Atria Wealth Solutions Inc. boosted its stake in Albemarle Co. (NYSE:ALB – Free Report) by 14.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,030 shares of the specialty chemicals company’s stock after buying an additional 2,719 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Albemarle were worth $1,905,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Farther Finance Advisors LLC raised its position in Albemarle by 3.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,832 shares of the specialty chemicals company’s stock valued at $268,000 after buying an additional 102 shares during the last quarter. TD Private Client Wealth LLC raised its stake in shares of Albemarle by 50.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 132 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of Albemarle by 48.9% during 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 period. First Community Trust NA raised its stake 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 worth $34,000 after purchasing an additional 142 shares during the period. Finally, abrdn plc raised its stake in shares of Albemarle by 0.3% during the 3rd quarter. abrdn plc now owns 42,529 shares of the specialty chemicals company’s stock worth $4,031,000 after purchasing an additional 146 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Albemarle
In other news, CEO J Kent Masters sold 2,525 shares of the business’s 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 transaction, the chief executive officer now owns 73,747 shares of the company’s stock, valued at approximately $7,457,296.64. The trade was a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is owned by insiders.
Albemarle Stock Down 1.5 %
Albemarle (NYSE:ALB – Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The specialty chemicals company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.49). Albemarle had a negative return on equity of 1.72% and a negative net margin of 21.93%. On average, equities analysts predict that Albemarle Co. will post 0.11 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have recently commented on ALB shares. Robert W. Baird lowered their target price on Albemarle from $103.00 to $92.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Truist Financial lowered their target price on Albemarle from $96.00 to $85.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. BMO Capital Markets lowered their target price on Albemarle from $150.00 to $140.00 in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft lowered their target price on Albemarle from $109.00 to $105.00 in a research note on Wednesday, February 12th. Finally, Mizuho lowered their price objective on Albemarle from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $109.68.
Get Our Latest Stock Analysis on Albemarle
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.
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