Soltis Investment Advisors LLC Acquires New Holdings in Albemarle Co. (NYSE:ALB)

Soltis Investment Advisors LLC acquired a new stake in Albemarle Co. (NYSE:ALB) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 20,923 shares of the specialty chemicals company’s stock, valued at approximately $1,801,000.

Several other institutional investors and hedge funds have also modified their holdings of ALB. Manning & Napier Advisors LLC acquired a new position in shares of Albemarle in the 4th quarter valued at approximately $85,570,000. Pathway Financial Advisers LLC grew its position in shares of Albemarle by 9,108.7% in the 3rd quarter. Pathway Financial Advisers LLC now owns 574,805 shares of the specialty chemicals company’s stock valued at $54,440,000 after purchasing an additional 568,563 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Albemarle by 38.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,020,590 shares of the specialty chemicals company’s stock valued at $96,660,000 after purchasing an additional 282,194 shares during the period. FMR LLC lifted its stake in Albemarle by 67.3% in the 3rd quarter. FMR LLC now owns 658,145 shares of the specialty chemicals company’s stock valued at $62,333,000 after acquiring an additional 264,756 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Albemarle by 7,667.4% in the 3rd quarter. International Assets Investment Management LLC now owns 163,659 shares of the specialty chemicals company’s stock valued at $155,000,000 after acquiring an additional 161,552 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Stock Performance

ALB opened at $75.07 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44. Albemarle Co. has a 52-week low of $71.97 and a 52-week high of $143.19. The firm has a market cap of $8.82 billion, a P/E ratio of -4.48, a price-to-earnings-growth ratio of 3.43 and a beta of 1.59. The business’s fifty day moving average is $91.19 and its 200-day moving average is $92.71.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. 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 research note on Tuesday, November 12th. Clarkson Capital assumed coverage on Albemarle in a research note on Tuesday, January 14th. They issued a “buy” rating and a $112.00 target price on the stock. KeyCorp cut their target price on Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Truist Financial started coverage on Albemarle in a research note on Tuesday, January 28th. They set a “hold” rating and a $96.00 price objective on the stock. Finally, Evercore ISI cut Albemarle from an “outperform” rating to an “inline” rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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 on 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 directly owns 73,747 shares in the company, valued at $7,457,296.64. This represents a 3.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by corporate insiders.

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.