The Hahn Capital Management LLC Has $25,163,000 Stake in Albemarle Corporation (ALB), Report finds

The Hahn Capital Management LLC Has $25,163,000 Stake in Albemarle Corporation (ALB), Report finds

Other hedge funds have also recently bought and sold shares of the company. Picton Mahoney Asset Management bought a new stake in Albemarle Corporation during the third quarter worth $15,749,000. Dana Investment Advisors Inc. bought a new stake in Albemarle Corporation during the third quarter worth $15,118,000. Xact Kapitalforvaltning AB bought a new stake in Albemarle Corporation during the third quarter worth $1,759,000. National Asset Management Inc. bought a new stake in Albemarle Corporation during the third quarter worth $275,000. Finally, Summit Partners Public Asset Management LLC increased its stake in Albemarle Corporation by 380.0% in the third quarter. Summit Partners Public Asset Management LLC now owns 70,000 shares of the company’s stock worth $5,984,000 after buying an additional 95,000 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Hahn Capital Management LLC decreased its position in shares of Albemarle Corporation (NYSE:ALB) by 5.2% during the third quarter, Holdings Channel reports. The institutional investor owned 301,178 shares of the company’s stock after selling 16,608 shares during the period. Albemarle Corporation comprises 2.5% of Hahn Capital Management LLC’s investment portfolio, making the stock its 24th largest position. Hahn Capital Management LLC’s holdings in Albemarle Corporation were worth $25,163,000 as of its most recent filing with the SEC.

Albemarle Corporation (NYSE:ALB) opened at 93.70 on Monday. The stock’s 50 day moving average is $92.22 and its 200 day moving average is $85.32. The firm has a market cap of $10.54 billion, a P/E ratio of 49.06 and a beta of 1.41. Albemarle Corporation has a one year low of $50.95 and a one year high of $95.89.

A number of analysts have recently weighed in on the stock. Robert W. Baird raised shares of Albemarle Corporation from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $81.00 to $118.00 in a research report on Tuesday, January 17th. Zacks Investment Research raised shares of Albemarle Corporation from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a research report on Tuesday, November 22nd. Goldman Sachs Group, Inc. (The) reissued a “conviction-buy” rating and set a $116.00 price target on shares of Albemarle Corporation in a research report on Thursday, January 12th. Jefferies Group LLC reissued a “buy” rating and set a $102.00 price target on shares of Albemarle Corporation in a research report on Friday, January 6th. Finally, Instinet raised their price target on shares of Albemarle Corporation from $92.00 to $102.00 and gave the stock a “buy” rating in a research report on Friday, January 6th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $93.27.

In other news, Chairman Luther C. Iv Kissam sold 2,542 shares of the company’s stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $90.46, for a total transaction of $229,949.32. Following the completion of the transaction, the chairman now directly owns 190,628 shares in the company, valued at $17,244,208.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Scott Tozier sold 1,057 shares of the company’s stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $90.62, for a total value of $95,785.34. Following the transaction, the chief financial officer now owns 29,722 shares of the company’s stock, valued at $2,693,407.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,991 shares of company stock valued at $1,222,346. Corporate insiders own 0.71% of the company’s stock.

About Albemarle Corporation

Albemarle Corporation is a developer, manufacturer and marketer of specialty chemicals across a range of end markets, including the petroleum refining, consumer electronics, energy storage, construction, automotive, steel and aerospace, lubricants, pharmaceuticals, crop protection, household appliances, heating, ventilation, aluminum finishing, food safety and custom chemistry services.

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