Lewis Asset Management LLC lessened its holdings in shares of Albemarle Co. (NYSE:ALB - Free Report) by 60.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,510 shares of the specialty chemicals company's stock after selling 3,827 shares during the period. Lewis Asset Management LLC's holdings in Albemarle were worth $216,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Quarry LP grew its holdings in shares of Albemarle by 1,400.0% during the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company's stock valued at $26,000 after purchasing an additional 252 shares during the last quarter. Trust Co. of Vermont grew its stake in Albemarle by 606.5% during the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company's stock worth $28,000 after buying an additional 279 shares during the last quarter. Eastern Bank acquired a new stake in Albemarle in the third quarter worth $31,000. Cromwell Holdings LLC lifted its stake in Albemarle by 61.9% in the third quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company's stock valued at $37,000 after buying an additional 148 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in shares of Albemarle by 50.4% during the third quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company's stock valued at $37,000 after acquiring an additional 132 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.
Albemarle Price Performance
NYSE ALB opened at $86.35 on Thursday. The stock has a market capitalization of $10.15 billion, a P/E ratio of -5.16, a P/E/G ratio of 3.19 and a beta of 1.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44. The business's fifty day moving average is $95.69 and its two-hundred day moving average is $93.44. Albemarle Co. has a 1 year low of $71.97 and a 1 year high of $143.19.
Insider Transactions at Albemarle
In other news, CEO J Kent Masters sold 2,525 shares of the business's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $101.12, for a total transaction of $255,328.00. Following the sale, the chief executive officer now owns 73,747 shares in the company, valued at $7,457,296.64. The trade was a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is owned by insiders.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Robert W. Baird increased their price objective on shares of Albemarle from $79.00 to $103.00 and gave the stock a "neutral" rating in a report on Wednesday, December 18th. Truist Financial initiated coverage on Albemarle in a report on Tuesday. They set a "hold" rating and a $96.00 price target on the stock. Clarkson Capital assumed coverage on Albemarle in a report on Tuesday, January 14th. They issued a "buy" rating and a $112.00 price objective for the company. Oppenheimer cut their target price on Albemarle from $171.00 to $170.00 and set an "outperform" rating on the stock in a research note on Friday, November 8th. Finally, Mizuho reduced their price target on Albemarle from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $113.95.
Get Our Latest Stock Report on ALB
Albemarle Company Profile
(
Free Report)
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.
Further Reading
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