Synovus Financial Corp Grows Position in Albemarle Co. (ALB)

Synovus Financial Corp increased its position in Albemarle Co. (NYSE:ALB) by 16.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,123 shares of the specialty chemicals company’s stock after acquiring an additional 1,754 shares during the period. Synovus Financial Corp’s holdings in Albemarle were worth $1,549,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Golden Gate Private Equity Inc. grew its holdings in Albemarle by 1.5% during the third quarter. Golden Gate Private Equity Inc. now owns 25,870 shares of the specialty chemicals company’s stock valued at $3,526,000 after purchasing an additional 370 shares during the last quarter. Advisory Services Network LLC grew 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 valued at $134,000 after purchasing an additional 387 shares during the last quarter. Strs Ohio grew its holdings in Albemarle by 4.3% during the third quarter. Strs Ohio now owns 9,374 shares of the specialty chemicals company’s stock valued at $1,277,000 after purchasing an additional 390 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in Albemarle by 6.8% during the fourth quarter. First Citizens Bank & Trust Co. now owns 6,431 shares of the specialty chemicals company’s stock valued at $822,000 after purchasing an additional 411 shares during the last quarter. Finally, Colony Group LLC grew its holdings in Albemarle by 3.9% during the third quarter. Colony Group LLC now owns 12,880 shares of the specialty chemicals company’s stock valued at $1,756,000 after purchasing an additional 479 shares during the last quarter. Hedge funds and other institutional investors own 87.23% of the company’s stock.

Several equities analysts have commented on the company. UBS Group increased their price target on Albemarle from $123.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, November 9th. Seaport Global Securities reiterated a “hold” rating and set a $130.00 price target on shares of Albemarle in a report on Monday, February 5th. Jefferies Group increased their price target on Albemarle from $156.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, November 14th. Robert W. Baird reiterated a “hold” rating and set a $135.00 price target on shares of Albemarle in a report on Wednesday, November 1st. Finally, Royal Bank of Canada increased their price target on Albemarle from $149.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $128.88.

Shares of Albemarle Co. (NYSE ALB) opened at $114.00 on Thursday. Albemarle Co. has a 12-month low of $91.02 and a 12-month 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. The firm has a market capitalization of $12,660.59, a P/E ratio of 14.62, a PEG ratio of 1.51 and a beta 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.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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