Eastern Bank purchased a new stake in shares of Albemarle Co. (NYSE:ALB – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 330 shares of the specialty chemicals company’s stock, valued at approximately $31,000.
Other large investors have also added to or reduced their stakes in the company. Jane Street Group LLC lifted its holdings in shares of Albemarle by 176.6% in the first quarter. Jane Street Group LLC now owns 1,588,986 shares of the specialty chemicals company’s stock worth $209,333,000 after buying an additional 3,662,117 shares in the last quarter. Capital World Investors purchased a new position in shares of Albemarle in the first quarter worth $49,007,000. PGGM Investments lifted its holdings in shares of Albemarle by 261.6% in the first quarter. PGGM Investments now owns 413,492 shares of the specialty chemicals company’s stock worth $54,473,000 after buying an additional 299,148 shares in the last quarter. HB Wealth Management LLC lifted its holdings in shares of Albemarle by 115.7% in the second quarter. HB Wealth Management LLC now owns 542,200 shares of the specialty chemicals company’s stock worth $51,791,000 after buying an additional 290,862 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Albemarle by 22.9% in the first quarter. ProShare Advisors LLC now owns 1,423,897 shares of the specialty chemicals company’s stock worth $187,584,000 after buying an additional 265,313 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.
Albemarle Trading Down 1.7 %
NYSE ALB opened at $93.51 on Friday. The company’s 50-day moving average price is $91.35 and its 200-day moving average price is $101.77. The company has a current ratio of 2.67, a quick ratio of 1.75 and a debt-to-equity ratio of 0.38. The stock has a market cap of $10.99 billion, a PE ratio of 34.00, a PEG ratio of 13.81 and a beta of 1.54. Albemarle Co. has a 12 month low of $71.97 and a 12 month high of $153.54.
Analyst Upgrades and Downgrades
Several research firms have recently commented on ALB. Mizuho lowered their target price on shares of Albemarle from $128.00 to $103.00 in a report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price target on shares of Albemarle from $115.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. Scotiabank decreased their price target on shares of Albemarle from $135.00 to $85.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 6th. Evercore ISI decreased their price target on shares of Albemarle from $190.00 to $170.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 28th. Finally, Wells Fargo & Company upped their price target on shares of Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $117.30.
Get Our Latest Stock Analysis on ALB
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.
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