Albemarle Co. (NYSE:ALB) Stock Holdings Lifted by Independent Advisor Alliance

Independent Advisor Alliance increased its holdings in Albemarle Co. (NYSE:ALB) by 15.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,550 shares of the specialty chemicals company’s stock after buying an additional 1,394 shares during the period. Independent Advisor Alliance’s holdings in Albemarle were worth $999,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Primecap Management Co. CA raised its position in shares of Albemarle by 0.5% during the 3rd quarter. Primecap Management Co. CA now owns 3,833,984 shares of the specialty chemicals company’s stock worth $363,117,000 after purchasing an additional 20,930 shares during the period. ProShare Advisors LLC increased its holdings in shares of Albemarle by 10.2% in 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 period. Dimensional Fund Advisors LP boosted its stake in Albemarle by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,311,331 shares of the specialty chemicals company’s stock valued at $125,264,000 after purchasing an additional 29,721 shares during the period. Earnest Partners LLC increased its stake in shares of Albemarle by 11.9% in the second quarter. Earnest Partners LLC now owns 1,198,730 shares of the specialty chemicals company’s stock valued at $114,503,000 after purchasing an additional 127,615 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Albemarle by 38.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,020,590 shares of the specialty chemicals company’s stock valued at $96,660,000 after buying an additional 282,194 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Albemarle Price Performance

NYSE ALB opened at $106.80 on Wednesday. Albemarle Co. has a 1 year low of $71.97 and a 1 year high of $153.54. The stock’s 50-day moving average price is $98.24 and its two-hundred day moving average price is $98.85. The company has a market cap of $12.55 billion, a PE ratio of -6.38 and a beta of 1.55. The company has a current ratio of 2.44, a quick ratio of 1.58 and a debt-to-equity ratio of 0.43.

Albemarle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a $0.405 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.62 annualized dividend and a dividend yield of 1.52%. Albemarle’s dividend payout ratio (DPR) is presently -9.67%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Royal Bank of Canada increased their price objective on Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Piper Sandler decreased their price target on Albemarle from $95.00 to $90.00 and set an “underweight” rating for the company in a research note on Thursday, August 8th. Oppenheimer reduced their price objective on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Wells Fargo & Company raised their target price on shares of Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Finally, KeyCorp reduced their price target on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. One equities research 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. Based on data from MarketBeat.com, Albemarle has an average rating of “Hold” and an average price target of $114.47.

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.