Newbridge Financial Services Group Inc. Invests $70,000 in Albemarle Co. (NYSE:ALB)

Newbridge Financial Services Group Inc. acquired a new stake in Albemarle Co. (NYSE:ALB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 817 shares of the specialty chemicals company’s stock, valued at approximately $70,000.

A number of other institutional investors also recently bought and sold shares of ALB. Manning & Napier Advisors LLC purchased a new position in Albemarle in the fourth quarter worth approximately $85,570,000. Pathway Financial Advisers LLC grew its holdings in shares of Albemarle by 9,108.7% during the 3rd quarter. Pathway Financial Advisers LLC now owns 574,805 shares of the specialty chemicals company’s stock worth $54,440,000 after purchasing an additional 568,563 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Albemarle by 38.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,020,590 shares of the specialty chemicals company’s stock worth $96,660,000 after purchasing an additional 282,194 shares during the last quarter. FMR LLC raised its holdings in Albemarle by 67.3% in the 3rd quarter. FMR LLC now owns 658,145 shares of the specialty chemicals company’s stock valued at $62,333,000 after buying an additional 264,756 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in Albemarle by 7,667.4% in the 3rd quarter. International Assets Investment Management LLC now owns 163,659 shares of the specialty chemicals company’s stock valued at $155,000,000 after buying an additional 161,552 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Clarkson Capital assumed coverage on shares of Albemarle in a research report on Tuesday, January 14th. They set a “buy” rating and a $112.00 price target for the company. Truist Financial assumed coverage on shares of Albemarle in a report on Tuesday, January 28th. They issued a “hold” rating and a $96.00 target price for the company. Robert W. Baird upped their price target on Albemarle from $79.00 to $103.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. KeyCorp dropped their price objective on Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Finally, Oppenheimer decreased their target price on Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $113.95.

Insider Transactions at Albemarle

In other news, CEO J Kent Masters sold 2,525 shares of the firm’s 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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.

Albemarle Stock Performance

Shares of ALB stock opened at $75.07 on Tuesday. Albemarle Co. has a 12 month low of $71.97 and a 12 month high of $143.19. The company has a current ratio of 2.44, a quick ratio of 1.58 and a debt-to-equity ratio of 0.43. The company has a market cap of $8.82 billion, a P/E ratio of -4.48, a PEG ratio of 3.43 and a beta of 1.59. The firm has a fifty day moving average price of $91.19 and a 200 day moving average price of $92.71.

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.