Quantinno Capital Management LP Raises Stake in Albemarle Co. (NYSE:ALB)

Quantinno Capital Management LP grew its position in Albemarle Co. (NYSE:ALB) by 1,041.8% 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 37,246 shares of the specialty chemicals company’s stock after purchasing an additional 33,984 shares during the quarter. Quantinno Capital Management LP’s holdings in Albemarle were worth $3,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC increased its stake in Albemarle by 239.7% in the 2nd quarter. SG Americas Securities LLC now owns 53,793 shares of the specialty chemicals company’s stock worth $5,138,000 after buying an additional 37,958 shares in the last quarter. Czech National Bank grew its position in shares of Albemarle by 8.5% during the second quarter. Czech National Bank now owns 22,395 shares of the specialty chemicals company’s stock worth $2,139,000 after purchasing an additional 1,747 shares in the last quarter. NorthCrest Asset Manangement LLC raised its stake in Albemarle by 2.6% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 36,002 shares of the specialty chemicals company’s stock valued at $3,439,000 after purchasing an additional 910 shares during the period. Legacy Trust lifted its holdings in Albemarle by 6.5% in the 2nd quarter. Legacy Trust now owns 37,068 shares of the specialty chemicals company’s stock worth $3,541,000 after purchasing an additional 2,254 shares in the last quarter. Finally, ORG Partners LLC boosted its stake in Albemarle by 2,142.1% in the 2nd quarter. ORG Partners LLC now owns 426 shares of the specialty chemicals company’s stock worth $42,000 after purchasing an additional 407 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Albemarle Price Performance

Shares of NYSE ALB opened at $104.96 on Monday. Albemarle Co. has a fifty-two week low of $71.97 and a fifty-two week 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 company has a market cap of $12.34 billion, a PE ratio of -6.27 and a beta of 1.56. The business has a 50-day simple moving average of $101.25 and a two-hundred day simple moving average of $97.39.

Albemarle Announces Dividend

The business 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 dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Friday, December 13th. Albemarle’s dividend payout ratio is presently -9.67%.

Analyst Upgrades and Downgrades

ALB has been the topic of several research analyst reports. KeyCorp lowered their target price on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Robert W. Baird dropped their price target on Albemarle from $85.00 to $79.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Royal Bank of Canada upped their price objective on Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft dropped their target price on Albemarle from $105.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Albemarle from $115.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $114.47.

Insider Buying and Selling at Albemarle

In other news, CEO J Kent Masters sold 2,525 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $101.12, for a total transaction of $255,328.00. Following the sale, the chief executive officer now directly owns 73,747 shares of the company’s stock, valued at $7,457,296.64. The trade was a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by company insiders.

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.