Creative Planning Sells 385 Shares of Albemarle Co. (NYSE:ALB)

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Creative Planning trimmed its stake in Albemarle Co. (NYSE:ALB) by 9.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,864 shares of the specialty chemicals company’s stock after selling 385 shares during the period. Creative Planning’s holdings in Albemarle were worth $282,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ALB. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Albemarle by 0.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 176,692 shares of the specialty chemicals company’s stock valued at $14,484,000 after purchasing an additional 460 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Albemarle by 9.0% in the 2nd quarter. BlackRock Inc. now owns 8,304,153 shares of the specialty chemicals company’s stock valued at $584,695,000 after purchasing an additional 682,231 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Albemarle by 9.9% in the 3rd quarter. Pacer Advisors Inc. now owns 11,115 shares of the specialty chemicals company’s stock valued at $773,000 after purchasing an additional 1,004 shares during the last quarter. DNB Asset Management AS lifted its stake in shares of Albemarle by 21.6% in the 3rd quarter. DNB Asset Management AS now owns 19,424 shares of the specialty chemicals company’s stock valued at $1,350,000 after purchasing an additional 3,455 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of Albemarle by 73.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 249,402 shares of the specialty chemicals company’s stock worth $17,339,000 after acquiring an additional 105,557 shares during the last quarter. 92.38% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE ALB opened at $87.93 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.39 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $78.44 and a two-hundred day simple moving average of $69.41. The firm has a market cap of $8.83 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 1.72 and a beta of 1.57. Albemarle Co. has a twelve month low of $58.63 and a twelve month high of $93.14.

A number of brokerages recently issued reports on ALB. Seaport Global Securities lowered Albemarle from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. HSBC lowered Albemarle from a “buy” rating to a “hold” rating and set a $89.00 price target for the company. in a research note on Wednesday, January 22nd. TheStreet raised Albemarle from a “c+” rating to a “b-” rating in a research note on Tuesday, January 28th. Morgan Stanley decreased their price target on Albemarle from $60.00 to $50.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Finally, BMO Capital Markets decreased their price target on Albemarle from $95.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $84.15.

In other Albemarle news, CFO Scott Tozier sold 2,753 shares of Albemarle stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.56, for a total transaction of $197,004.68. Following the completion of the sale, the chief financial officer now directly owns 52,425 shares of the company’s stock, valued at approximately $3,751,533. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.02% of the company’s stock.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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