7,858 Shares in Albemarle Co. (NYSE:ALB) Acquired by CFS Investment Advisory Services LLC

CFS Investment Advisory Services LLC acquired a new position in Albemarle Co. (NYSE:ALB) in the third quarter, Holdings Channel reports. The fund acquired 7,858 shares of the specialty chemicals company’s stock, valued at approximately $744,000.

A number of other large investors also recently bought and sold shares of ALB. First Community Trust NA purchased a new position in Albemarle in the second quarter worth $25,000. CVA Family Office LLC grew its holdings in Albemarle by 610.0% in the second quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 244 shares during the last quarter. Eastern Bank purchased a new position in Albemarle in the third quarter worth $31,000. Cromwell Holdings LLC grew its holdings in Albemarle by 61.9% in the third quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 148 shares during the last quarter. Finally, Cornerstone Advisors LLC grew its holdings in Albemarle by 100.0% in the third quarter. Cornerstone Advisors LLC now owns 400 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Piper Sandler cut their price target on shares of Albemarle from $95.00 to $90.00 and set an “underweight” rating on the stock in a report on Thursday, August 8th. Oppenheimer dropped their price objective on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Wells Fargo & Company boosted their price objective on shares of Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Mizuho dropped their price objective on shares of Albemarle from $128.00 to $103.00 in a report on Wednesday, July 31st. Finally, Evercore ISI dropped their price objective on shares of Albemarle from $190.00 to $170.00 and set an “outperform” rating on the stock in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Albemarle currently has an average rating of “Hold” and an average target price of $114.47.

Albemarle Price Performance

NYSE:ALB opened at $108.38 on Friday. Albemarle Co. has a one year low of $71.97 and a one year high of $153.54. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44. The firm has a market cap of $12.74 billion, a price-to-earnings ratio of -6.47 and a beta of 1.55. The firm’s fifty day moving average is $97.82 and its two-hundred day moving average is $99.46.

Albemarle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.405 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.49%. Albemarle’s dividend payout ratio (DPR) is currently -9.67%.

About Albemarle

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.