Albemarle (NYSE:ALB) Shares Gap Down – Time to Sell?

Albemarle Co. (NYSE:ALB) gapped down prior to trading on Thursday . The stock had previously closed at $109.55, but opened at $107.01. Albemarle shares last traded at $108.24, with a volume of 256,773 shares changing hands.

Analyst Ratings Changes

ALB has been the subject of several analyst reports. Scotiabank decreased their target price on Albemarle from $135.00 to $85.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 6th. Baird R W cut Albemarle from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 5th. Bank of America decreased their price target on Albemarle from $135.00 to $126.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Wells Fargo & Company boosted their price objective on shares of Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Albemarle from $105.00 to $80.00 and set a “hold” rating on the stock in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Albemarle has a consensus rating of “Hold” and an average target price of $114.47.

Albemarle Stock Performance

The business has a fifty day moving average of $96.99 and a 200 day moving average of $99.55. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43.

Albemarle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.405 per share. The ex-dividend date is Friday, December 13th. This represents a $1.62 annualized dividend and a dividend yield of 1.48%. Albemarle’s dividend payout ratio (DPR) is presently -9.67%.

Institutional Investors Weigh In On Albemarle

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Primecap Management Co. CA raised its position in shares of Albemarle by 0.5% in the third quarter. Primecap Management Co. CA now owns 3,833,984 shares of the specialty chemicals company’s stock valued at $363,117,000 after purchasing an additional 20,930 shares during the period. Geode Capital Management LLC grew its stake in Albemarle by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,741,906 shares of the specialty chemicals company’s stock valued at $258,797,000 after buying an additional 14,874 shares during the last quarter. Jane Street Group LLC raised its holdings in Albemarle by 176.6% in the 1st quarter. Jane Street Group LLC now owns 1,588,986 shares of the specialty chemicals company’s stock worth $209,333,000 after acquiring an additional 3,662,117 shares during the period. ProShare Advisors LLC lifted its position in Albemarle by 10.2% during the 2nd quarter. ProShare Advisors LLC now owns 1,568,602 shares of the specialty chemicals company’s stock worth $149,833,000 after acquiring an additional 144,705 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Albemarle by 2.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,311,331 shares of the specialty chemicals company’s stock valued at $125,264,000 after acquiring an additional 29,721 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

About Albemarle

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.