Albemarle Co. (NYSE:ALB) Shares Sold by Clear Creek Financial Management LLC

Clear Creek Financial Management LLC lessened its holdings in Albemarle Co. (NYSE:ALB) by 5.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,384 shares of the specialty chemicals company’s stock after selling 196 shares during the quarter. Clear Creek Financial Management LLC’s holdings in Albemarle were worth $321,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in Albemarle by 3.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,832 shares of the specialty chemicals company’s stock worth $268,000 after purchasing an additional 102 shares during the last quarter. Eagle Bay Advisors LLC lifted its holdings in Albemarle by 45.0% in the 1st quarter. Eagle Bay Advisors LLC now owns 332 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 103 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in Albemarle by 4.6% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 2,655 shares of the specialty chemicals company’s stock worth $350,000 after purchasing an additional 116 shares during the last quarter. Foster Group Inc. lifted its holdings in Albemarle by 4.1% in the 2nd quarter. Foster Group Inc. now owns 3,047 shares of the specialty chemicals company’s stock worth $291,000 after purchasing an additional 120 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its holdings in Albemarle by 3.3% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,309 shares of the specialty chemicals company’s stock worth $568,000 after purchasing an additional 137 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Piper Sandler reduced their target price on Albemarle from $95.00 to $90.00 and set an “underweight” rating for the company in a report on Thursday, August 8th. HSBC lowered Albemarle from a “buy” rating to a “hold” rating and set a $95.00 price target for the company. in a report on Wednesday, July 17th. Evercore ISI cut their price target on Albemarle from $190.00 to $170.00 and set an “outperform” rating for the company in a report on Wednesday, August 28th. Scotiabank cut their price target on Albemarle from $135.00 to $85.00 and set a “sector perform” rating for the company in a report on Tuesday, August 6th. Finally, Citigroup cut their price target on Albemarle from $137.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $117.30.

Albemarle Trading Up 2.4 %

Shares of Albemarle stock opened at $100.57 on Tuesday. The stock has a market capitalization of $11.82 billion, a P/E ratio of -21.26 and a beta of 1.55. The company has a quick ratio of 1.75, a current ratio of 2.67 and a debt-to-equity ratio of 0.38. The company has a 50-day simple moving average of $92.35 and a 200 day simple moving average of $100.75. Albemarle Co. has a 12-month low of $71.97 and a 12-month high of $153.54.

Albemarle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, December 13th. Albemarle’s dividend payout ratio (DPR) is currently -34.25%.

Albemarle Company Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.