Nicholas Investment Partners LP bought a new position in shares of Albemarle Corporation (NYSE:ALB) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 81,167 shares of the company’s stock, valued at approximately $6,987,000.
Several other hedge funds also recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its position in Albemarle Corporation by 218.8% in the third quarter. Jennison Associates LLC now owns 4,147,707 shares of the company’s stock worth $354,587,000 after buying an additional 2,846,734 shares during the period. Egerton Capital UK LLP purchased a new position in shares of Albemarle Corporation during the second quarter worth about $118,587,000. Columbus Circle Investors boosted its position in shares of Albemarle Corporation by 14,545.6% in the third quarter. Columbus Circle Investors now owns 839,484 shares of the company’s stock worth $71,767,000 after buying an additional 833,752 shares during the last quarter. Anchor Bolt Capital LP boosted its position in shares of Albemarle Corporation by 62.3% in the second quarter. Anchor Bolt Capital LP now owns 999,321 shares of the company’s stock worth $79,256,000 after buying an additional 383,564 shares during the last quarter. Finally, Scout Investments Inc. purchased a new position in shares of Albemarle Corporation during the second quarter worth about $28,760,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.
Shares of Albemarle Corporation (NYSE:ALB) traded down 4.39% on Tuesday, reaching $90.59. The company’s stock had a trading volume of 907,630 shares. Albemarle Corporation has a 12-month low of $50.04 and a 12-month high of $95.89. The company’s 50 day moving average price is $92.40 and its 200 day moving average price is $85.39. The company has a market cap of $10.19 billion, a P/E ratio of 47.43 and a beta of 1.41.
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ALB has been the subject of a number of recent research reports. Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating and issued a $116.00 target price on shares of Albemarle Corporation in a report on Thursday, January 12th. Zacks Investment Research raised Albemarle Corporation from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a report on Tuesday, November 22nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $102.00 target price on shares of Albemarle Corporation in a report on Friday, January 6th. Robert W. Baird raised Albemarle Corporation from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $81.00 to $118.00 in a report on Tuesday, January 17th. Finally, Instinet upped their target price on Albemarle Corporation from $92.00 to $102.00 and gave the stock a “buy” rating in a report on Friday, January 6th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Albemarle Corporation currently has a consensus rating of “Buy” and an average target price of $93.27.
In other Albemarle Corporation news, EVP Karen G. Narwold sold 10,000 shares of the stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $86.11, for a total transaction of $861,100.00. Following the completion of the transaction, the executive vice president now owns 31,108 shares of the company’s stock, valued at approximately $2,678,709.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott Tozier sold 1,057 shares of the stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $90.62, for a total transaction of $95,785.34. Following the completion of the transaction, the chief financial officer now directly owns 29,722 shares of the company’s stock, valued at approximately $2,693,407.64. The disclosure for this sale can be found here. Insiders have sold a total of 13,991 shares of company stock valued at $1,222,346 in the last three months. Insiders own 0.71% of the company’s stock.
About Albemarle Corporation
Albemarle Corporation is a developer, manufacturer and marketer of specialty chemicals across a range of end markets, including the petroleum refining, consumer electronics, energy storage, construction, automotive, steel and aerospace, lubricants, pharmaceuticals, crop protection, household appliances, heating, ventilation, aluminum finishing, food safety and custom chemistry services.
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