Albemarle Co. (NYSE:ALB) Shares Acquired by Old North State Wealth Management LLC

Old North State Wealth Management LLC lifted its position in Albemarle Co. (NYSE:ALB) by 5.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 21,113 shares of the specialty chemicals company’s stock after acquiring an additional 1,065 shares during the period. Old North State Wealth Management LLC’s holdings in Albemarle were worth $1,821,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP raised its position in shares of Albemarle by 1,400.0% in the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 252 shares during the last quarter. Trust Co. of Vermont raised its stake in 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 purchased a new stake in shares of Albemarle in the 3rd quarter valued at approximately $31,000. Cromwell Holdings LLC increased its holdings in shares of Albemarle by 61.9% during the 3rd quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 148 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its position in shares of Albemarle by 50.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 132 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Albemarle Stock Performance

Shares of ALB stock opened at $82.48 on Wednesday. The company’s fifty day simple moving average is $93.66 and its 200-day simple moving average is $93.11. 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 52 week low of $71.97 and a 52 week high of $143.19. The company has a market cap of $9.70 billion, a PE ratio of -4.92, a P/E/G ratio of 3.65 and a beta of 1.59.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wells Fargo & Company raised their price objective on Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Truist Financial initiated coverage on shares of Albemarle in a report on Tuesday, January 28th. They issued a “hold” rating and a $96.00 price objective on the stock. Mizuho dropped their target price on shares of Albemarle from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Clarkson Capital started coverage on Albemarle in a research note on Tuesday, January 14th. They set a “buy” rating and a $112.00 price target on the stock. Finally, KeyCorp dropped their price objective on Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Albemarle currently has an average rating of “Hold” and a consensus target price of $113.95.

Insider Buying and Selling at Albemarle

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the 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 of the company’s stock, valued at $7,457,296.64. This trade represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Albemarle Company 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.