By otakuyassine3@gmail.com 
MFA Wealth Advisors LLC raised its stake in Albemarle Co. (NYSE:ALB – Free Report) by 21.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,087 shares of the specialty chemicals company’s stock after purchasing an additional 2,527 shares during the period. MFA Wealth Advisors LLC’s holdings in Albemarle were worth $1,213,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Quarry LP raised its stake in Albemarle by 1,400.0% during the 3rd quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 252 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 purchasing an additional 279 shares during the period. Eastern Bank bought a new position in shares of Albemarle in the 3rd quarter worth $31,000. Cromwell Holdings LLC increased its stake in Albemarle by 61.9% during the 3rd quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 148 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in Albemarle by 50.4% during the third 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 during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.
Insider Buying and Selling at Albemarle
In other news, CEO J Kent Masters sold 2,525 shares of the company’s 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 transaction, the chief executive officer now owns 73,747 shares of the company’s stock, valued at approximately $7,457,296.64. This represents a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.38% of the company’s stock.
Wall Street Analyst Weigh In
ALB has been the subject of a number of analyst reports. Royal Bank of Canada lifted their price objective on shares of Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Clarkson Capital started coverage on Albemarle in a report on Tuesday, January 14th. They issued a “buy” rating and a $112.00 target price on the stock. Robert W. Baird upped their price target on Albemarle from $79.00 to $103.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Truist Financial assumed coverage on Albemarle in a research note on Tuesday, January 28th. They set a “hold” rating and a $96.00 price objective on the stock. Finally, Oppenheimer lowered their target price on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Albemarle currently has an average rating of “Hold” and an average target price of $113.95.
Check Out Our Latest Analysis on ALB
Albemarle Price Performance
Albemarle stock opened at $77.30 on Monday. The business has a fifty day moving average price of $91.91 and a 200-day moving average price of $92.83. The firm has a market capitalization of $9.09 billion, a P/E ratio of -4.61, a PEG ratio of 3.43 and a beta of 1.59. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58. Albemarle Co. has a one year low of $71.97 and a one year high of $143.19.
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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