Oppenheimer Asset Management Inc. Has $325,000 Stock Holdings in Albemarle Co. (NYSE:ALB)

Oppenheimer Asset Management Inc. lessened its holdings in Albemarle Co. (NYSE:ALB) by 5.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,436 shares of the specialty chemicals company’s stock after selling 185 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Albemarle were worth $325,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC raised its position in shares of Albemarle by 239.7% in the 2nd quarter. SG Americas Securities LLC now owns 53,793 shares of the specialty chemicals company’s stock valued at $5,138,000 after acquiring an additional 37,958 shares during the period. Empower Advisory Group LLC lifted its stake in Albemarle by 28.7% in the third quarter. Empower Advisory Group LLC now owns 705,719 shares of the specialty chemicals company’s stock valued at $66,839,000 after buying an additional 157,319 shares in the last quarter. MBB Public Markets I LLC raised its holdings in shares of Albemarle by 392.6% during the second quarter. MBB Public Markets I LLC now owns 7,916 shares of the specialty chemicals company’s stock worth $756,000 after acquiring an additional 6,309 shares during the period. Vest Financial LLC boosted its stake in Albemarle by 32.4% in the 3rd quarter. Vest Financial LLC now owns 521,537 shares of the specialty chemicals company’s stock worth $49,395,000 after purchasing an additional 127,549 shares during the period. Finally, Clifford Swan Investment Counsel LLC raised its stake in shares of Albemarle by 8.0% in the 2nd quarter. Clifford Swan Investment Counsel LLC now owns 123,436 shares of the specialty chemicals company’s stock valued at $11,791,000 after purchasing an additional 9,182 shares during the period. 92.87% of the stock is owned by institutional investors.

Albemarle Stock Up 2.9 %

Shares of NYSE ALB opened at $109.55 on Thursday. Albemarle Co. has a 1 year low of $71.97 and a 1 year high of $153.54. The stock has a market capitalization of $12.88 billion, a P/E ratio of -6.54 and a beta of 1.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58. The company has a 50-day moving average price of $96.99 and a 200-day moving average price of $99.55.

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 issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Friday, December 13th. Albemarle’s dividend payout ratio is -9.67%.

Analysts Set New Price Targets

ALB has been the topic of a number of recent research reports. Bank of America lowered their price objective on shares of Albemarle from $135.00 to $126.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. cut their price objective on Albemarle from $115.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, August 19th. Berenberg Bank downgraded shares of Albemarle from a “buy” rating to a “hold” rating and decreased their price objective for the company from $160.00 to $83.00 in a research report on Wednesday, July 31st. Oppenheimer reduced their price target on Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, Evercore ISI decreased their target price on Albemarle from $190.00 to $170.00 and set an “outperform” rating on the stock in a report on Wednesday, August 28th. 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 company. Based on data from MarketBeat, the stock has a consensus 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.