abrdn plc Sells 3,919 Shares of Albemarle Co. (NYSE:ALB)

abrdn plc cut its holdings in shares of Albemarle Co. (NYSE:ALB) by 9.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,610 shares of the specialty chemicals company’s stock after selling 3,919 shares during the period. abrdn plc’s holdings in Albemarle were worth $3,333,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ALB. Quarry LP lifted its position in shares of 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 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 acquiring an additional 279 shares in the last quarter. Eastern Bank bought a new position in shares of Albemarle in the third quarter worth about $31,000. First Community Trust NA boosted its stake in shares of Albemarle by 55.0% in the 4th quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 142 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Albemarle by 48.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 136 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Clarkson Capital assumed coverage on shares of Albemarle in a research report on Tuesday, January 14th. They issued a “buy” rating and a $112.00 target price on the stock. KeyCorp cut their price objective on Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Robert W. Baird upped their target price on Albemarle from $79.00 to $103.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Mizuho cut their price target on Albemarle from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Evercore ISI downgraded Albemarle from an “outperform” rating to an “inline” rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Albemarle has an average rating of “Hold” and an average price target of $113.95.

Albemarle Trading Down 2.2 %

Shares of ALB stock opened at $77.30 on Monday. Albemarle Co. has a fifty-two week low of $71.97 and a fifty-two week high of $143.19. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44. The stock has a 50 day simple moving average of $91.91 and a two-hundred day simple moving average of $92.83. The company has a market cap of $9.09 billion, a P/E ratio of -4.61, a PEG ratio of 3.43 and a beta of 1.59.

Insider Activity

In other news, CEO J Kent Masters sold 2,525 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 73,747 shares in the company, valued at $7,457,296.64. This trade represents a 3.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.38% of the stock is currently 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.