By otakuyassine3@gmail.com 
Evermay Wealth Management LLC cut its position in shares of Albemarle Co. (NYSE:ALB – Free Report) by 44.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 364 shares of the specialty chemicals company’s stock after selling 291 shares during the period. Evermay Wealth Management LLC’s holdings in Albemarle were worth $31,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings in shares of Albemarle by 3.7% in the third quarter. Farther Finance Advisors LLC now owns 2,832 shares of the specialty chemicals company’s stock valued at $268,000 after purchasing an additional 102 shares in the last quarter. TD Private Client Wealth LLC grew its stake in shares of Albemarle by 50.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 132 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings 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 worth $36,000 after buying an additional 136 shares during the last quarter. First Community Trust NA raised its position in shares of Albemarle by 55.0% during the 4th quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 142 shares in the last quarter. Finally, abrdn plc lifted its holdings in shares of Albemarle by 0.3% in the 3rd quarter. abrdn plc now owns 42,529 shares of the specialty chemicals company’s stock valued at $4,031,000 after acquiring an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. KeyCorp decreased their price objective on Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Oppenheimer lowered their price target on Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada boosted their price objective on shares of Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Truist Financial initiated coverage on shares of Albemarle in a research note on Tuesday, January 28th. They set a “hold” rating and a $96.00 price target for the company. Finally, Mizuho reduced their price objective on shares of Albemarle from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $113.95.
View Our Latest Stock Analysis on ALB
Albemarle Price Performance
Shares of ALB opened at $83.99 on Friday. The stock has a market capitalization of $9.87 billion, a PE ratio of -5.01, a PEG ratio of 3.74 and a beta of 1.58. The company has a 50 day moving average price of $94.74 and a 200-day moving average price of $93.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44. Albemarle Co. has a fifty-two week low of $71.97 and a fifty-two week high of $143.19.
Insiders Place Their Bets
In other news, CEO J Kent Masters sold 2,525 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $101.12, for a total value of $255,328.00. Following the completion of the transaction, the chief executive officer now directly 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 legal filing with the SEC, which is accessible through this link. 0.38% of the stock is owned by company insiders.
Albemarle Profile
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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