Swiss National Bank Sells 46,200 Shares of Albemarle Co. (NYSE:ALB)

Swiss National Bank lowered its holdings in Albemarle Co. (NYSE:ALBFree Report) by 10.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 377,406 shares of the specialty chemicals company’s stock after selling 46,200 shares during the quarter. Swiss National Bank owned about 0.32% of Albemarle worth $64,174,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ALB. Moneta Group Investment Advisors LLC raised its stake in shares of Albemarle by 124,405.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 104,510,053 shares of the specialty chemicals company’s stock worth $22,664,050,000 after purchasing an additional 104,426,113 shares during the period. Capital Research Global Investors raised its stake in shares of Albemarle by 33.8% during the 2nd quarter. Capital Research Global Investors now owns 3,381,656 shares of the specialty chemicals company’s stock worth $754,405,000 after purchasing an additional 853,971 shares during the period. Barclays PLC raised its stake in shares of Albemarle by 142.3% during the 3rd quarter. Barclays PLC now owns 1,043,861 shares of the specialty chemicals company’s stock worth $177,499,000 after purchasing an additional 612,963 shares during the period. BlackRock Inc. raised its stake in Albemarle by 6.0% in the 2nd quarter. BlackRock Inc. now owns 10,157,015 shares of the specialty chemicals company’s stock valued at $2,265,928,000 after acquiring an additional 575,007 shares during the period. Finally, Morgan Stanley raised its stake in Albemarle by 45.6% in the 4th quarter. Morgan Stanley now owns 1,378,866 shares of the specialty chemicals company’s stock valued at $299,021,000 after acquiring an additional 432,155 shares during the period. Institutional investors and hedge funds own 84.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ALB. Deutsche Bank Aktiengesellschaft cut Albemarle from a “buy” rating to a “hold” rating and decreased their price target for the company from $155.00 to $135.00 in a research report on Thursday, January 11th. UBS Group decreased their target price on Albemarle from $142.00 to $137.00 and set a “neutral” rating for the company in a report on Tuesday, January 30th. Oppenheimer decreased their target price on Albemarle from $308.00 to $191.00 and set an “outperform” rating for the company in a report on Wednesday, January 17th. Royal Bank of Canada decreased their price objective on Albemarle from $212.00 to $163.00 and set an “outperform” rating for the company in a report on Monday, November 6th. Finally, Bank of America upgraded Albemarle from an “underperform” rating to a “neutral” rating and decreased their price objective for the stock from $154.00 to $149.00 in a report on Tuesday, December 12th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Albemarle presently has an average rating of “Hold” and an average price target of $205.16.

Read Our Latest Analysis on Albemarle

Albemarle Stock Performance

NYSE:ALB opened at $113.02 on Wednesday. The company has a market cap of $13.26 billion, a price-to-earnings ratio of 4.01, a PEG ratio of 1.53 and a beta of 1.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.81 and a quick ratio of 0.94. The stock’s 50 day simple moving average is $130.46 and its two-hundred day simple moving average is $153.46. Albemarle Co. has a 1 year low of $108.39 and a 1 year high of $293.01.

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.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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