Bristlecone Advisors LLC Purchases 4,899 Shares of Albemarle Co. (NYSE:ALB)

Bristlecone Advisors LLC boosted its position in Albemarle Co. (NYSE:ALB) by 20.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,824 shares of the specialty chemicals company’s stock after purchasing an additional 4,899 shares during the period. Bristlecone Advisors LLC’s holdings in Albemarle were worth $2,481,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ALB. Quarry LP boosted its position in Albemarle by 1,400.0% during the 3rd quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 252 shares during the period. Trust Co. of Vermont increased its holdings in Albemarle by 606.5% in the fourth quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 279 shares during the period. Eastern Bank bought a new stake in shares of Albemarle in the 3rd quarter valued at about $31,000. Cromwell Holdings LLC raised its position in shares of Albemarle by 61.9% during the third quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 148 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in shares of Albemarle by 50.4% in the third quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 132 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $101.12, for a total value 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 filing with the SEC, which is available through the SEC website. 0.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ALB has been the topic of a number of recent analyst reports. Truist Financial started coverage on shares of Albemarle in a research report on Tuesday, January 28th. They issued a “hold” rating and a $96.00 price target on the stock. Mizuho dropped their price objective on Albemarle from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada raised their target price on Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Robert W. Baird increased their price target on Albemarle from $79.00 to $103.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Finally, Clarkson Capital began coverage on shares of Albemarle in a research note on Tuesday, January 14th. They set a “buy” rating and a $112.00 target price on the stock. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $113.95.

Albemarle Price Performance

ALB opened at $77.30 on Monday. The firm has a market cap of $9.09 billion, a P/E ratio of -4.61, a PEG ratio of 3.43 and a beta of 1.59. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44. Albemarle Co. has a fifty-two week low of $71.97 and a fifty-two week high of $143.19. The firm has a 50-day moving average of $91.91 and a 200 day moving average of $92.83.

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.