Mutual of America Capital Management LLC Lowers Stake in Albemarle Co. (NYSE:ALB)

Mutual of America Capital Management LLC trimmed its holdings in Albemarle Co. (NYSE:ALB) by 2.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 14,472 shares of the specialty chemicals company’s stock after selling 348 shares during the period. Mutual of America Capital Management LLC’s holdings in Albemarle were worth $1,371,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. First Community Trust NA acquired a new position in Albemarle in the 2nd quarter valued at about $25,000. CVA Family Office LLC increased its holdings in shares of Albemarle by 610.0% in the second quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 244 shares during the period. Eastern Bank acquired a new position in shares of Albemarle in the third quarter valued at approximately $31,000. Cromwell Holdings LLC raised its stake in shares of Albemarle by 61.9% during 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, ORG Partners LLC lifted its holdings in shares of Albemarle by 2,142.1% during the second 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.

Analyst Ratings Changes

A number of equities analysts have commented on ALB shares. Berenberg Bank downgraded shares of Albemarle from a “buy” rating to a “hold” rating and cut their price objective for the stock from $160.00 to $83.00 in a research report on Wednesday, July 31st. Piper Sandler reduced their price objective on shares of Albemarle from $95.00 to $90.00 and set an “underweight” rating for the company in a research report on Thursday, August 8th. Bank of America lowered their price objective on Albemarle from $135.00 to $126.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Baird R W downgraded Albemarle from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company lifted their price target on Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $114.47.

Albemarle Stock Up 1.5 %

ALB stock opened at $109.98 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58. Albemarle Co. has a 12 month low of $71.97 and a 12 month high of $153.54. The firm has a market capitalization of $12.93 billion, a PE ratio of -6.57 and a beta of 1.55. The company’s 50 day simple moving average is $98.24 and its 200-day simple moving average is $98.85.

Albemarle Dividend Announcement

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 issued a $0.405 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a yield of 1.47%. Albemarle’s dividend payout ratio (DPR) is -9.67%.

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.