State of New Jersey Common Pension Fund D Grows Position in Albemarle Co. (NYSE:ALB)

State of New Jersey Common Pension Fund D lifted its holdings in Albemarle Co. (NYSE:ALB) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,708 shares of the specialty chemicals company’s stock after buying an additional 619 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Albemarle were worth $3,762,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Opes Wealth Management LLC raised its holdings in Albemarle by 11.3% in the 4th quarter. Opes Wealth Management LLC now owns 7,461 shares of the specialty chemicals company’s stock valued at $642,000 after acquiring an additional 760 shares during the last quarter. Bristlecone Advisors LLC increased its holdings in shares of Albemarle by 20.5% in the fourth quarter. Bristlecone Advisors LLC now owns 28,824 shares of the specialty chemicals company’s stock valued at $2,481,000 after purchasing an additional 4,899 shares during the last quarter. Soltis Investment Advisors LLC purchased a new position in Albemarle during the fourth quarter worth approximately $1,801,000. Ferguson Wellman Capital Management Inc. boosted its stake in Albemarle by 9.0% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 4,095 shares of the specialty chemicals company’s stock worth $352,000 after buying an additional 338 shares during the last quarter. Finally, MFA Wealth Advisors LLC grew its holdings in Albemarle by 21.9% in the 4th quarter. MFA Wealth Advisors LLC now owns 14,087 shares of the specialty chemicals company’s stock valued at $1,213,000 after buying an additional 2,527 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO J Kent Masters sold 2,525 shares of the firm’s 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 $7,457,296.64. This trade represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.38% of the company’s stock.

Albemarle Price Performance

Shares of ALB opened at $83.55 on Thursday. The company has a market cap of $9.82 billion, a P/E ratio of -7.46, a PEG ratio of 3.52 and a beta of 1.59. Albemarle Co. has a fifty-two week low of $71.97 and a fifty-two week high of $143.19. The company has a quick ratio of 1.19, a current ratio of 1.95 and a debt-to-equity ratio of 0.39. The firm’s 50 day moving average price is $87.71 and its 200 day moving average price is $92.14.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.49). Albemarle had a negative return on equity of 1.72% and a negative net margin of 21.93%. On average, research analysts forecast that Albemarle Co. will post 1.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALB has been the topic of several analyst reports. BMO Capital Markets reduced their price target on Albemarle from $150.00 to $140.00 in a report on Wednesday, February 12th. Scotiabank reduced their target price on shares of Albemarle from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Clarkson Capital began coverage on shares of Albemarle in a research note on Tuesday, January 14th. They issued a “buy” rating and a $112.00 price target for the company. Truist Financial reduced their price target on shares of Albemarle from $96.00 to $85.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Finally, Morgan Stanley lowered their price objective on Albemarle from $73.00 to $68.00 and set an “underweight” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Albemarle presently has an average rating of “Hold” and a consensus price target of $109.91.

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.