Manning & Napier Advisors LLC acquired a new stake in Albemarle Co. (NYSE:ALB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 994,079 shares of the specialty chemicals company's stock, valued at approximately $85,570,000. Manning & Napier Advisors LLC owned about 0.85% of Albemarle at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Public Sector Pension Investment Board increased its holdings in Albemarle by 70.1% in the second quarter. Public Sector Pension Investment Board now owns 4,499 shares of the specialty chemicals company's stock valued at $430,000 after purchasing an additional 1,854 shares during the period. MBB Public Markets I LLC boosted its stake in shares of Albemarle by 392.6% in the 2nd quarter. MBB Public Markets I LLC now owns 7,916 shares of the specialty chemicals company's stock valued at $756,000 after purchasing an additional 6,309 shares during the last quarter. Creative Planning raised its stake in Albemarle by 165.6% during the second quarter. Creative Planning now owns 39,623 shares of the specialty chemicals company's stock worth $3,785,000 after buying an additional 24,704 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Albemarle by 90.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 48,324 shares of the specialty chemicals company's stock valued at $4,616,000 after acquiring an additional 22,924 shares during the last quarter. Finally, Regal Investment Advisors LLC grew its holdings in Albemarle by 57.4% during the 2nd quarter. Regal Investment Advisors LLC now owns 3,064 shares of the specialty chemicals company's stock worth $293,000 after acquiring an additional 1,117 shares during the period. Institutional investors own 92.87% of the company's stock.
Analyst Upgrades and Downgrades
ALB has been the topic of a number of research analyst reports. Clarkson Capital began coverage on Albemarle in a report on Tuesday, January 14th. They set a "buy" rating and a $112.00 price target 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 research report on Wednesday, December 18th. Truist Financial started coverage on Albemarle in a research note on Tuesday. They set a "hold" rating and a $96.00 price target on the stock. Wells Fargo & Company boosted their price objective on Albemarle from $100.00 to $110.00 and gave the company an "equal weight" rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada boosted their price target on shares of Albemarle from $108.00 to $133.00 and gave the company an "outperform" rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $113.95.
View Our Latest Stock Analysis on Albemarle
Insiders Place Their Bets
In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the firm's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $101.12, for a total transaction of $255,328.00. Following the transaction, the chief executive officer now owns 73,747 shares of the company's stock, valued at approximately $7,457,296.64. This trade represents a 3.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.38% of the stock is owned by insiders.
Albemarle Price Performance
Albemarle stock traded down $0.49 during mid-day trading on Thursday, reaching $85.79. 1,928,892 shares of the company's stock traded hands, compared to its average volume of 2,152,481. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. Albemarle Co. has a 12-month low of $71.97 and a 12-month high of $143.19. The stock has a 50 day moving average of $95.69 and a two-hundred day moving average of $93.44. The company has a market cap of $10.08 billion, a price-to-earnings ratio of -5.12, a PEG ratio of 3.19 and a beta of 1.58.
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.
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