QCI Asset Management Inc. NY Boosts Position in Albemarle Co. (NYSE:ALB)

QCI Asset Management Inc. NY grew its holdings in Albemarle Co. (NYSE:ALB) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,813 shares of the specialty chemicals company’s stock after buying an additional 4,410 shares during the period. QCI Asset Management Inc. NY owned 0.06% of Albemarle worth $8,800,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in Albemarle by 258.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,561,987 shares of the specialty chemicals company’s stock worth $621,845,000 after purchasing an additional 3,287,989 shares during the last quarter. Jennison Associates LLC lifted its holdings in Albemarle by 21.4% during the 3rd quarter. Jennison Associates LLC now owns 7,797,076 shares of the specialty chemicals company’s stock worth $1,062,819,000 after purchasing an additional 1,375,546 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Albemarle by 95.3% during the 3rd quarter. Janus Henderson Group PLC now owns 1,595,684 shares of the specialty chemicals company’s stock worth $217,507,000 after purchasing an additional 778,649 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in Albemarle by 98.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,307,904 shares of the specialty chemicals company’s stock worth $178,281,000 after purchasing an additional 650,158 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Albemarle by 113.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 975,732 shares of the specialty chemicals company’s stock worth $129,109,000 after purchasing an additional 518,990 shares during the last quarter. 87.38% of the stock is owned by institutional investors.

Several analysts recently weighed in on ALB shares. Robert W. Baird raised Albemarle from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $131.72 to $133.51 in a report on Monday, January 8th. Oppenheimer lifted their price objective on Albemarle from $133.00 to $157.00 and gave the company an “outperform” rating in a report on Monday, October 16th. Deutsche Bank cut Albemarle from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Jefferies Group dropped their price objective on Albemarle to $150.00 and set a “buy” rating for the company in a report on Friday, January 19th. Finally, BMO Capital Markets assumed coverage on Albemarle in a report on Tuesday, October 24th. They issued an “outperform” rating and a $160.00 price objective for the company. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $127.88.

Shares of Albemarle Co. (ALB) traded up $0.70 on Tuesday, reaching $112.29. The company’s stock had a trading volume of 331,081 shares, compared to its average volume of 2,298,158. The firm has a market cap of $11,902.59, a P/E ratio of 14.48, a PEG ratio of 1.42 and a beta of 1.56. Albemarle Co. has a 52-week low of $90.35 and a 52-week high of $144.99. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.11 and a quick ratio of 1.56.

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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.

Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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