Albemarle Co. (NYSE:ALB) Stock Holdings Increased by Prudent Man Advisors LLC

Prudent Man Advisors LLC grew its holdings in shares of Albemarle Co. (NYSE:ALB) by 48.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 4,988 shares of the specialty chemicals company’s stock after acquiring an additional 1,620 shares during the quarter. Prudent Man Advisors LLC’s holdings in Albemarle were worth $472,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ALB. Primecap Management Co. CA lifted its holdings in Albemarle by 2.4% in the second quarter. Primecap Management Co. CA now owns 3,813,054 shares of the specialty chemicals company’s stock worth $364,223,000 after purchasing an additional 87,970 shares during the period. Jane Street Group LLC boosted its holdings in shares of Albemarle by 176.6% in the first quarter. Jane Street Group LLC now owns 1,588,986 shares of the specialty chemicals company’s stock valued at $209,333,000 after acquiring an additional 3,662,117 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Albemarle by 10.2% during the second quarter. ProShare Advisors LLC now owns 1,568,602 shares of the specialty chemicals company’s stock valued at $149,833,000 after acquiring an additional 144,705 shares during the period. Dimensional Fund Advisors LP raised its holdings in Albemarle by 2.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,311,331 shares of the specialty chemicals company’s stock worth $125,264,000 after purchasing an additional 29,721 shares in the last quarter. Finally, Earnest Partners LLC lifted its position in Albemarle by 11.9% in the second quarter. Earnest Partners LLC now owns 1,198,730 shares of the specialty chemicals company’s stock worth $114,503,000 after purchasing an additional 127,615 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Albemarle Trading Up 1.4 %

Albemarle stock opened at $103.53 on Monday. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. Albemarle Co. has a 12 month low of $71.97 and a 12 month high of $153.54. The company’s fifty day simple moving average is $95.52 and its 200-day simple moving average is $99.79. The stock has a market cap of $12.17 billion, a P/E ratio of -6.18 and a beta of 1.55.

Albemarle Announces Dividend

The company also recently announced 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. This represents a $1.62 annualized dividend and a yield of 1.56%. The ex-dividend date is Friday, December 13th. Albemarle’s payout ratio is currently -9.67%.

Analysts Set New Price Targets

ALB has been the topic of several research analyst reports. Mizuho lowered their price target on Albemarle from $128.00 to $103.00 in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their target price on Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Robert W. Baird cut their price target on shares of Albemarle from $85.00 to $79.00 and set a “neutral” rating for the company in a report on Friday, October 25th. KeyCorp lowered their price objective on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Finally, Piper Sandler cut their target price on shares of Albemarle from $95.00 to $90.00 and set an “underweight” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $114.47.

Albemarle 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.