Royce & Associates LP lessened its stake in shares of Albemarle Co. (NYSE:ALB) by 9.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 279,213 shares of the specialty chemicals company’s stock after selling 28,910 shares during the quarter. Royce & Associates LP’s holdings in Albemarle were worth $35,709,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lord Abbett & CO. LLC acquired a new stake in shares of Albemarle during the 2nd quarter worth about $11,681,000. Sumitomo Life Insurance Co. acquired a new stake in shares of Albemarle during the 3rd quarter worth about $1,703,000. Hardman Johnston Global Advisors LLC lifted its stake in shares of Albemarle by 1.9% during the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 285,837 shares of the specialty chemicals company’s stock worth $38,962,000 after buying an additional 5,430 shares during the last quarter. Advisory Services Network LLC lifted its stake in shares of Albemarle by 43.7% during the 2nd quarter. Advisory Services Network LLC now owns 1,273 shares of the specialty chemicals company’s stock worth $134,000 after buying an additional 387 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in shares of Albemarle by 98.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,307,904 shares of the specialty chemicals company’s stock worth $178,281,000 after buying an additional 650,158 shares during the last quarter. Institutional investors own 87.23% of the company’s stock.
Shares of Albemarle Co. (NYSE ALB) opened at $112.24 on Monday. Albemarle Co. has a 1-year low of $91.02 and a 1-year high of $144.99. The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 0.35. The stock has a market cap of $12,402.03, a P/E ratio of 27.78, a P/E/G ratio of 1.48 and a beta of 1.56.
A number of research firms have recently issued reports on ALB. UBS Group raised their target price on shares of Albemarle from $123.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, November 9th. Seaport Global Securities restated a “hold” rating and set a $130.00 target price on shares of Albemarle in a research note on Monday, February 5th. Jefferies Group raised their target price on shares of Albemarle from $156.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Robert W. Baird reiterated a “hold” rating and issued a $135.00 price objective on shares of Albemarle in a research note on Wednesday, November 1st. Finally, Royal Bank of Canada lifted their price objective on shares of Albemarle from $149.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $128.88.
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Albemarle Company Profile
Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.
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