SteelPeak Wealth LLC Sells 9,502 Shares of Albemarle Co. (NYSE:ALB)

SteelPeak Wealth LLC reduced its stake in Albemarle Co. (NYSE:ALB) by 31.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,012 shares of the specialty chemicals company’s stock after selling 9,502 shares during the period. SteelPeak Wealth LLC’s holdings in Albemarle were worth $1,817,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ALB. Primecap Management Co. CA raised its position in Albemarle by 0.5% during the 3rd quarter. Primecap Management Co. CA now owns 3,833,984 shares of the specialty chemicals company’s stock valued at $363,117,000 after purchasing an additional 20,930 shares in the last quarter. Geode Capital Management LLC increased its position in Albemarle by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,741,906 shares of the specialty chemicals company’s stock valued at $258,797,000 after purchasing an additional 14,874 shares during the period. Charles Schwab Investment Management Inc. raised its holdings 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 in the last quarter. Empower Advisory Group LLC lifted its position 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 worth $66,839,000 after purchasing an additional 157,319 shares during the period. Finally, FMR LLC lifted its position in shares of Albemarle by 67.3% in the 3rd quarter. FMR LLC now owns 658,145 shares of the specialty chemicals company’s stock worth $62,333,000 after purchasing an additional 264,756 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Truist Financial started coverage on shares of Albemarle in a research note on Tuesday. They issued a “hold” rating and a $96.00 price objective for the company. Clarkson Capital began 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. Royal Bank of Canada raised their price objective on Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Robert W. Baird boosted their target price on shares of Albemarle from $79.00 to $103.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Finally, KeyCorp decreased their price target on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Albemarle currently has a consensus rating of “Hold” and an average target price of $113.95.

Insiders Place Their Bets

In related news, CEO J Kent Masters sold 2,525 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were 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 $7,457,296.64. This trade represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.38% of the stock is currently owned by insiders.

Albemarle Trading Up 0.5 %

Shares of NYSE:ALB opened at $86.35 on Thursday. The business has a 50-day moving average price of $95.69 and a 200-day moving average price of $93.44. The stock has a market cap of $10.15 billion, a price-to-earnings ratio of -5.16, a PEG ratio of 3.19 and a beta of 1.58. Albemarle Co. has a 52-week low of $71.97 and a 52-week high of $143.19. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43.

Albemarle Company 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.