PFG Investments LLC Lowers Position in Albemarle Co. (NYSE:ALB)

PFG Investments LLC decreased its stake in shares of Albemarle Co. (NYSE:ALB) by 5.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,404 shares of the specialty chemicals company’s stock after selling 126 shares during the period. PFG Investments LLC’s holdings in Albemarle were worth $207,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ALB. Quarry LP boosted its holdings 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 acquiring an additional 252 shares during the last quarter. Trust Co. of Vermont lifted 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 valued at $28,000 after purchasing an additional 279 shares in the last quarter. Eastern Bank purchased a new position in Albemarle during the third quarter worth about $31,000. Cromwell Holdings LLC increased its stake in Albemarle by 61.9% in the 3rd quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 148 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted 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 worth $37,000 after buying an additional 132 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Insider Activity

In related news, CEO J Kent Masters sold 2,525 shares of Albemarle stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $101.12, for a total transaction 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 approximately $7,457,296.64. This trade represents a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Mizuho reduced their target price on Albemarle from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. KeyCorp reduced 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. Oppenheimer lowered their target price on 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 increased their price target on shares of Albemarle from $79.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company lifted their price objective on shares of Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Albemarle presently has a consensus rating of “Hold” and a consensus price target of $113.95.

Albemarle Stock Down 1.9 %

Shares of NYSE ALB opened at $83.99 on Friday. The business has a 50-day simple moving average of $94.74 and a two-hundred day simple moving average of $93.28. 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 $9.87 billion, a P/E ratio of -5.01, a P/E/G ratio of 3.74 and a beta of 1.58. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43.

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.