Private Advisor Group LLC decreased its holdings in shares of Albemarle Co. (NYSE:ALB) by 26.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,587 shares of the specialty chemicals company’s stock after selling 1,271 shares during the period. Private Advisor Group LLC’s holdings in Albemarle were worth $491,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thompson Davis & CO. Inc. raised its holdings in Albemarle by 650.0% during the third quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock worth $102,000 after buying an additional 650 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in Albemarle during the fourth quarter worth $103,000. Stephens Inc. AR acquired a new position in Albemarle during the fourth quarter worth $115,000. Renaissance Investment Group LLC purchased a new stake in shares of Albemarle in the fourth quarter valued at about $201,000. Finally, Glenview State Bank Trust DEPT. purchased a new stake in shares of Albemarle in the third quarter valued at about $204,000. Hedge funds and other institutional investors own 87.23% of the company’s stock.
Several analysts have recently commented on ALB shares. UBS Group upgraded shares of Albemarle from a “neutral” rating to a “buy” rating and increased their target price for the company from $113.00 to $150.00 in a report on Tuesday, January 30th. Jefferies Group lowered their target price on shares of Albemarle to $150.00 and set a “buy” rating for the company in a report on Friday, January 19th. Oppenheimer reiterated a “buy” rating on shares of Albemarle in a report on Wednesday, January 17th. Loop Capital set a $150.00 target price on shares of Albemarle and gave the company a “buy” rating in a report on Tuesday, December 19th. Finally, Argus started coverage on shares of Albemarle in a report on Friday. They issued a “buy” rating and a $148.00 target price for the company. Ten investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $129.79.
Albemarle Co. (NYSE:ALB) opened at $118.75 on Friday. The firm has a market cap of $13,121.40, a PE ratio of 29.39, a P/E/G ratio of 1.57 and a beta of 1.56. The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 0.35. Albemarle Co. has a 1 year low of $91.02 and a 1 year high of $144.99.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be given a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 1.13%. This is a positive change from Albemarle’s previous quarterly dividend of $0.32. Albemarle’s dividend payout ratio is presently 16.56%.
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Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.
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