Global X Japan Co. Ltd. Acquires 778 Shares of Albemarle Co. (NYSE:ALB)

Global X Japan Co. Ltd. lifted its stake in shares of Albemarle Co. (NYSE:ALB) by 16.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,600 shares of the specialty chemicals company’s stock after purchasing an additional 778 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Albemarle were worth $482,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Primecap Management Co. CA boosted its holdings in shares of 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 acquiring an additional 20,930 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Albemarle by 38.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,020,590 shares of the specialty chemicals company’s stock worth $96,660,000 after buying an additional 282,194 shares during the period. Manning & Napier Advisors LLC acquired a new stake in Albemarle in the fourth quarter worth $85,570,000. Finally, Empower Advisory Group LLC increased its position in Albemarle by 28.7% in the 3rd quarter. Empower Advisory Group LLC now owns 705,719 shares of the specialty chemicals company’s stock valued at $66,839,000 after buying an additional 157,319 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO J Kent Masters sold 2,525 shares of the firm’s stock in a transaction dated 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 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 Securities & Exchange Commission, which is available through this link. 0.38% of the stock is currently owned by corporate insiders.

Albemarle Price Performance

NYSE:ALB opened at $78.99 on Friday. The business’s 50-day moving average is $92.52 and its 200 day moving average is $92.92. 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.

Wall Street Analyst Weigh In

ALB has been the topic of a number of recent research reports. Mizuho dropped their target price on Albemarle from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Oppenheimer reduced their target price 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. Clarkson Capital assumed coverage on Albemarle in a research note on Tuesday, January 14th. They issued a “buy” rating and a $112.00 price objective on the stock. Truist Financial began coverage on Albemarle in a report on Tuesday, January 28th. They issued a “hold” rating and a $96.00 price objective for the company. Finally, Robert W. Baird upped their price objective on shares of Albemarle from $79.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $113.95.

Albemarle 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.