Sumitomo Mitsui Trust Group Inc. Sells 7,927 Shares of Albemarle Co. (NYSE:ALB)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Albemarle Co. (NYSE:ALB) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 311,128 shares of the specialty chemicals company’s stock after selling 7,927 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Albemarle were worth $26,782,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in Albemarle by 38.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,020,590 shares of the specialty chemicals company’s stock valued at $96,660,000 after buying an additional 282,194 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Albemarle by 71.5% in the fourth quarter. Pacer Advisors Inc. now owns 14,948 shares of the specialty chemicals company’s stock worth $1,287,000 after acquiring an additional 6,234 shares during the period. Empower Advisory Group LLC grew its position in shares of Albemarle by 28.7% in the third quarter. Empower Advisory Group LLC now owns 705,719 shares of the specialty chemicals company’s stock valued at $66,839,000 after purchasing an additional 157,319 shares in the last quarter. Vest Financial LLC lifted its holdings in Albemarle by 32.4% during the 3rd quarter. Vest Financial LLC now owns 521,537 shares of the specialty chemicals company’s stock worth $49,395,000 after purchasing an additional 127,549 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Albemarle by 28.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 423,049 shares of the specialty chemicals company’s stock worth $40,067,000 after purchasing an additional 93,718 shares during the period. Institutional investors own 92.87% of the company’s stock.

Albemarle Stock Performance

Albemarle stock opened at $75.76 on Wednesday. The firm has a fifty day simple moving average of $90.52 and a two-hundred day simple moving average of $92.59. Albemarle Co. has a twelve month low of $71.97 and a twelve month high of $143.19. The company has a market capitalization of $8.90 billion, a PE ratio of -4.52, a P/E/G ratio of 3.43 and a beta of 1.59. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43.

Insider Activity

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the business’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 value of $255,328.00. Following the completion of the sale, the chief executive officer now owns 73,747 shares in the company, valued at approximately $7,457,296.64. The trade was a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALB. Royal Bank of Canada upped their price target on Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Evercore ISI lowered shares of Albemarle from an “outperform” rating to an “inline” rating in a report on Wednesday, February 5th. Robert W. Baird raised their price target on shares of Albemarle from $79.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. Truist Financial initiated coverage on shares of Albemarle in a report on Tuesday, January 28th. They issued a “hold” rating and a $96.00 price target on the stock. Finally, Clarkson Capital initiated coverage on Albemarle in a research note on Tuesday, January 14th. They set a “buy” rating and a $112.00 price objective for the company. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $113.95.

Albemarle Company 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.