2,783 Shares in Albemarle Co. (NYSE:ALB) Acquired by Cigna Investments Inc. New

Cigna Investments Inc. New bought a new position in shares of Albemarle Co. (NYSE:ALB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,783 shares of the specialty chemicals company’s stock, valued at approximately $223,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Simon Quick Advisors LLC acquired a new position in shares of Albemarle in the 4th quarter valued at $32,000. CWM LLC boosted its holdings in shares of Albemarle by 84.9% in the 3rd quarter. CWM LLC now owns 501 shares of the specialty chemicals company’s stock valued at $35,000 after purchasing an additional 230 shares during the last quarter. CFM Wealth Partners LLC acquired a new position in shares of Albemarle in the 4th quarter valued at $69,000. Carroll Financial Associates Inc. boosted its holdings in shares of Albemarle by 61.8% in the 4th quarter. Carroll Financial Associates Inc. now owns 1,018 shares of the specialty chemicals company’s stock valued at $74,000 after purchasing an additional 389 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its holdings in shares of Albemarle by 21.8% in the 3rd quarter. CENTRAL TRUST Co now owns 1,118 shares of the specialty chemicals company’s stock valued at $77,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 92.38% of the company’s stock.

In other news, CFO Scott Tozier sold 2,753 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.56, for a total value of $197,004.68. Following the transaction, the chief financial officer now owns 52,425 shares of the company’s stock, valued at approximately $3,751,533. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.02% of the company’s stock.

ALB has been the topic of a number of research analyst reports. Morgan Stanley decreased their price target on shares of Albemarle from $60.00 to $50.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Credit Suisse Group reiterated a “buy” rating and issued a $85.00 price target on shares of Albemarle in a report on Friday, November 8th. Robert W. Baird lowered shares of Albemarle from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $90.00 to $100.00 in a report on Wednesday, February 5th. Berenberg Bank lowered shares of Albemarle from a “buy” rating to a “hold” rating in a report on Friday, January 3rd. Finally, HSBC downgraded shares of Albemarle from a “buy” rating to a “hold” rating and set a $89.00 target price on the stock. in a research note on Wednesday, January 22nd. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. Albemarle has a consensus rating of “Hold” and an average target price of $80.84.

Shares of ALB stock opened at $89.64 on Friday. The company’s fifty day simple moving average is $78.78 and its 200-day simple moving average is $69.49. Albemarle Co. has a 52 week low of $58.63 and a 52 week high of $93.14. The company has a current ratio of 1.39, a quick ratio of 0.82 and a debt-to-equity ratio of 0.34. The company has a market cap of $9.32 billion, a PE ratio of 15.06, a P/E/G ratio of 1.82 and a beta of 1.57.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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