Ameliora Wealth Management Ltd. Makes New Investment in Albemarle Co. (NYSE:ALB)

Ameliora Wealth Management Ltd. acquired a new position in shares of Albemarle Co. (NYSE:ALB) in the fourth quarter, Holdings Channel.com reports. The firm acquired 410 shares of the specialty chemicals company’s stock, valued at approximately $35,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Albemarle by 37.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,629 shares of the specialty chemicals company’s stock worth $1,259,000 after acquiring an additional 3,947 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Albemarle by 20.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,633 shares of the specialty chemicals company’s stock worth $2,528,000 after buying an additional 4,820 shares in the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of Albemarle during the fourth quarter worth $394,000. Stratos Wealth Partners LTD. grew its holdings in shares of Albemarle by 260.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 14,302 shares of the specialty chemicals company’s stock worth $1,231,000 after buying an additional 10,338 shares in the last quarter. Finally, Old North State Wealth Management LLC grew its holdings in shares of Albemarle by 5.3% during the fourth quarter. Old North State Wealth Management LLC now owns 21,113 shares of the specialty chemicals company’s stock worth $1,821,000 after buying an additional 1,065 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Albemarle

In related news, CEO J Kent Masters sold 2,525 shares of Albemarle stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $101.12, for a total transaction of $255,328.00. Following the sale, the chief executive officer now directly owns 73,747 shares in the company, valued at $7,457,296.64. The trade was a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.38% of the company’s stock.

Albemarle Stock Performance

ALB stock opened at $78.99 on Friday. Albemarle Co. has a 1 year low of $71.97 and a 1 year high of $143.19. The stock’s fifty day moving average is $92.52 and its two-hundred day moving average is $92.92. 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 stock has a market capitalization of $9.28 billion, a price-to-earnings ratio of -4.72, a PEG ratio of 3.65 and a beta of 1.59.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ALB shares. Truist Financial assumed coverage on shares of Albemarle in a report on Tuesday, January 28th. They set a “hold” rating and a $96.00 target price for the company. KeyCorp reduced their price target on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Clarkson Capital assumed coverage on shares of Albemarle in a report on Tuesday, January 14th. They set a “buy” rating and a $112.00 price target for the company. Oppenheimer reduced their price target on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Evercore ISI cut shares of Albemarle from an “outperform” rating to an “inline” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $113.95.

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.