4,002 Shares in Albemarle Corporation $ALB Bought by Aegis Wealth Management LLC

Aegis Wealth Management LLC acquired a new stake in Albemarle Corporation (NYSE:ALB) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 4,002 shares of the specialty chemicals company’s stock, valued at approximately $324,000.

Several other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in Albemarle by 2.0% during the second quarter. Geode Capital Management LLC now owns 2,954,331 shares of the specialty chemicals company’s stock valued at $184,782,000 after purchasing an additional 59,104 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Albemarle by 48.5% during the second quarter. ProShare Advisors LLC now owns 2,870,110 shares of the specialty chemicals company’s stock worth $179,870,000 after purchasing an additional 937,538 shares during the period. Manning & Napier Advisors LLC acquired a new stake in Albemarle during the 3rd quarter valued at approximately $138,723,000. PGGM Investments lifted its position in Albemarle by 10.8% during the third quarter. PGGM Investments now owns 1,185,005 shares of the specialty chemicals company’s stock valued at $96,080,000 after purchasing an additional 115,081 shares during the period. Finally, Vest Financial LLC grew its stake in Albemarle by 55.4% in the 2nd quarter. Vest Financial LLC now owns 959,978 shares of the specialty chemicals company’s stock valued at $60,162,000 after acquiring an additional 342,321 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Albemarle Trading Up 4.5%

Shares of ALB stock opened at $163.47 on Monday. The business’s 50 day moving average is $154.02 and its two-hundred day moving average is $112.49. The company has a quick ratio of 1.51, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The company has a market cap of $19.24 billion, a PE ratio of -102.81, a price-to-earnings-growth ratio of 2.92 and a beta of 1.44. Albemarle Corporation has a 12 month low of $49.43 and a 12 month high of $195.68.

Wall Street Analyst Weigh In

A number of brokerages have commented on ALB. JPMorgan Chase & Co. lifted their target price on shares of Albemarle from $80.00 to $195.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Argus upped their price target on Albemarle from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Evercore boosted their price target on Albemarle from $88.00 to $100.00 and gave the stock an “in-line” rating in a research note on Tuesday, November 11th. Morgan Stanley reiterated an “equal weight” rating on shares of Albemarle in a report on Friday, December 19th. Finally, Stephens reiterated an “outperform” rating on shares of Albemarle in a research note on Friday, December 19th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.16.

Albemarle Profile

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.