Lewis Asset Management LLC Has $216,000 Position in Albemarle Co. (NYSE:ALB)

Lewis Asset Management LLC trimmed its position in shares of Albemarle Co. (NYSE:ALB) by 60.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,510 shares of the specialty chemicals company’s stock after selling 3,827 shares during the period. Lewis Asset Management LLC’s holdings in Albemarle were worth $216,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Primecap Management Co. CA raised its stake in shares of Albemarle by 0.5% during the 3rd quarter. Primecap Management Co. CA now owns 3,833,984 shares of the specialty chemicals company’s stock worth $363,117,000 after purchasing an additional 20,930 shares in the last quarter. Geode Capital Management LLC increased its holdings in Albemarle by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,741,906 shares of the specialty chemicals company’s stock worth $258,797,000 after buying an additional 14,874 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Albemarle by 38.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,020,590 shares of the specialty chemicals company’s stock valued at $96,660,000 after acquiring an additional 282,194 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in Albemarle in the fourth quarter valued at approximately $85,570,000. Finally, Empower Advisory Group LLC grew its position in Albemarle by 28.7% in the third quarter. Empower Advisory Group LLC now owns 705,719 shares of the specialty chemicals company’s stock worth $66,839,000 after acquiring an additional 157,319 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Activity at Albemarle

In other news, CEO J Kent Masters sold 2,525 shares of the company’s stock in a transaction that occurred 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 approximately $7,457,296.64. This represents a 3.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.38% of the stock is currently owned by insiders.

Albemarle Trading Up 0.5 %

Shares of Albemarle stock opened at $86.35 on Thursday. The company’s fifty day moving average price is $95.69 and its two-hundred day moving average price is $93.44. The firm has a market capitalization of $10.15 billion, a PE ratio of -5.16, a price-to-earnings-growth ratio of 3.19 and a beta of 1.58. Albemarle Co. has a 52-week low of $71.97 and a 52-week high of $143.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. 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 objective for the company. KeyCorp decreased their price target on Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Wells Fargo & Company raised their price objective on Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Truist Financial assumed coverage on Albemarle in a research report on Tuesday. They set a “hold” rating and a $96.00 target price for the company. Finally, Royal Bank of Canada lifted their price target on shares of Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $113.95.

Albemarle 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.