Vest Financial LLC Acquires 75,000 Shares of Albemarle Co. (NYSE:ALB)

Vest Financial LLC grew its stake in Albemarle Co. (NYSE:ALB) by 14.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 596,537 shares of the specialty chemicals company’s stock after buying an additional 75,000 shares during the period. Vest Financial LLC owned approximately 0.51% of Albemarle worth $51,350,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Global X Japan Co. Ltd. lifted its holdings in Albemarle by 16.1% in the 4th quarter. Global X Japan Co. Ltd. now owns 5,600 shares of the specialty chemicals company’s stock worth $482,000 after purchasing an additional 778 shares during the last quarter. Ameliora Wealth Management Ltd. bought a new stake in shares of Albemarle during the 4th quarter worth $35,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Albemarle by 37.0% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,629 shares of the specialty chemicals company’s stock valued at $1,259,000 after buying an additional 3,947 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Albemarle by 20.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,633 shares of the specialty chemicals company’s stock worth $2,528,000 after acquiring an additional 4,820 shares during the period. Finally, Hager Investment Management Services LLC acquired a new position in Albemarle during the 4th quarter worth $394,000. Institutional investors own 92.87% of the company’s stock.

Albemarle Price Performance

NYSE:ALB opened at $77.30 on Friday. The firm has a market cap of $9.09 billion, a PE ratio of -4.61, a price-to-earnings-growth ratio of 3.65 and a beta of 1.59. The company’s 50-day moving average price is $91.91 and its two-hundred day moving average price is $92.80. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. Albemarle Co. has a 12 month low of $71.97 and a 12 month high of $143.19.

Insider Transactions at Albemarle

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

Wall Street Analyst Weigh In

ALB has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price objective on Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. KeyCorp cut their price target on Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Robert W. Baird raised their price objective on shares of Albemarle from $79.00 to $103.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. 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 for the company. Finally, Evercore ISI lowered shares of Albemarle from an “outperform” rating to an “inline” rating in a research report on Wednesday. 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 data from MarketBeat, the stock has an average 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.