Albemarle Co. (NYSE:ALB) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its stake in shares of Albemarle Co. (NYSE:ALB) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,449 shares of the specialty chemicals company’s stock after selling 649 shares during the quarter. Retirement Systems of Alabama’s holdings in Albemarle were worth $2,191,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ALB. Manning & Napier Advisors LLC acquired a new position in shares of Albemarle during the 4th quarter valued at about $85,570,000. Pathway Financial Advisers LLC increased its position in 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 in the last quarter. Charles Schwab Investment Management Inc. increased its position in 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 in the last quarter. FMR LLC increased its position in Albemarle by 67.3% during the 3rd quarter. FMR LLC now owns 658,145 shares of the specialty chemicals company’s stock worth $62,333,000 after purchasing an additional 264,756 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in Albemarle by 7,667.4% during the 3rd quarter. International Assets Investment Management LLC now owns 163,659 shares of the specialty chemicals company’s stock worth $155,000,000 after purchasing an additional 161,552 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Activity

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $101.12, for a total value of $255,328.00. Following the transaction, the chief executive officer now owns 73,747 shares of the company’s stock, valued at approximately $7,457,296.64. This represents a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is currently owned by insiders.

Albemarle Trading Up 0.8 %

Shares of ALB opened at $75.76 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. Albemarle Co. has a 12-month low of $71.97 and a 12-month high of $143.19. The firm has a market capitalization of $8.90 billion, a PE ratio of -4.52, a price-to-earnings-growth ratio of 3.43 and a beta of 1.59. The stock’s fifty day simple moving average is $90.52 and its 200-day simple moving average is $92.59.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ALB shares. Robert W. Baird increased their target price on shares of Albemarle from $79.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. Clarkson Capital started coverage on shares of Albemarle in a research report on Tuesday, January 14th. They set a “buy” rating and a $112.00 target price for the company. KeyCorp dropped their target price on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Mizuho decreased their price target on Albemarle from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Royal Bank of Canada upped their price target on Albemarle from $108.00 to $133.00 and gave the stock 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 six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $113.95.

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.