1,499 Shares in Albemarle Co. (NYSE:ALB) Acquired by Brooklyn Investment Group

Brooklyn Investment Group purchased a new position in Albemarle Co. (NYSE:ALB) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,499 shares of the specialty chemicals company’s stock, valued at approximately $142,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Quantbot Technologies LP increased its holdings in Albemarle by 800.7% in the 3rd quarter. Quantbot Technologies LP now owns 16,617 shares of the specialty chemicals company’s stock worth $1,574,000 after buying an additional 14,772 shares during the period. FMR LLC increased its holdings in Albemarle by 67.3% in the 3rd quarter. FMR LLC now owns 658,145 shares of the specialty chemicals company’s stock worth $62,333,000 after buying an additional 264,756 shares during the period. The Manufacturers Life Insurance Company boosted its position in Albemarle by 26.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 99,375 shares of the specialty chemicals company’s stock worth $9,413,000 after purchasing an additional 20,988 shares in the last quarter. Mirabella Financial Services LLP boosted its position in Albemarle by 69.4% in the 3rd quarter. Mirabella Financial Services LLP now owns 6,824 shares of the specialty chemicals company’s stock worth $646,000 after purchasing an additional 2,795 shares in the last quarter. Finally, Independent Advisor Alliance boosted its position in Albemarle by 15.2% in the 3rd quarter. Independent Advisor Alliance now owns 10,550 shares of the specialty chemicals company’s stock worth $999,000 after purchasing an additional 1,394 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Baird R W lowered Albemarle from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 5th. Royal Bank of Canada upped their price objective on Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Evercore ISI lowered their price objective on Albemarle from $190.00 to $170.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 28th. Mizuho lowered their price objective on Albemarle from $128.00 to $103.00 in a research report on Wednesday, July 31st. Finally, Robert W. Baird lowered their price objective on Albemarle from $85.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $114.47.

Albemarle Trading Up 1.1 %

Shares of ALB stock opened at $107.95 on Thursday. The stock’s fifty day moving average is $98.58 and its two-hundred day moving average is $98.69. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44. The firm has a market capitalization of $12.69 billion, a P/E ratio of -6.44 and a beta of 1.55. Albemarle Co. has a fifty-two week low of $71.97 and a fifty-two week high of $153.54.

Albemarle Dividend Announcement

The company also recently disclosed 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 is Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a yield of 1.50%. Albemarle’s payout ratio is currently -9.67%.

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.