Pathway Financial Advisers LLC Has $461,000 Holdings in Albemarle Co. (NYSE:ALB)

Pathway Financial Advisers LLC cut its position in shares of Albemarle Co. (NYSE:ALB) by 11.8% in the fourth quarter, Holdings Channel reports. The firm owned 5,352 shares of the specialty chemicals company’s stock after selling 717 shares during the period. Pathway Financial Advisers LLC’s holdings in Albemarle were worth $461,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Albemarle by 38.2% in the third 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 acquiring an additional 282,194 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Albemarle by 71.5% during the 4th quarter. Pacer Advisors Inc. now owns 14,948 shares of the specialty chemicals company’s stock valued at $1,287,000 after purchasing an additional 6,234 shares in the last quarter. Empower Advisory Group LLC lifted its stake in shares of Albemarle by 28.7% in the 3rd quarter. Empower Advisory Group LLC now owns 705,719 shares of the specialty chemicals company’s stock valued at $66,839,000 after purchasing an additional 157,319 shares during the last quarter. Bristlecone Advisors LLC boosted its holdings in Albemarle by 20.5% in the fourth quarter. Bristlecone Advisors LLC now owns 28,824 shares of the specialty chemicals company’s stock worth $2,481,000 after purchasing an additional 4,899 shares in the last quarter. Finally, Vest Financial LLC increased its position in Albemarle by 32.4% during the third quarter. Vest Financial LLC now owns 521,537 shares of the specialty chemicals company’s stock worth $49,395,000 after buying an additional 127,549 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of Albemarle 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 transaction, the chief executive officer now directly owns 73,747 shares of the company’s stock, valued at approximately $7,457,296.64. This trade represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

ALB has been the subject of a number of analyst reports. Clarkson Capital started coverage on Albemarle in a research report on Tuesday, January 14th. They issued a “buy” rating and a $112.00 price target for the company. Mizuho reduced their target price on Albemarle from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. BMO Capital Markets dropped their price target on shares of Albemarle from $150.00 to $140.00 in a research report on Wednesday. KeyCorp decreased their price objective on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Finally, Truist Financial started coverage on shares of Albemarle in a report on Tuesday, January 28th. They issued a “hold” rating and a $96.00 target price on the stock. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $114.24.

Albemarle Stock Up 1.1 %

Shares of ALB stock opened at $76.57 on Thursday. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average price of $90.00 and a 200 day moving average price of $92.48. Albemarle Co. has a one year low of $71.97 and a one year high of $143.19.

Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.49). Albemarle had a negative net margin of 28.80% and a positive return on equity of 1.67%. Research analysts anticipate that Albemarle Co. will post -1.55 EPS for the current fiscal year.

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.