Albemarle Co. (NYSE:ALB) Shares Acquired by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. increased its stake in Albemarle Co. (NYSE:ALB) by 16.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,600 shares of the specialty chemicals company’s stock after acquiring an additional 778 shares during the period. Global X Japan Co. Ltd.’s holdings in Albemarle were worth $482,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ALB. Quarry LP lifted its holdings in Albemarle by 1,400.0% in the 3rd quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock valued at $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 4th 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 during the last quarter. Eastern Bank bought a new stake in shares of Albemarle during the 3rd quarter worth $31,000. Cromwell Holdings LLC grew its holdings in shares of Albemarle by 61.9% in the 3rd quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 148 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its holdings in shares of Albemarle by 50.4% during the third quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 132 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO J Kent Masters sold 2,525 shares of Albemarle stock in a transaction dated 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 transaction, the chief executive officer now owns 73,747 shares in the company, 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 document filed with the SEC, which is accessible through this hyperlink. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on ALB. Clarkson Capital initiated coverage on Albemarle in a report on Tuesday, January 14th. They set a “buy” rating and a $112.00 price objective on the stock. Mizuho reduced their price target on shares of Albemarle from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Oppenheimer lowered their price objective 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. KeyCorp decreased their target price on Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Finally, Truist Financial initiated coverage on Albemarle in a research report on Tuesday, January 28th. They set a “hold” rating and a $96.00 price target on the stock. One investment 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 MarketBeat.com, Albemarle currently has an average rating of “Hold” and an average price target of $113.95.

Albemarle Trading Down 1.1 %

NYSE ALB opened at $78.99 on Friday. The stock’s 50 day moving average price is $92.52 and its two-hundred day moving average price is $92.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44. Albemarle Co. has a 52 week low of $71.97 and a 52 week high of $143.19.

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.