Creative Planning Trims Stock Holdings in Albemarle Co. (NYSE:ALB)

Creative Planning trimmed its position in Albemarle Co. (NYSE:ALB) by 9.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,864 shares of the specialty chemicals company’s stock after selling 385 shares during the period. Creative Planning’s holdings in Albemarle were worth $282,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Knuff & Co LLC grew its stake in Albemarle by 102.4% in the third quarter. Knuff & Co LLC now owns 3,440 shares of the specialty chemicals company’s stock worth $239,000 after purchasing an additional 1,740 shares during the period. WealthPLAN Partners LLC grew its stake in Albemarle by 8.9% in the third quarter. WealthPLAN Partners LLC now owns 102,757 shares of the specialty chemicals company’s stock worth $6,698,000 after purchasing an additional 8,408 shares during the period. CENTRAL TRUST Co grew its stake in Albemarle by 21.8% in the third quarter. CENTRAL TRUST Co now owns 1,118 shares of the specialty chemicals company’s stock worth $77,000 after purchasing an additional 200 shares during the period. Oppenheimer & Co. Inc. grew its stake in Albemarle by 18.5% in the third quarter. Oppenheimer & Co. Inc. now owns 63,087 shares of the specialty chemicals company’s stock worth $4,386,000 after purchasing an additional 9,830 shares during the period. Finally, Parametric Portfolio Associates LLC grew its stake in Albemarle by 7.3% in the third quarter. Parametric Portfolio Associates LLC now owns 256,167 shares of the specialty chemicals company’s stock worth $17,809,000 after purchasing an additional 17,434 shares during the period. 92.38% of the stock is currently owned by institutional investors.

In other Albemarle news, CFO Scott Tozier sold 2,753 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.56, for a total value of $197,004.68. Following the transaction, the chief financial officer now owns 52,425 shares of the company’s stock, valued at $3,751,533. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.02% of the company’s stock.

Shares of NYSE:ALB opened at $87.93 on Friday. The company has a market cap of $8.83 billion, a P/E ratio of 16.34, a PEG ratio of 1.72 and a beta of 1.57. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.39 and a quick ratio of 0.82. Albemarle Co. has a 1 year low of $58.63 and a 1 year high of $93.14. The stock’s fifty day moving average price is $78.44 and its 200-day moving average price is $69.41.

Several equities research analysts recently weighed in on ALB shares. HSBC cut Albemarle from a “buy” rating to a “hold” rating and set a $89.00 price target on the stock. in a research note on Wednesday, January 22nd. Seaport Global Securities cut Albemarle from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. BMO Capital Markets cut their target price on Albemarle from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. They noted that the move was a valuation call. Berenberg Bank cut Albemarle from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, Citigroup cut Albemarle from a “neutral” rating to a “sell” rating and cut their target price for the stock from $62.00 to $58.00 in a research note on Wednesday, November 13th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the stock. Albemarle presently has a consensus rating of “Hold” and a consensus target price of $84.15.

Albemarle Company Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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