Highland Capital Management LLC Decreases Stake in Albemarle Co. (NYSE:ALB)

Highland Capital Management LLC decreased its holdings in Albemarle Co. (NYSE:ALB) by 2.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 17,510 shares of the specialty chemicals company’s stock after selling 400 shares during the period. Highland Capital Management LLC’s holdings in Albemarle were worth $1,507,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Manning & Napier Advisors LLC acquired a new position in shares of Albemarle during the 4th quarter valued at $85,570,000. Swedbank AB lifted its stake in shares of Albemarle by 8.9% during the fourth quarter. Swedbank AB now owns 57,392 shares of the specialty chemicals company’s stock worth $4,940,000 after purchasing an additional 4,712 shares in the last quarter. Pacer Advisors Inc. boosted its position 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 buying an additional 6,234 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Albemarle in the fourth quarter valued at about $43,000. Finally, Regatta Capital Group LLC raised its holdings in shares of Albemarle by 3.1% during the 4th quarter. Regatta Capital Group LLC now owns 7,572 shares of the specialty chemicals company’s stock valued at $652,000 after buying an additional 225 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Price Performance

Shares of ALB opened at $85.79 on Friday. Albemarle Co. has a 12 month low of $71.97 and a 12 month high of $143.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58. The stock has a fifty day moving average price of $95.23 and a 200 day moving average price of $93.39. The company has a market cap of $10.08 billion, a P/E ratio of -5.12, a PEG ratio of 3.19 and a beta of 1.58.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ALB shares. Oppenheimer lowered their price objective on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Robert W. Baird lifted their price target on shares of Albemarle from $79.00 to $103.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Clarkson Capital began coverage on shares of Albemarle in a research report on Tuesday, January 14th. They issued a “buy” rating and a $112.00 price objective for the company. Wells Fargo & Company lifted their target price on Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada increased 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. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Albemarle has an average rating of “Hold” and an average target price of $113.95.

Insider Activity

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 73,747 shares of the company’s stock, valued at $7,457,296.64. The trade was a 3.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.38% of the company’s stock.

About Albemarle

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.