Stephens Investment Management Group LLC Invests $5.79 Million in Albemarle Co. (ALB) Stock
Stephens Investment Management Group LLC acquired a new stake in Albemarle Co. (NYSE:ALB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 45,246 shares of the specialty chemicals company’s stock, valued at approximately $5,787,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. increased its stake in Albemarle by 650.0% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock valued at $102,000 after purchasing an additional 650 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Albemarle during the 4th quarter valued at $103,000. Stephens Inc. AR acquired a new stake in Albemarle during the 4th quarter valued at $115,000. Howe & Rusling Inc. grew its holdings in Albemarle by 2,038.0% during the 3rd quarter. Howe & Rusling Inc. now owns 1,069 shares of the specialty chemicals company’s stock valued at $146,000 after buying an additional 1,019 shares during the last quarter. Finally, Advisory Services Network LLC grew its holdings in Albemarle by 43.7% during the 2nd quarter. Advisory Services Network LLC now owns 1,273 shares of the specialty chemicals company’s stock valued at $134,000 after buying an additional 387 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.
Shares of Albemarle Co. (NYSE:ALB) opened at $105.18 on Friday. Albemarle Co. has a fifty-two week low of $90.35 and a fifty-two week high of $144.99. The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $11,782.15, a price-to-earnings ratio of 13.61, a PEG ratio of 1.40 and a beta of 1.56.
A number of equities research analysts have commented on the company. Seaport Global Securities reiterated a “hold” rating and set a $130.00 target price on shares of Albemarle in a report on Monday. UBS Group upgraded Albemarle from a “neutral” rating to a “buy” rating and increased their target price for the company from $113.00 to $150.00 in a report on Tuesday, January 30th. Jefferies Group lowered their target price on Albemarle to $150.00 and set a “buy” rating on the stock in a report on Friday, January 19th. Oppenheimer reiterated a “buy” rating on shares of Albemarle in a report on Wednesday, January 17th. Finally, Robert W. Baird upgraded Albemarle from a “neutral” rating to an “outperform” rating and increased their target price for the company from $131.72 to $133.51 in a report on Monday, January 8th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $127.88.
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Albemarle Company Profile
Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.
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