GAMMA Investing LLC Has $202,000 Stock Position in Albemarle Co. (NYSE:ALB)

GAMMA Investing LLC lifted its holdings in Albemarle Co. (NYSE:ALB) by 70.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,347 shares of the specialty chemicals company’s stock after purchasing an additional 969 shares during the period. GAMMA Investing LLC’s holdings in Albemarle were worth $202,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in shares of Albemarle by 3.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,832 shares of the specialty chemicals company’s stock worth $268,000 after acquiring an additional 102 shares in the last quarter. TD Private Client Wealth LLC raised its position in shares of Albemarle by 50.4% in the third quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 132 shares during the period. abrdn plc lifted its stake in shares of Albemarle by 0.3% in the third quarter. abrdn plc now owns 42,529 shares of the specialty chemicals company’s stock worth $4,031,000 after buying an additional 146 shares during the last quarter. Moser Wealth Advisors LLC boosted its holdings in shares of Albemarle by 5.3% during the 3rd quarter. Moser Wealth Advisors LLC now owns 2,925 shares of the specialty chemicals company’s stock worth $277,000 after buying an additional 146 shares during the period. Finally, Cromwell Holdings LLC grew its stake in Albemarle by 61.9% in the 3rd quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 148 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Albemarle Stock Performance

Shares of NYSE:ALB opened at $90.01 on Wednesday. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of -5.37 and a beta of 1.58. The business’s fifty day moving average price is $99.28 and its two-hundred day moving average price is $94.12. Albemarle Co. has a fifty-two week low of $71.97 and a fifty-two week high of $143.19. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.80%. The ex-dividend date was Friday, December 13th. Albemarle’s dividend payout ratio is currently -9.67%.

Insider Buying and Selling at Albemarle

In other news, CEO J Kent Masters sold 2,525 shares of Albemarle stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $101.12, for a total value of $255,328.00. Following the completion of the transaction, the chief executive officer now owns 73,747 shares in the company, valued at approximately $7,457,296.64. The trade was a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ALB. Wells Fargo & Company boosted their target price on shares of Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Oppenheimer decreased their target price on Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Royal Bank of Canada lifted their price target on Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Mizuho cut their price target on Albemarle from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Robert W. Baird raised their price objective on shares of Albemarle from $79.00 to $103.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $115.84.

Albemarle Company 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.