Wealthstreet Investment Advisors LLC bought a new position in shares of Albemarle Co. (NYSE:ALB) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,625 shares of the specialty chemicals company’s stock, valued at approximately $591,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of ALB. Thompson Davis & CO. Inc. raised its holdings in Albemarle by 650.0% during the third quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock worth $102,000 after buying an additional 650 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in Albemarle during the fourth quarter worth $103,000. Stephens Inc. AR acquired a new position in Albemarle during the fourth quarter worth $115,000. Howe & Rusling Inc. raised its holdings in Albemarle by 2,038.0% during the third quarter. Howe & Rusling Inc. now owns 1,069 shares of the specialty chemicals company’s stock worth $146,000 after buying an additional 1,019 shares during the last quarter. Finally, Advisory Services Network LLC raised its holdings in Albemarle by 43.7% during the second quarter. Advisory Services Network LLC now owns 1,273 shares of the specialty chemicals company’s stock worth $134,000 after buying an additional 387 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.
ALB has been the topic of several research reports. Robert W. Baird upgraded shares of Albemarle from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $131.72 to $133.51 in a report on Monday, January 8th. Deutsche Bank downgraded shares of Albemarle from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Oppenheimer restated a “buy” rating on shares of Albemarle in a report on Wednesday, January 17th. Jefferies Group lowered their price objective on shares of Albemarle to $150.00 and set a “buy” rating on the stock in a report on Friday, January 19th. Finally, BMO Capital Markets initiated coverage on shares of Albemarle in a report on Tuesday, October 24th. They set an “outperform” rating and a $160.00 price objective on the stock. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Albemarle has an average rating of “Buy” and an average 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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