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Janney Montgomery Scott LLC Sells 21,938 Shares of Albemarle Co. (NYSE:ALB)

Albemarle logo with Basic Materials background

Janney Montgomery Scott LLC cut its holdings in shares of Albemarle Co. (NYSE:ALB - Free Report) by 19.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,409 shares of the specialty chemicals company's stock after selling 21,938 shares during the period. Janney Montgomery Scott LLC owned about 0.08% of Albemarle worth $8,041,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALB. Westside Investment Management Inc. grew its stake in shares of Albemarle by 16.4% in the fourth quarter. Westside Investment Management Inc. now owns 1,560 shares of the specialty chemicals company's stock worth $134,000 after purchasing an additional 220 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Albemarle by 48.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company's stock valued at $36,000 after buying an additional 136 shares during the last quarter. City Holding Co. increased its stake in shares of Albemarle by 21.6% in the fourth quarter. City Holding Co. now owns 2,960 shares of the specialty chemicals company's stock valued at $255,000 after buying an additional 525 shares during the period. Trust Co. of Vermont raised its position in shares of Albemarle by 606.5% during the fourth quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company's stock worth $28,000 after acquiring an additional 279 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of Albemarle in the fourth quarter worth approximately $220,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Stock Down 3.0 %

Albemarle stock traded down $2.70 during midday trading on Tuesday, hitting $86.09. 1,888,407 shares of the stock were exchanged, compared to its average volume of 2,193,501. Albemarle Co. has a 52-week low of $71.97 and a 52-week high of $143.19. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. The business's 50-day moving average price is $96.16 and its 200-day moving average price is $93.49. The stock has a market capitalization of $10.12 billion, a price-to-earnings ratio of -5.14, a price-to-earnings-growth ratio of 3.19 and a beta of 1.58.

Insider Activity

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of Albemarle stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $101.12, for a total value of $255,328.00. Following the sale, the chief executive officer now owns 73,747 shares of the company's stock, valued at approximately $7,457,296.64. The trade was a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of Albemarle from $108.00 to $133.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th. Clarkson Capital assumed coverage on shares of Albemarle in a report on Tuesday, January 14th. They issued a "buy" rating and a $112.00 target price on the stock. Oppenheimer decreased their price target on Albemarle from $171.00 to $170.00 and set an "outperform" rating for the company in a report on Friday, November 8th. Wells Fargo & Company upped their target price on Albemarle from $100.00 to $110.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 8th. Finally, Mizuho lowered their target price on Albemarle from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $114.71.

Get Our Latest Analysis on ALB

About Albemarle

(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

Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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