Albemarle Co. (NYSE:ALB) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in Albemarle Co. (NYSE:ALBFree Report) by 8.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 50,459 shares of the specialty chemicals company’s stock after buying an additional 4,136 shares during the period. Victory Capital Management Inc.’s holdings in Albemarle were worth $8,580,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Assetmark Inc. acquired a new position in Albemarle during the third quarter valued at approximately $25,000. Covestor Ltd raised its stake in shares of Albemarle by 51.2% during the first quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 44 shares during the period. PrairieView Partners LLC raised its stake in shares of Albemarle by 15,300.0% during the second quarter. PrairieView Partners LLC now owns 154 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 153 shares during the period. City State Bank raised its stake in shares of Albemarle by 60.0% during the third quarter. City State Bank now owns 200 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 75 shares during the period. Finally, AllSquare Wealth Management LLC raised its stake in shares of Albemarle by 87.0% during the second quarter. AllSquare Wealth Management LLC now owns 172 shares of the specialty chemicals company’s stock valued at $35,000 after purchasing an additional 80 shares during the period. 84.71% of the stock is owned by institutional investors and hedge funds.

Albemarle Price Performance

Shares of Albemarle stock opened at $113.02 on Wednesday. The company has a current ratio of 1.81, a quick ratio of 0.94 and a debt-to-equity ratio of 0.34. The company’s 50-day moving average price is $130.46 and its two-hundred day moving average price is $153.46. Albemarle Co. has a 52 week low of $108.39 and a 52 week high of $293.01. The stock has a market cap of $13.26 billion, a PE ratio of 4.01, a price-to-earnings-growth ratio of 1.53 and a beta of 1.61.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. BMO Capital Markets dropped their price objective on shares of Albemarle from $265.00 to $180.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 7th. TD Cowen lowered shares of Albemarle from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $220.00 to $130.00 in a research note on Monday, January 29th. Piper Sandler lowered shares of Albemarle from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $140.00 to $128.00 in a research note on Tuesday, December 5th. Deutsche Bank Aktiengesellschaft lowered shares of Albemarle from a “buy” rating to a “hold” rating and dropped their price target for the stock from $155.00 to $135.00 in a research note on Thursday, January 11th. Finally, Royal Bank of Canada dropped their price target on shares of Albemarle from $212.00 to $163.00 and set an “outperform” rating for the company in a research note on Monday, November 6th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $205.16.

View Our Latest Research Report on Albemarle

Albemarle Profile

(Free Report)

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties and reagents, such as butyllithium and lithium aluminum hydride for use in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.

Further Reading

Want to see what other hedge funds are holding ALB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Albemarle Co. (NYSE:ALBFree Report).

Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.