Great Lakes Advisors LLC Grows Stock Position in Albemarle Co. (NYSE:ALB)
Great Lakes Advisors LLC lifted its holdings in shares of Albemarle Co. (NYSE:ALB) by 84.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 120,575 shares of the specialty chemicals company’s stock after acquiring an additional 55,338 shares during the period. Great Lakes Advisors LLC owned approximately 0.11% of Albemarle worth $17,787,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of Albemarle by 199.5% in the 4th quarter. Victory Capital Management Inc. now owns 88,712 shares of the specialty chemicals company’s stock valued at $13,087,000 after purchasing an additional 59,096 shares during the last quarter. Cornerstone Wealth Group LLC purchased a new position in shares of Albemarle in the fourth quarter worth $1,845,000. California State Teachers Retirement System lifted its stake in shares of Albemarle by 1.7% during the third quarter. California State Teachers Retirement System now owns 196,762 shares of the specialty chemicals company’s stock worth $17,567,000 after buying an additional 3,222 shares during the period. Kinloch Capital LLC purchased a new stake in shares of Albemarle during the fourth quarter valued at $48,000. Finally, AMG National Trust Bank purchased a new stake in shares of Albemarle during the fourth quarter valued at $271,000. Institutional investors and hedge funds own 86.38% of the company’s stock.
NYSE:ALB opened at $156.49 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.38. The company has a fifty day moving average of $168.67 and a two-hundred day moving average of $124.16. The stock has a market capitalization of $18.25 billion, a PE ratio of 43.71, a P/E/G ratio of 3.79 and a beta of 1.59. Albemarle Co. has a fifty-two week low of $48.89 and a fifty-two week high of $188.35.
A number of analysts have commented on ALB shares. Morgan Stanley lifted their price target on Albemarle from $40.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, November 6th. Royal Bank of Canada upped their target price on Albemarle from $130.00 to $135.00 and gave the company an “underperform” rating in a research report on Tuesday. Smith Barney Citigroup lowered shares of Albemarle from a “buy” rating to a “neutral” rating and raised their price target for the stock from $132.00 to $175.00 in a research report on Wednesday, January 6th. Citigroup raised shares of Albemarle from a “neutral” rating to a “buy” rating and set a $184.00 price objective on the stock in a report on Friday, February 12th. Finally, BMO Capital Markets increased their price objective on shares of Albemarle from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, November 6th. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. Albemarle has a consensus rating of “Hold” and a consensus target price of $115.26.
Albemarle Company Profile
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. The company operates in three segments: Lithium, Bromine Specialties, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications 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, life science, pharmaceutical, and other markets.
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