Alps Advisors Inc. bought a new stake in shares of Albemarle Co. (NYSE:ALB) during the fourth quarter, HoldingsChannel.com reports. The fund bought 1,994 shares of the specialty chemicals company’s stock, valued at approximately $255,000.

Several other large investors have also made changes to their positions in the company. Jennison Associates LLC raised its stake in Albemarle by 1.0% in the 4th quarter. Jennison Associates LLC now owns 7,876,682 shares of the specialty chemicals company’s stock valued at $1,007,349,000 after purchasing an additional 79,606 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Albemarle by 258.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,561,987 shares of the specialty chemicals company’s stock valued at $621,845,000 after purchasing an additional 3,287,989 shares during the last quarter. Janus Henderson Group PLC raised its stake in Albemarle by 95.3% in the 3rd quarter. Janus Henderson Group PLC now owns 1,595,684 shares of the specialty chemicals company’s stock valued at $217,507,000 after purchasing an additional 778,649 shares during the last quarter. Allianz Asset Management GmbH raised its stake in Albemarle by 98.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,307,904 shares of the specialty chemicals company’s stock valued at $178,281,000 after purchasing an additional 650,158 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Albemarle by 113.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 975,732 shares of the specialty chemicals company’s stock valued at $129,109,000 after purchasing an additional 518,990 shares during the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Shares of Albemarle Co. (NYSE:ALB) opened at $111.72 on Thursday. 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 $11,983.25, a PE ratio of 26.84, a P/E/G ratio of 1.43 and a beta of 1.56. Albemarle Co. has a 52-week low of $91.02 and a 52-week high of $144.99.

Several research analysts recently commented on ALB shares. Robert W. Baird raised Albemarle from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $131.72 to $133.51 in a research note on Monday, January 8th. Deutsche Bank downgraded Albemarle from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Oppenheimer reaffirmed a “buy” rating on shares of Albemarle in a research note on Wednesday, January 17th. Jefferies Group cut their target price on Albemarle to $150.00 and set a “buy” rating for the company in a research note on Friday, January 19th. Finally, BMO Capital Markets started coverage on Albemarle in a research note on Tuesday, October 24th. They issued an “outperform” rating and a $160.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $127.88.

WARNING: “Alps Advisors Inc. Takes $255,000 Position in Albemarle Co. (ALB)” was first reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this news story on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this news story can be read at https://theolympiareport.com/2018/02/15/alps-advisors-inc-takes-255000-position-in-albemarle-co-alb.html.

About Albemarle

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.

Want to see what other hedge funds are holding ALB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Albemarle Co. (NYSE:ALB).

Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.