Epiq Partners LLC Decreases Stake in Albemarle Co. (NYSE:ALB)

Epiq Partners LLC cut its stake in shares of Albemarle Co. (NYSE:ALB) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,217 shares of the specialty chemicals company’s stock after selling 1,650 shares during the quarter. Albemarle comprises approximately 1.1% of Epiq Partners LLC’s investment portfolio, making the stock its 28th biggest holding. Epiq Partners LLC’s holdings in Albemarle were worth $1,999,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in Albemarle by 38.2% during the 3rd 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 last quarter. Empower Advisory Group LLC raised its holdings in shares of Albemarle by 28.7% during the third quarter. Empower Advisory Group LLC now owns 705,719 shares of the specialty chemicals company’s stock worth $66,839,000 after purchasing an additional 157,319 shares during the last quarter. MBB Public Markets I LLC lifted its position in Albemarle by 392.6% during the second 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 period. Vest Financial LLC boosted its holdings in Albemarle by 32.4% in the third quarter. Vest Financial LLC now owns 521,537 shares of the specialty chemicals company’s stock valued at $49,395,000 after purchasing an additional 127,549 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position 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 worth $40,067,000 after purchasing an additional 93,718 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Albemarle Stock Performance

NYSE ALB opened at $88.69 on Tuesday. The stock has a fifty day simple moving average of $96.56 and a 200-day simple moving average of $93.58. The company has a current ratio of 2.44, a quick ratio of 1.58 and a debt-to-equity ratio of 0.43. The stock has a market cap of $10.42 billion, a PE ratio of -5.29, a P/E/G ratio of 3.19 and a beta of 1.58. Albemarle Co. has a twelve month low of $71.97 and a twelve month high of $143.19.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Mizuho lowered their target price on Albemarle from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Oppenheimer dropped their price objective on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Robert W. Baird boosted their target price on shares of Albemarle from $79.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Royal Bank of Canada increased their price target on shares of Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, KeyCorp decreased their price objective on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Albemarle presently has an average rating of “Hold” and an average price target of $115.65.

Insiders Place Their Bets

In related news, CEO J Kent Masters sold 2,525 shares of Albemarle stock in a transaction that occurred 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 in the company, 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 Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is currently owned by 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.