Pacer Advisors Inc. boosted its holdings in shares of Albemarle Co. (NYSE:ALB - Free Report) by 71.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,948 shares of the specialty chemicals company's stock after acquiring an additional 6,234 shares during the quarter. Pacer Advisors Inc.'s holdings in Albemarle were worth $1,287,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in Albemarle by 38.2% during 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 purchasing an additional 282,194 shares in the last quarter. Empower Advisory Group LLC raised 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 valued at $66,839,000 after buying an additional 157,319 shares during the period. Vest Financial LLC lifted its stake in Albemarle by 32.4% during the 3rd quarter. Vest Financial LLC now owns 521,537 shares of the specialty chemicals company's stock worth $49,395,000 after acquiring an additional 127,549 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Albemarle by 28.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 423,049 shares of the specialty chemicals company's stock valued at $40,067,000 after acquiring an additional 93,718 shares during the period. Finally, FMR LLC grew its position in Albemarle by 67.3% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.
Analysts Set New Price Targets
ALB has been the subject of several recent research reports. Truist Financial began coverage on shares of Albemarle in a research note on Tuesday, January 28th. They issued a "hold" rating and a $96.00 price objective for the company. Mizuho dropped their price target on shares of Albemarle from $110.00 to $105.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada increased their price objective on Albemarle from $108.00 to $133.00 and gave the company an "outperform" rating in a research note on Tuesday, November 12th. Evercore ISI cut Albemarle from an "outperform" rating to an "inline" rating in a research note on Wednesday. Finally, Clarkson Capital began coverage on Albemarle in a research report on Tuesday, January 14th. They issued a "buy" rating and a $112.00 price target on the stock. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $113.95.
Check Out Our Latest Stock Report on ALB
Albemarle Stock Performance
Shares of Albemarle stock traded down $0.90 during trading on Thursday, reaching $78.99. The company's stock had a trading volume of 2,238,535 shares, compared to its average volume of 2,262,977. The firm has a market cap of $9.28 billion, a PE ratio of -4.72, a P/E/G ratio of 3.65 and a beta of 1.59. The company has a 50-day moving average price of $92.52 and a two-hundred day moving average price of $92.92. The company has a current ratio of 2.44, a quick ratio of 1.58 and a debt-to-equity ratio of 0.43. Albemarle Co. has a fifty-two week low of $71.97 and a fifty-two week high of $143.19.
Insider Buying and Selling at Albemarle
In other news, CEO J Kent Masters sold 2,525 shares of the business's stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.38% of the stock is currently owned by company insiders.
About Albemarle
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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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