Saturday, June 25, 2022

A company insider recently bought 1,060 shares of Albemarle Corporation [ALB]. Should You Buy?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Albemarle Corporation shares valued at $199,074 were purchased by Johnson Netha N. on Feb 18. At $187.81 per share, Johnson Netha N. acquired 1,060 shares. The insider’s holdings grew to 7,303 shares worth approximately $1.56 million following the completion of this transaction.


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Also, Masters J Kent purchased 5,241 shares, netting a total of over 999,983 in proceeds. Following the buying of shares at $190.80 each, the insider now holds 15,872 shares.

Before that, NARWOLD KAREN G had sold 2,308 shares from its account. In a trade valued at $553,782, the EVP, Chief Admin Officer traded Albemarle Corporation shares for $239.94 each. Upon closing the transaction, the insider’s holdings decreased to 2,308 shares, worth approximately $3.02 million.

As published in a research note from UBS on June 02, 2022, Albemarle Corporation [ALB] has been rated down from a Buy to a Neutral and the price target has been revised to $260 from $300. This represents a 17.84% premium over Thursday’s closing price. Analysts at Wells Fargo upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in mid May. As of February 01, 2022, BofA Securities has increased its “an Underperform” rating to a “Neutral” for ALB. Earlier on January 27, 2022, HSBC Securities upgraded its rating. Their new recommendation was “a Buy” for ALB stock which previously was a “a Hold”.

Analyzing ALB’s Price Performance

On Thursday, Albemarle Corporation [NYSE: ALB] plunged -1.21% to $213.62. The stock’s lowest price that day was $209.31, but it reached a high of $219.60 in the same session. During the last five days, there has been a drop of approximately -0.68%. Over the course of the year, Albemarle Corporation shares have dropped approximately -8.62%. Shares of the company reached a 52-week high of $273.68 on 05/27/22 and a 52-week low of $169.93 on 02/24/22. A 50-day SMA is recorded $224.55, while a 200-day SMA reached $227.65. Nevertheless, trading volume fell to 1.16 million shares from 1.35 million shares the previous day.

Support And Resistance Levels for Albemarle Corporation (ALB)

According to the 24-hour chart, there is a support level at 208.75, which, if violated, would cause prices to drop to 203.89. In the upper region, resistance lies at 219.04. The next price resistance is at 224.47. RSI (Relative Strength Index) is 41.87 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -14.58, which suggests the price will decrease in the coming days. Percent R is at 75.57%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Albemarle Corporation subject to short interest?

Stocks of Albemarle Corporation saw a sharp rise in short interest on May 30, 2022 jumping by 0.38 million shares to 1.87 million. Data from Yahoo Finance shows that the short interest on Apr 28, 2022 was 1.49 million shares. A jump of 20.32% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.12 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.12.

Which companies own the most shares of Albemarle Corporation (ALB)?

According to The Vanguard Group, Inc. filings, the company currently owns 13,202,975 shares, which is about 11.27% of the total ALB shares outstanding. The investor’s shares have appreciated by 87,581 from its previous 13-F filing of 13115394.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $1,529,613,589. SSgA Funds Management, Inc. acquire a 0.32% interest valued at $1.4 billion while Baillie Gifford & Co. sold a -372,838 stake. A total of -21,784 shares of Albemarle Corporation were sold by Franklin Advisers, Inc. during the quarter, and -44,260 were sold by PRIMECAP Management Co. In its current portfolio, Global X Management Co. LLC holds 2,567,187 shares valued at $668.55 million.

In terms of Albemarle Corporation share price expectations, FactSet research, analysts set an average price target of $287.14 in the next 12 months, up nearly 35.5% from the previous closing price of $216.24. Analysts anticipate Albemarle Corporation stock to reach $368.00 by 2022, with the lowest price target being $135.00. In spite of this, 24 analysts ranked Albemarle Corporation stock as an Overweight at the end of 2022. On December 15, 2021, Goldman assigned a price target of “a Sell” to the stock and downgraded coverage with a $205.

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