GHP Investment Advisors Inc. Trims Stock Holdings in Albemarle Co. (NYSE:ALB)

GHP Investment Advisors Inc. cut its holdings in shares of Albemarle Co. (NYSE:ALB) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,433 shares of the specialty chemicals company’s stock after selling 201 shares during the period. GHP Investment Advisors Inc.’s holdings in Albemarle were worth $726,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its stake in Albemarle by 20.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,633 shares of the specialty chemicals company’s stock valued at $2,528,000 after purchasing an additional 4,820 shares during the period. Hager Investment Management Services LLC purchased a new position in shares of Albemarle during the fourth quarter worth about $394,000. Stratos Wealth Partners LTD. increased its position in Albemarle by 260.8% in the 4th quarter. Stratos Wealth Partners LTD. now owns 14,302 shares of the specialty chemicals company’s stock valued at $1,231,000 after acquiring an additional 10,338 shares during the period. Old North State Wealth Management LLC raised its stake in Albemarle by 5.3% during the 4th quarter. Old North State Wealth Management LLC now owns 21,113 shares of the specialty chemicals company’s stock valued at $1,821,000 after acquiring an additional 1,065 shares during the last quarter. Finally, Mather Group LLC. lifted its position in Albemarle by 7.9% during the 4th quarter. Mather Group LLC. now owns 5,022 shares of the specialty chemicals company’s stock worth $432,000 after acquiring an additional 369 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Albemarle Stock Performance

NYSE:ALB opened at $77.30 on Friday. Albemarle Co. has a twelve month low of $71.97 and a twelve month high of $143.19. The company has a market capitalization of $9.09 billion, a P/E ratio of -4.61, a price-to-earnings-growth ratio of 3.65 and a beta of 1.59. The company has a current ratio of 2.44, a quick ratio of 1.58 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average price of $91.91 and a two-hundred day moving average price of $92.80.

Analyst Upgrades and Downgrades

ALB has been the topic of a number of recent research reports. Royal Bank of Canada boosted their target price on Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Oppenheimer dropped their price objective on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. 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 research note on Wednesday, December 18th. Evercore ISI lowered shares of Albemarle from an “outperform” rating to an “inline” rating in a research note on Wednesday. Finally, Truist Financial began coverage on shares of Albemarle in a research report on Tuesday, January 28th. They issued a “hold” rating and a $96.00 price objective for the company. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus 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 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 sale, the chief executive officer now owns 73,747 shares in the company, valued at approximately $7,457,296.64. This trade represents a 3.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Albemarle Company 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.