Proshare Advisors Reduces $110M in Albemarle Corporation ($ALB)
Key Points
- Proshare Advisors changed its Albemarle Corporation ($ALB) stake by 46.31% last quarter, cutting to 948,247 shares worth $127.01 million.
- Wall Street's consensus rating on $ALB is Buy and an average price target of $172.56.
- $ALB last traded around $133.94.
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Proshare Advisors reduced its position in Albemarle Corporation ($ALB) by 46.31% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 948,247 shares of Albemarle Corporation after selling 817,950 shares during the quarter. Proshare Advisors's holdings in Albemarle Corporation were worth $127.01 million as of its most recent filing.
Albemarle Corporation Stock Down 2.5%
Shares of Albemarle Corporation ($ALB) traded around $133.94 on Saturday, down 2.5% for the day.
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About Albemarle Corporation
Albemarle Corporation provides energy storage solutions 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 for use in lithium batteries used in consumer electronics and electric vehicles; power grids and solar panels; high-performance greases; and specialty glass used in consumer appliances and electronics. The Specialties segment provides bromine and highly specialized lithium solutions for various industries, such as energy, mobility, connectivity, and health comprising fire safety compounds; bromine-based specialty chemical products, including elemental bromine, alkyl bromides, inorganic bromides, brominated powdered activated carbon, and various bromine fine chemicals; lithium specialties, such as butyllithium and lithium aluminum hydride; cesium products for the chemical and pharmaceutical industries; and zirconium, barium, and titanium products for pyrotechnical applications, including airbag initiators. This segment also provides organic synthesis processes in the areas of steroid chemistry and vitamins, and various life science applications, as well as intermediates for the pharmaceutical industry; technical services, including handling and use of reactive lithium products; and recycling services for lithium-containing by-products. The Ketjen segment offers clean fuels technologies, including hydroprocessing catalysts together with isomerization and alkylation catalysts; fluidized catalytic cracking catalysts and additives; and performance catalyst solutions comprising organometallics and curatives. It serves the grid storage, automotive, aerospace, conventional energy, electronics, construction, agriculture and food, pharmaceuticals, and medical device industries. Albemarle Corporation was founded in 1887 and is headquartered in Charlotte, North Carolina.
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