Atria Investments Inc Buys 1,051 Shares of Albemarle Co. (NYSE:ALB)

Atria Investments Inc raised its stake in shares of Albemarle Co. (NYSE:ALB) by 25.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,216 shares of the specialty chemicals company’s stock after purchasing an additional 1,051 shares during the quarter. Atria Investments Inc’s holdings in Albemarle were worth $494,000 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 bought and sold shares of ALB. Farther Finance Advisors LLC raised its holdings 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 valued at $268,000 after buying an additional 102 shares in the last quarter. Foster Group Inc. raised its stake in shares of Albemarle by 4.1% during the second quarter. Foster Group Inc. now owns 3,047 shares of the specialty chemicals company’s stock worth $291,000 after acquiring an additional 120 shares in the last quarter. abrdn plc lifted its holdings in shares of Albemarle by 0.3% in the 3rd quarter. abrdn plc now owns 42,529 shares of the specialty chemicals company’s stock worth $4,031,000 after acquiring an additional 146 shares during the last quarter. Cromwell Holdings LLC boosted its stake in shares of 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 purchasing an additional 148 shares in the last quarter. Finally, FLC Capital Advisors grew its holdings in shares of Albemarle by 4.1% during the 2nd quarter. FLC Capital Advisors now owns 3,864 shares of the specialty chemicals company’s stock valued at $369,000 after purchasing an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Albemarle from $105.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 16th. Baird R W cut Albemarle from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th. Oppenheimer decreased their price target on Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Evercore ISI dropped their price objective on Albemarle from $190.00 to $170.00 and set an “outperform” rating for the company in a research note on Wednesday, August 28th. Finally, Wells Fargo & Company lifted their target price on shares of Albemarle from $100.00 to $110.00 and gave the stock 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 company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $114.47.

Albemarle Price Performance

Shares of NYSE ALB opened at $109.55 on Thursday. The company has a 50 day simple moving average of $96.99 and a two-hundred day simple moving average of $99.55. Albemarle Co. has a fifty-two week low of $71.97 and a fifty-two week high of $153.54. The company has a market capitalization of $12.88 billion, a price-to-earnings ratio of -6.54 and a beta of 1.55. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44.

Albemarle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.405 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.48%. Albemarle’s dividend payout ratio is currently -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.