Aegis Wealth Management LLC Acquires New Holdings in Albemarle Corporation $ALB

Aegis Wealth Management LLC bought a new stake in Albemarle Corporation (NYSE:ALB) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,002 shares of the specialty chemicals company’s stock, valued at approximately $324,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALB. Manning & Napier Advisors LLC bought a new position in Albemarle during the third quarter valued at about $138,723,000. ProShare Advisors LLC boosted its position in shares of Albemarle by 48.5% during the 2nd quarter. ProShare Advisors LLC now owns 2,870,110 shares of the specialty chemicals company’s stock valued at $179,870,000 after purchasing an additional 937,538 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Albemarle by 22,047.4% in the 2nd quarter. AQR Capital Management LLC now owns 713,812 shares of the specialty chemicals company’s stock worth $44,613,000 after purchasing an additional 710,589 shares during the last quarter. Norges Bank acquired a new stake in Albemarle during the second quarter valued at approximately $29,482,000. Finally, HB Wealth Management LLC lifted its position in shares of Albemarle by 1,278.8% during the 3rd quarter. HB Wealth Management LLC now owns 440,608 shares of the specialty chemicals company’s stock valued at $35,725,000 after acquiring an additional 408,652 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Stock Up 4.5%

Albemarle stock opened at $163.47 on Monday. Albemarle Corporation has a twelve month low of $49.43 and a twelve month high of $195.68. The firm has a 50 day moving average price of $154.02 and a 200-day moving average price of $112.49. The company has a market capitalization of $19.24 billion, a P/E ratio of -102.81, a P/E/G ratio of 2.92 and a beta of 1.44. The company has a quick ratio of 1.51, a current ratio of 2.27 and a debt-to-equity ratio of 0.40.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. HSBC upgraded shares of Albemarle from a “hold” rating to a “buy” rating and set a $200.00 target price for the company in a report on Monday, January 19th. Weiss Ratings restated a “sell (d+)” rating on shares of Albemarle in a research report on Monday, December 29th. Bank of America increased their target price on Albemarle from $118.00 to $167.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Stephens reiterated an “outperform” rating on shares of Albemarle in a report on Friday, December 19th. Finally, Zacks Research raised Albemarle from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $161.16.

Albemarle Company Profile

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.