Waldron Private Wealth LLC Increases Holdings in Albemarle Co.

Waldron Private Wealth LLC has significantly increased its investment in Albemarle Co. (NYSE:ALB) by 172.1% during the fourth quarter, as revealed in the latest filing with the Securities and Exchange Commission. After acquiring an additional 4,051 shares, the institutional investor now owns a total of 6,405 shares of this specialty chemicals company. The value of Waldron Private Wealth LLC's stake in Albemarle is approximately $554,000 at the close of the most recent reporting period.

Recent Investor Activity

In addition to Waldron, several other large investors have also made moves regarding their shares in Albemarle. Manning & Napier Advisors LLC entered a new investment position during the fourth quarter, with an acquisition worth about $85.57 million. Moreover, Pathway Financial Advisers LLC has dramatically increased its holdings by an impressive 9,108.7% during the third quarter, acquiring a total of 574,805 shares valued at around $54.44 million. Similarly, Charles Schwab Investment Management Inc. boosted its stake in Albemarle by 38.2%, owning 1,020,590 shares valued at about $96.66 million after purchasing an additional 282,194 shares. FMR LLC has also reported a growth of 67.3% in its position, acquiring another 264,756 shares, bringing its total to 658,145 shares worth $62.33 million. Lastly, International Assets Investment Management LLC expanded its stake by a remarkable 7,667.4%, resulting in ownership of 163,659 shares valued at around $155 million. Currently, institutional investors and hedge funds own 92.87% of Albemarle's stock.

Market Performance

As of Friday, ALB shares opened at $83.99. Albemarle holds a market capitalization of $9.87 billion, with a price-to-earnings ratio (P/E) of -5.01 and a P/E to growth (P/G) ratio of 3.74, indicating potential future growth. The company's current financial ratios include a quick ratio of 1.58 and a current ratio of 2.44, along with a debt-to-equity ratio of 0.43. Over the past year, the stock has traded as low as $71.97 and as high as $143.19, with its 50-day moving average at $94.74 and its 200-day moving average at $93.28.

Analysts' Commentary

Research analysts have recently provided mixed insights regarding Albemarle. Robert W. Baird raised their price target from $79.00 to $103.00, issuing a “neutral” rating. KeyCorp lowered its price target from $132.00 to $127.00 and assigned an “overweight” rating. Clarkson Capital recently began coverage on Albemarle, giving it a “buy” rating with a target price of $112.00. Meanwhile, Truist Financial started its coverage with a “hold” rating and a price target of $96.00. Wells Fargo increased its target price from $100.00 to $110.00 while maintaining an “equal weight” rating. Overall, one analyst rates the stock as a sell, fifteen have a hold rating, and seven analysts recommend a buy. The average rating among analysts is “Hold,” with a price target of $113.95.

Insider Transactions

In related news, CEO J. Kent Masters sold 2,525 shares on December 5th, at an average price of $101.12 per share, totaling $255,328. Following this transaction, he retains 73,747 shares valued at approximately $7.46 million. This sale reflects a 3.31% reduction in his ownership stake. The transaction has been documented in a filing with the SEC.

About Albemarle Corporation

Albemarle Corporation specializes in developing, manufacturing, and marketing engineered specialty chemicals on a global scale. The company operates in three main segments: Energy Storage, Specialties, and Ketjen. Its Energy Storage segment encompasses lithium compounds and services for handling reactive lithium products, as well as recycling services for lithium-containing by-products.

investment, stocks, chemicals