BNP Paribas Has $846,000 Position in Albemarle Co. (NYSE:ALB)

BNP Paribas reduced its stake in Albemarle Co. (NYSE:ALB) by 3.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,934 shares of the specialty chemicals company’s stock after selling 277 shares during the period. BNP Paribas’ holdings in Albemarle were worth $846,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Primecap Management Co. CA boosted its position in 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 buying an additional 20,930 shares during the period. ProShare Advisors LLC lifted its position 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 purchasing an additional 144,705 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Albemarle by 2.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,311,331 shares of the specialty chemicals company’s stock worth $125,264,000 after purchasing an additional 29,721 shares during the period. Earnest Partners LLC lifted its position in shares of Albemarle by 11.9% in the 2nd quarter. Earnest Partners LLC now owns 1,198,730 shares of the specialty chemicals company’s stock worth $114,503,000 after purchasing an additional 127,615 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Albemarle by 38.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,020,590 shares of the specialty chemicals company’s stock worth $96,660,000 after purchasing an additional 282,194 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Price Performance

ALB opened at $107.95 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58. The company has a market capitalization of $12.69 billion, a price-to-earnings ratio of -6.44 and a beta of 1.55. The firm’s fifty day moving average price is $98.58 and its two-hundred day moving average price is $98.69. Albemarle Co. has a 1 year low of $71.97 and a 1 year 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 dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Friday, December 13th. Albemarle’s dividend payout ratio is -9.67%.

Analyst Ratings Changes

ALB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Albemarle from $115.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. KeyCorp dropped their price target on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Berenberg Bank downgraded shares of Albemarle from a “buy” rating to a “hold” rating and dropped their price target for the stock from $160.00 to $83.00 in a research report on Wednesday, July 31st. Scotiabank lowered their price objective on shares of Albemarle from $135.00 to $85.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 6th. Finally, Piper Sandler lowered their price objective on shares of Albemarle from $95.00 to $90.00 and set an “underweight” rating for the company in a research note on Thursday, August 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 stock. According to data from MarketBeat, Albemarle presently has a consensus rating of “Hold” and a consensus target price 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.