Beaumont Asset Management L.L.C. Sells 150 Shares of Albemarle Co. (NYSE:ALB)

Beaumont Asset Management L.L.C. lowered its stake in shares of Albemarle Co. (NYSE:ALB) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,125 shares of the specialty chemicals company’s stock after selling 150 shares during the quarter. Beaumont Asset Management L.L.C.’s holdings in Albemarle were worth $269,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Quarry LP raised its holdings in shares of Albemarle by 1,400.0% in the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 252 shares during the last quarter. Trust Co. of Vermont increased its stake in Albemarle by 606.5% in the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 279 shares during the last quarter. Eastern Bank bought a new position in shares of Albemarle during the 3rd quarter worth approximately $31,000. First Community Trust NA boosted its stake in shares of Albemarle by 55.0% in the 4th quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 142 shares during the last quarter. Finally, Ameliora Wealth Management Ltd. bought a new position in shares of Albemarle in the fourth quarter valued at approximately $35,000. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ALB has been the topic of a number of recent analyst reports. Truist Financial initiated coverage on Albemarle in a report on Tuesday, January 28th. They set a “hold” rating and a $96.00 price target on the stock. 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 research note on Tuesday, November 12th. Oppenheimer reduced their price target on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Robert W. Baird lifted their price objective on shares of Albemarle from $79.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. Finally, Evercore ISI cut shares of Albemarle from an “outperform” rating to an “inline” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Albemarle has a consensus rating of “Hold” and an average price target of $113.95.

Insider Buying and Selling

In related news, CEO J Kent Masters sold 2,525 shares of the company’s stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is currently owned by company insiders.

Albemarle Stock Performance

NYSE ALB opened at $77.30 on Friday. The company’s 50 day simple moving average is $91.91 and its two-hundred day simple moving average is $92.80. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58. Albemarle Co. has a 1 year low of $71.97 and a 1 year high of $143.19. The stock has a market capitalization of $9.09 billion, a PE ratio of -4.61, a P/E/G ratio of 3.65 and a beta of 1.59.

Albemarle 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.