Alps Advisors Inc. Has $11.33 Million Position in Albemarle Corporation $ALB

Alps Advisors Inc. boosted its position in Albemarle Corporation (NYSE:ALB) by 5.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,682 shares of the specialty chemicals company’s stock after purchasing an additional 7,763 shares during the quarter. Alps Advisors Inc. owned about 0.12% of Albemarle worth $11,325,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ALB. AQR Capital Management LLC grew its stake in shares of Albemarle by 25.5% in the first quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company’s stock valued at $229,000 after acquiring an additional 654 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Albemarle by 26.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,798 shares of the specialty chemicals company’s stock worth $346,000 after purchasing an additional 996 shares in the last quarter. United Services Automobile Association bought a new position in shares of Albemarle during the first quarter worth approximately $208,000. Empowered Funds LLC acquired a new stake in shares of Albemarle in the first quarter valued at approximately $411,000. Finally, QRG Capital Management Inc. raised its position in shares of Albemarle by 25.7% in the second quarter. QRG Capital Management Inc. now owns 3,688 shares of the specialty chemicals company’s stock valued at $231,000 after buying an additional 755 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Albemarle Price Performance

ALB stock opened at $163.47 on Monday. The stock has a market cap of $19.24 billion, a price-to-earnings ratio of -102.81, a P/E/G ratio of 2.92 and a beta of 1.44. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.51. The company has a 50 day simple moving average of $154.02 and a 200 day simple moving average of $112.49. Albemarle Corporation has a 1 year low of $49.43 and a 1 year high of $195.68.

Wall Street Analyst Weigh In

ALB has been the topic of a number of analyst reports. Citigroup increased their price target on Albemarle from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Wells Fargo & Company increased their target price on Albemarle from $135.00 to $174.00 and gave the stock an “equal weight” rating in a report on Monday, January 26th. Mizuho raised their price target on Albemarle from $132.00 to $156.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Truist Financial raised shares of Albemarle from a “hold” rating to a “buy” rating and upped their price objective for the stock from $125.00 to $205.00 in a research report on Wednesday, January 21st. Finally, Bank of America upped their price target on shares of Albemarle from $118.00 to $167.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on 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.