OLD National Bancorp IN Lowers Stock Holdings in Albemarle Co. (NYSE:ALB)

OLD National Bancorp IN cut its stake in Albemarle Co. (NYSE:ALB) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 111,506 shares of the specialty chemicals company’s stock after selling 1,840 shares during the period. OLD National Bancorp IN owned about 0.09% of Albemarle worth $9,598,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALB. Public Sector Pension Investment Board boosted its holdings in Albemarle by 70.1% in the second quarter. Public Sector Pension Investment Board now owns 4,499 shares of the specialty chemicals company’s stock valued at $430,000 after purchasing an additional 1,854 shares during the period. MBB Public Markets I LLC boosted its holdings in Albemarle by 392.6% in the second quarter. MBB Public Markets I LLC now owns 7,916 shares of the specialty chemicals company’s stock valued at $756,000 after purchasing an additional 6,309 shares during the period. Creative Planning boosted its holdings in Albemarle by 165.6% in the second quarter. Creative Planning now owns 39,623 shares of the specialty chemicals company’s stock valued at $3,785,000 after purchasing an additional 24,704 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Albemarle by 90.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 48,324 shares of the specialty chemicals company’s stock valued at $4,616,000 after purchasing an additional 22,924 shares during the period. Finally, Regal Investment Advisors LLC boosted its holdings in Albemarle by 57.4% in the second quarter. Regal Investment Advisors LLC now owns 3,064 shares of the specialty chemicals company’s stock valued at $293,000 after purchasing an additional 1,117 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Stock Performance

Shares of ALB opened at $86.35 on Thursday. The business’s 50 day moving average is $95.69 and its two-hundred day moving average is $93.44. Albemarle Co. has a 52-week low of $71.97 and a 52-week high of $143.19. The firm has a market cap of $10.15 billion, a price-to-earnings ratio of -5.16, a PEG ratio of 3.19 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.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ALB shares. Royal Bank of Canada raised their price target on Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. KeyCorp cut their price target on Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Robert W. Baird raised their price target on Albemarle from $79.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Truist Financial began coverage on Albemarle in a research note on Tuesday. They issued a “hold” rating and a $96.00 price target on the stock. Finally, Oppenheimer cut their target price on Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $113.95.

Insider Buying and Selling at Albemarle

In related news, CEO J Kent Masters sold 2,525 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 73,747 shares of the company’s stock, valued at approximately $7,457,296.64. This represents a 3.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.38% of the stock is currently owned by corporate 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.