Sumitomo Mitsui DS Asset Management Company Ltd Acquires 3,947 Shares of Albemarle Co. (NYSE:ALB)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Albemarle Co. (NYSE:ALB) by 37.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,629 shares of the specialty chemicals company’s stock after acquiring an additional 3,947 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Albemarle were worth $1,259,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ALB. Quarry LP lifted its holdings in shares of Albemarle by 1,400.0% during 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 position in Albemarle by 606.5% during 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 in the last quarter. Eastern Bank purchased a new position in Albemarle during the third quarter valued at $31,000. Cromwell Holdings LLC boosted its holdings in Albemarle by 61.9% in the third quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 148 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its stake in shares of Albemarle by 50.4% in the third quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 132 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Albemarle Price Performance

NYSE ALB opened at $75.76 on Wednesday. The business’s fifty day moving average is $90.52 and its 200 day moving average is $92.59. Albemarle Co. has a fifty-two week low of $71.97 and a fifty-two week high of $143.19. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44. The company has a market capitalization of $8.90 billion, a PE ratio of -4.52, a price-to-earnings-growth ratio of 3.43 and a beta of 1.59.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ALB shares. Clarkson Capital assumed 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. Truist Financial started coverage on shares of Albemarle in a research note on Tuesday, January 28th. They issued a “hold” rating and a $96.00 target price on the stock. Evercore ISI downgraded shares of Albemarle from an “outperform” rating to an “inline” rating in a research report on Wednesday, February 5th. Mizuho lowered their price objective on Albemarle from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Oppenheimer reduced their target price on Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $113.95.

Insider Activity

In related news, CEO J Kent Masters sold 2,525 shares of the 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 completion of the sale, the chief executive officer now directly owns 73,747 shares of the company’s stock, valued at approximately $7,457,296.64. This represents a 3.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.38% of the company’s stock.

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.