporation (NYSE:ALB) was released by: Prnewswire.com and their article: “Albemarle Corporation to release third quarter 2016 earnings results on …” with publication date: October 06, 2016.

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By Linda Rogers


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