Ferguson Wellman Capital Management Inc. Acquires 338 Shares of Albemarle Co. (NYSE:ALB)

Ferguson Wellman Capital Management Inc. lifted its position in shares of Albemarle Co. (NYSE:ALB) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,095 shares of the specialty chemicals company’s stock after purchasing an additional 338 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Albemarle were worth $352,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Quarry LP raised its position in Albemarle by 1,400.0% in the third 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 period. Trust Co. of Vermont grew 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 valued at $28,000 after acquiring an additional 279 shares in the last quarter. Eastern Bank purchased a new position in Albemarle during the third quarter valued at approximately $31,000. First Community Trust NA grew its stake in Albemarle by 55.0% during the fourth quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 142 shares in the last quarter. Finally, Ameliora Wealth Management Ltd. purchased a new position in Albemarle in the 4th quarter worth approximately $35,000. 92.87% of the stock is owned by institutional investors.

Albemarle Price Performance

ALB opened at $75.07 on Tuesday. 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 market capitalization of $8.82 billion, a P/E ratio of -4.48, a P/E/G ratio of 3.43 and a beta of 1.59. The company’s 50-day simple moving average is $91.19 and its two-hundred day simple moving average is $92.71. Albemarle Co. has a 52-week low of $71.97 and a 52-week high of $143.19.

Insider Buying and Selling

In related news, CEO J Kent Masters sold 2,525 shares of the firm’s 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 transaction, 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 SEC, which can be accessed through this link. 0.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ALB has been the subject of a number of research reports. Clarkson Capital started coverage on shares of Albemarle in a research note on Tuesday, January 14th. They issued a “buy” rating and a $112.00 price target for the company. Robert W. Baird upped their price target on shares of Albemarle from $79.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. Truist Financial started coverage on shares of Albemarle in a research report on Tuesday, January 28th. They set a “hold” rating and a $96.00 price objective on the stock. Mizuho reduced their price objective on shares of Albemarle from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Oppenheimer reduced their target price on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $113.95.

About Albemarle

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.