Albemarle Co. (NYSE:ALB) Holdings Lowered by Highland Capital Management LLC

Highland Capital Management LLC cut its stake in Albemarle Co. (NYSE:ALB) by 2.2% in the 4th quarter, HoldingsChannel reports. The fund owned 17,510 shares of the specialty chemicals company’s stock after selling 400 shares during the period. Highland Capital Management LLC’s holdings in Albemarle were worth $1,507,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Quarry LP raised its stake in shares of Albemarle by 1,400.0% in the 3rd quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 252 shares in the last quarter. Trust Co. of Vermont grew its holdings in Albemarle by 606.5% during the fourth quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 279 shares during the period. Eastern Bank acquired a new stake in Albemarle in the 3rd quarter valued at about $31,000. First Community Trust NA boosted its position in shares of Albemarle by 55.0% during the 4th quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 142 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Albemarle by 48.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 136 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Trading Down 0.6 %

NYSE:ALB opened at $85.79 on Friday. The company has a market capitalization of $10.08 billion, a P/E ratio of -5.12, a P/E/G ratio of 3.19 and a beta of 1.58. The stock’s 50 day moving average price is $95.23 and its 200 day moving average price is $93.39. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44. Albemarle Co. has a 52 week low of $71.97 and a 52 week high of $143.19.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Albemarle from $79.00 to $103.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Royal Bank of Canada lifted their target price on Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Wells Fargo & Company upped 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 initiated coverage on Albemarle in a research note on Tuesday, January 14th. They issued a “buy” rating and a $112.00 price target on the stock. Finally, KeyCorp reduced their price objective on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $113.95.

Insider Transactions at Albemarle

In related news, CEO J Kent Masters sold 2,525 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $101.12, for a total value of $255,328.00. Following the completion of the sale, the chief executive officer now directly owns 73,747 shares in the company, valued at approximately $7,457,296.64. This represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.38% of the stock is currently owned by company insiders.

About Albemarle

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.