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 $605,228 were sold by NARWOLD KAREN G on Sep 06. At $268.99 per share, NARWOLD KAREN G sold 2,250 shares. The insider’s holdings dropped to 15,944 shares worth approximately $4.34 million following the completion of this transaction.
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Also, Crawford Raphael Goszcz sold 17,968 shares, netting a total of over 4,135,624 in proceeds. Following the sale of shares at $230.17 each, the insider now holds 7,946 shares.
Before that, Johnson Netha N. had added 1,060 shares to its account. In a trade valued at $199,074, the President, Bromine Specialties bought Albemarle Corporation shares for $187.81 each. Upon closing the transaction, the insider’s holdings increased to 1,060 shares, worth approximately $1.99 million.
As published in a research note from KeyBanc Capital Markets on July 20, 2022, Albemarle Corporation [ALB] has been rated up from an Underweight to a Sector weight. Analysts at Credit Suisse started covering the stock with ‘”an Underperform”‘ outlook in a report released in late June. As of June 02, 2022, UBS has decreased its “Buy” rating to a “Neutral” for ALB. Earlier on May 12, 2022, Wells Fargo upgraded its rating. Their new recommendation was “an Overweight” for ALB stock which previously was a “an Equal weight”.
Analyzing ALB’s Price Performance
On Thursday, Albemarle Corporation [NYSE: ALB] plunged -4.52% to $272.15. The stock’s lowest price that day was $270.74, but it reached a high of $289.87 in the same session. During the last five days, there has been a drop of approximately -5.09%. Over the course of the year, Albemarle Corporation shares have jumped approximately 16.42%. Shares of the company reached a 52-week high of $308.24 on 09/14/22 and a 52-week low of $169.93 on 02/24/22. A 50-day SMA is recorded $261.16, while a 200-day SMA reached $229.44. Nevertheless, trading volume fell to 1.57 million shares from 0.9 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 265.30, which, if violated, would cause prices to drop to 258.46. In the upper region, resistance lies at 284.43. The next price resistance is at 296.72. RSI (Relative Strength Index) is 46.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.21, which suggests the price will decrease in the coming days. Percent R is at 71.51%, 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 Jul 14, 2022 jumping by 100000.0 shares to 2.16 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.06 million shares. A jump of 4.63% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.56 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.56.
Which companies own the most shares of Albemarle Corporation (ALB)?
According to The Vanguard Group, Inc. filings, the company currently owns 13,298,490 shares, which is about 11.35% of the total ALB shares outstanding. The investor’s shares have appreciated by 95,515 from its previous 13-F filing of 13202975.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $1,529,182,874. SSgA Funds Management, Inc. reduced a -1.19% interest valued at $1.42 billion while Baillie Gifford & Co. sold a -159,402 stake. A total of 3,322,014 shares of Albemarle Corporation were sold by Capital Research & Management Co during the quarter, and 1,328,131 were bought by Capital Research & Management Co. In its current portfolio, PRIMECAP Management Co. holds 2,549,320 shares valued at $683.12 million.
In terms of Albemarle Corporation share price expectations, FactSet research, analysts set an average price target of $306.99 in the next 12 months, up nearly 5.25% from the previous closing price of $285.03. Analysts anticipate Albemarle Corporation stock to reach $440.00 by 2022, with the lowest price target being $145.00. In spite of this, 25 analysts ranked Albemarle Corporation stock as an Overweight at the end of 2022.