Albemarle Corporation (NYSE:ALB) Sellers Covered 12.01% of Their Shorts


The stock of Albemarle Corporation (NYSE:ALB) registered a decrease of 12.01% in short interest. ALB’s total short interest was 3.58 million shares in September as published by FINRA. Its down 12.01% from 4.07 million shares, reported previously. With 1.12 million shares average volume, it will take short sellers 3 days to cover their ALB’s short positions. The short interest to Albemarle Corporation’s float is 3.2%. About 984,676 shares traded hands. Albemarle Corporation (NYSE:ALB) has risen 58.72% since February 8, 2016 and is uptrending. It has outperformed by 42.23% 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 $8.63 billion. The Firm operates through three divisions: Performance Chemicals, Refining Solutions and Chemetall Surface Treatment. It has a 16.03 P/E ratio. The Company’s Performance Chemicals segment consists of three product categories: Lithium, Performance Catalyst Solutions and Bromine.

The institutional sentiment increased to 1.36 in Q2 2016. Its up 0.26, from 1.1 in 2016Q1. The ratio increased, 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.

Longbow Capital Partners L.P. holds 20.01% of its portfolio in Albemarle Corporation for 11,321 shares. Tide Point Capital Management Lp owns 857,598 shares or 5.15% of their US portfolio. Moreover, Horseman Capital Management Ltd has 4.79% invested in the company for 277,100 shares. The Netherlands-based Spf Beheer Bv has invested 4.2% in the stock. Gavekal Capital Llc, a Colorado-based fund reported 144,981 shares.

Out of 8 analysts covering Albemarle (NYSE:ALB), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. Albemarle has been the topic of 18 analyst reports since September 16, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained the stock on August 5 with “Buy” rating.

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