SG Americas Securities LLC Has $358,000 Position in Albemarle Co. (NYSE:ALB)

SG Americas Securities LLC lowered its stake in shares of Albemarle Co. (NYSE:ALB) by 80.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,159 shares of the specialty chemicals company’s stock after selling 17,603 shares during the quarter. SG Americas Securities LLC’s holdings in Albemarle were worth $358,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ALB. Truist Financial Corp grew its position in Albemarle by 3.3% during the second quarter. Truist Financial Corp now owns 60,785 shares of the specialty chemicals company’s stock worth $5,806,000 after buying an additional 1,920 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Albemarle in the 2nd quarter valued at $1,220,000. AMF Tjanstepension AB acquired a new stake in shares of Albemarle in the 3rd quarter valued at $692,000. Czech National Bank boosted its holdings in shares of Albemarle by 6.9% in the 3rd quarter. Czech National Bank now owns 23,942 shares of the specialty chemicals company’s stock valued at $2,268,000 after purchasing an additional 1,547 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in shares of Albemarle by 12.1% in the 3rd quarter. Park Avenue Securities LLC now owns 4,601 shares of the specialty chemicals company’s stock valued at $436,000 after purchasing an additional 498 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Stock Performance

Shares of ALB opened at $80.40 on Tuesday. 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 50-day moving average of $94.15 and a 200-day moving average of $93.17. The company has a market cap of $9.45 billion, a PE ratio of -4.80, a P/E/G ratio of 3.65 and a beta of 1.58. Albemarle Co. has a one year low of $71.97 and a one year high of $143.19.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ALB shares. Wells Fargo & Company raised their target price on Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Clarkson Capital started coverage on Albemarle in a report on Tuesday, January 14th. They issued a “buy” rating and a $112.00 target price on the stock. KeyCorp reduced their target price on Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Truist Financial initiated coverage on Albemarle in a report on Tuesday, January 28th. They set a “hold” rating and a $96.00 price objective on the stock. Finally, Robert W. Baird raised their price objective on Albemarle from $79.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Albemarle has a consensus rating of “Hold” and an average price target of $113.95.

Insider Activity

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of Albemarle stock in a transaction dated Thursday, December 5th. The stock was 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 owns 73,747 shares in the company, valued at approximately $7,457,296.64. The trade was a 3.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is currently owned by company insiders.

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.