Moors & Cabot Inc. Raises Position in Albemarle Co. (NYSE:ALB)

Moors & Cabot Inc. boosted its holdings in shares of Albemarle Co. (NYSE:ALBFree Report) by 18.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,267 shares of the specialty chemicals company’s stock after buying an additional 194 shares during the period. Moors & Cabot Inc.’s holdings in Albemarle were worth $215,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC raised its position in Albemarle by 124,405.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 104,510,053 shares of the specialty chemicals company’s stock valued at $22,664,050,000 after purchasing an additional 104,426,113 shares in the last quarter. Vanguard Group Inc. raised its position in Albemarle by 0.6% during the first quarter. Vanguard Group Inc. now owns 13,661,001 shares of the specialty chemicals company’s stock valued at $3,021,130,000 after purchasing an additional 75,867 shares in the last quarter. BlackRock Inc. raised its position in Albemarle by 6.0% during the second quarter. BlackRock Inc. now owns 10,157,015 shares of the specialty chemicals company’s stock valued at $2,265,928,000 after purchasing an additional 575,007 shares in the last quarter. State Street Corp raised its position in Albemarle by 0.3% during the first quarter. State Street Corp now owns 5,364,655 shares of the specialty chemicals company’s stock valued at $1,188,408,000 after purchasing an additional 16,968 shares in the last quarter. Finally, Capital Research Global Investors raised its position in Albemarle by 33.8% during the second quarter. Capital Research Global Investors now owns 3,381,656 shares of the specialty chemicals company’s stock valued at $754,405,000 after purchasing an additional 853,971 shares in the last quarter. Institutional investors own 84.71% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ALB. Mizuho decreased their price objective on Albemarle from $152.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, January 23rd. Piper Sandler downgraded Albemarle from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $140.00 to $128.00 in a report on Tuesday, December 5th. Royal Bank of Canada decreased their price objective on Albemarle from $212.00 to $163.00 and set an “outperform” rating on the stock in a report on Monday, November 6th. Deutsche Bank Aktiengesellschaft downgraded Albemarle from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $155.00 to $135.00 in a report on Thursday, January 11th. Finally, Oppenheimer cut their target price on Albemarle from $308.00 to $191.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 17th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Albemarle currently has a consensus rating of “Hold” and an average price target of $205.16.

Check Out Our Latest Stock Analysis on Albemarle

Albemarle Price Performance

Shares of NYSE ALB opened at $113.02 on Wednesday. Albemarle Co. has a twelve month low of $108.39 and a twelve month high of $293.01. The firm has a market cap of $13.26 billion, a P/E ratio of 4.01, a PEG ratio of 1.53 and a beta of 1.61. The company has a 50 day moving average of $130.46 and a 200 day moving average of $153.46. The company has a quick ratio of 0.94, a current ratio of 1.81 and a debt-to-equity ratio of 0.34.

Albemarle Company 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.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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