Patriot Investment Management Group Inc. lowered its holdings in Albemarle Co. (NYSE:ALB – Free Report) by 6.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,543 shares of the specialty chemicals company’s stock after selling 311 shares during the period. Patriot Investment Management Group Inc.’s holdings in Albemarle were worth $391,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently made changes to their positions in the stock. Pathway Financial Advisers LLC lifted its holdings in shares of Albemarle by 9,108.7% in the 3rd quarter. Pathway Financial Advisers LLC now owns 574,805 shares of the specialty chemicals company’s stock worth $54,440,000 after purchasing an additional 568,563 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Albemarle by 38.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,020,590 shares of the specialty chemicals company’s stock worth $96,660,000 after buying an additional 282,194 shares during the period. FMR LLC boosted its holdings in shares of Albemarle by 67.3% during the third quarter. FMR LLC now owns 658,145 shares of the specialty chemicals company’s stock valued at $62,333,000 after acquiring an additional 264,756 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Albemarle by 7,667.4% during the third quarter. International Assets Investment Management LLC now owns 163,659 shares of the specialty chemicals company’s stock valued at $155,000,000 after acquiring an additional 161,552 shares during the period. Finally, Empower Advisory Group LLC increased its holdings in shares of Albemarle by 28.7% in the 3rd quarter. Empower Advisory Group LLC now owns 705,719 shares of the specialty chemicals company’s stock worth $66,839,000 after acquiring an additional 157,319 shares during the period. 92.87% of the stock is owned by institutional investors.
Albemarle Trading Down 0.4 %
Shares of NYSE:ALB opened at $89.89 on Friday. Albemarle Co. has a 12-month low of $71.97 and a 12-month high of $143.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58. The firm has a fifty day moving average of $97.17 and a two-hundred day moving average of $93.72.
Albemarle Dividend Announcement
Analyst Ratings Changes
A number of research firms have issued reports on ALB. Wells Fargo & Company boosted their target price on shares of Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Clarkson Capital began coverage on Albemarle in a research report on Tuesday, January 14th. They set a “buy” rating and a $112.00 price objective for the company. Royal Bank of Canada raised their target price on Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. 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. Finally, Robert W. Baird raised their price target on Albemarle from $79.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $115.65.
View Our Latest Stock Report on ALB
Insider Buying and Selling at Albemarle
In related news, CEO J Kent Masters sold 2,525 shares of Albemarle stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $101.12, for a total value of $255,328.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.38% of the company’s stock.
About Albemarle
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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