Ameliora Wealth Management Ltd. Buys Shares of 410 Albemarle Co. (NYSE:ALB)

Ameliora Wealth Management Ltd. bought a new stake in Albemarle Co. (NYSE:ALB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 410 shares of the specialty chemicals company’s stock, valued at approximately $35,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Farther Finance Advisors LLC increased its position in Albemarle by 3.7% in the third quarter. Farther Finance Advisors LLC now owns 2,832 shares of the specialty chemicals company’s stock worth $268,000 after buying an additional 102 shares in the last quarter. TD Private Client Wealth LLC grew its position 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 worth $37,000 after purchasing an additional 132 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Albemarle by 48.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 136 shares in the last quarter. First Community Trust NA grew its position in shares of Albemarle by 55.0% during the fourth quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 142 shares in the last quarter. Finally, abrdn plc grew its position in shares of Albemarle by 0.3% during the third quarter. abrdn plc now owns 42,529 shares of the specialty chemicals company’s stock worth $4,031,000 after purchasing an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Albemarle Stock Down 1.1 %

Shares of Albemarle stock opened at $78.99 on Friday. The firm’s 50 day moving average price is $92.52 and its 200-day moving average price is $92.92. 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 Co. has a 52-week low of $71.97 and a 52-week high of $143.19. The company has a market cap of $9.28 billion, a P/E ratio of -4.72, a PEG ratio of 3.65 and a beta of 1.59.

Insider Buying and Selling at Albemarle

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of Albemarle stock in a transaction that occurred on Thursday, December 5th. The shares were 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 directly owns 73,747 shares in the company, valued at approximately $7,457,296.64. The trade was a 3.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

ALB has been the subject of several research analyst reports. Robert W. Baird increased their target price on Albemarle from $79.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. Truist Financial assumed coverage on Albemarle in a report on Tuesday, January 28th. They set a “hold” rating and a $96.00 price target for the company. Mizuho cut their price target on Albemarle from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. 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 report on Tuesday, November 12th. Finally, KeyCorp cut their price target on Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $113.95.

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.