Albemarle (NYSE:ALB) Stock Price Down 3.7% – Time to Sell?

Shares of Albemarle Co. (NYSE:ALB) were down 3.7% during trading on Wednesday . The company traded as low as $104.87 and last traded at $105.00. Approximately 314,229 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 2,900,113 shares. The stock had previously closed at $109.07.

Analysts Set New Price Targets

ALB has been the subject of several recent analyst reports. Evercore ISI lowered their target price on Albemarle from $190.00 to $170.00 and set an “outperform” rating for the company in a research note on Wednesday, August 28th. Wells Fargo & Company raised their price objective on Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Robert W. Baird cut their target price on Albemarle from $85.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada increased their target price on Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft dropped 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. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $114.47.

Albemarle Trading Down 1.4 %

The firm has a market cap of $11.89 billion, a P/E ratio of -6.04 and a beta of 1.56. The firm has a fifty day moving average of $101.07 and a 200-day moving average of $97.97. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.62 annualized dividend and a dividend yield of 1.60%. Albemarle’s dividend payout ratio is currently -9.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Pathway Financial Advisers LLC increased its position in Albemarle by 9,108.7% in the 3rd quarter. Pathway Financial Advisers LLC now owns 574,805 shares of the specialty chemicals company’s stock valued at $54,440,000 after acquiring an additional 568,563 shares during the period. HB Wealth Management LLC grew its stake in shares of Albemarle by 115.7% in the second quarter. HB Wealth Management LLC now owns 542,200 shares of the specialty chemicals company’s stock worth $51,791,000 after purchasing an additional 290,862 shares in the last quarter. Charles Schwab Investment Management Inc. increased 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 purchasing an additional 282,194 shares during the period. FMR LLC raised its stake in shares of Albemarle by 67.3% during the third quarter. FMR LLC now owns 658,145 shares of the specialty chemicals company’s stock valued at $62,333,000 after purchasing an additional 264,756 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Albemarle by 7,667.4% in the third quarter. International Assets Investment Management LLC now owns 163,659 shares of the specialty chemicals company’s stock worth $155,000,000 after purchasing an additional 161,552 shares during the period. Institutional investors own 92.87% of the company’s stock.

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.