SteelPeak Wealth LLC Decreases Holdings in Albemarle Co. (NYSE:ALB)

SteelPeak Wealth LLC trimmed its position in shares of Albemarle Co. (NYSE:ALB) by 31.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,012 shares of the specialty chemicals company’s stock after selling 9,502 shares during the quarter. SteelPeak Wealth LLC’s holdings in Albemarle were worth $1,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP boosted its position in Albemarle by 1,400.0% in the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 252 shares during the last quarter. Trust Co. of Vermont lifted its stake in shares of Albemarle by 606.5% in the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 279 shares during the period. Eastern Bank purchased a new position in shares of Albemarle in the third quarter worth approximately $31,000. First Community Trust NA grew its position in Albemarle by 55.0% during the fourth quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 142 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Albemarle by 48.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 136 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Albemarle

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. KeyCorp lowered their price target on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Robert W. Baird upped 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. Wells Fargo & Company raised their price target on Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Finally, Truist Financial began coverage on Albemarle in a research report on Tuesday. They set a “hold” rating and a $96.00 target price for the company. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $113.95.

Albemarle Stock Up 0.5 %

Shares of NYSE:ALB opened at $86.35 on Thursday. The company 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 12 month low of $71.97 and a 12 month high of $143.19. The company has a current ratio of 2.44, a quick ratio of 1.58 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $95.69 and a 200 day moving average price of $93.44.

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.