Sumitomo Mitsui Trust Group Inc. Sells 7,927 Shares of Albemarle Co. (NYSE:ALB)

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Albemarle Co. (NYSE:ALB) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 311,128 shares of the specialty chemicals company’s stock after selling 7,927 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of Albemarle worth $26,782,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB acquired a new position in shares of Albemarle during the 3rd quarter valued at $692,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Albemarle in the third quarter valued at $76,000. Exchange Traded Concepts LLC raised its holdings in shares of Albemarle by 32.3% during the third quarter. Exchange Traded Concepts LLC now owns 1,817 shares of the specialty chemicals company’s stock valued at $172,000 after purchasing an additional 444 shares during the period. Norway Savings Bank boosted its position in shares of Albemarle by 23.0% during the 3rd quarter. Norway Savings Bank now owns 4,764 shares of the specialty chemicals company’s stock worth $451,000 after purchasing an additional 890 shares in the last quarter. Finally, Regatta Capital Group LLC grew its stake in shares of Albemarle by 156.7% in the 3rd quarter. Regatta Capital Group LLC now owns 7,347 shares of the specialty chemicals company’s stock valued at $696,000 after buying an additional 4,485 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Albemarle Trading Up 0.8 %

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

Insiders Place Their Bets

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

Analysts Set New Price Targets

ALB has been the topic of several recent research reports. Truist Financial began coverage on Albemarle in a report on Tuesday, January 28th. They issued a “hold” rating and a $96.00 price target on the stock. Robert W. Baird increased their target price on Albemarle from $79.00 to $103.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Oppenheimer decreased their price target on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Mizuho dropped their price objective on shares of Albemarle from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada boosted their target price on shares of Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus 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.