Retirement Systems of Alabama Increases Holdings in Albemarle Co. (NYSE:ALB)

Retirement Systems of Alabama boosted its position in Albemarle Co. (NYSE:ALB) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,098 shares of the specialty chemicals company’s stock after buying an additional 171 shares during the quarter. Retirement Systems of Alabama’s holdings in Albemarle were worth $2,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of ALB. Quarry LP boosted its stake in shares of Albemarle by 1,400.0% in the 3rd quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 252 shares in the last quarter. Eastern Bank bought a new stake in Albemarle in the third quarter worth $31,000. Cromwell Holdings LLC boosted its position in Albemarle by 61.9% during the third quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 148 shares during the period. TD Private Client Wealth LLC grew its stake in shares of Albemarle by 50.4% during the third quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 132 shares during the last quarter. Finally, Cornerstone Advisors LLC increased its holdings in shares of Albemarle by 100.0% in the third quarter. Cornerstone Advisors LLC now owns 400 shares of the specialty chemicals company’s stock worth $38,000 after buying an additional 200 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Albemarle Stock Down 0.3 %

Shares of NYSE:ALB opened at $88.65 on Friday. The firm has a market capitalization of $10.42 billion, a P/E ratio of -5.29 and a beta of 1.56. 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 stock has a 50 day moving average price of $101.40 and a 200-day moving average price of $96.18. Albemarle Co. has a 52-week low of $71.97 and a 52-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 1.83%. Albemarle’s dividend payout ratio (DPR) is -9.67%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALB. Wells Fargo & Company increased their target price on Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Robert W. Baird increased their price objective on Albemarle from $79.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday. Evercore ISI decreased their target price on shares of Albemarle from $190.00 to $170.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 28th. Oppenheimer lowered their price target 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. Finally, Royal Bank of Canada raised their price target on shares of Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. One investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $115.74.

Insider Buying and Selling at Albemarle

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $101.12, for a total transaction of $255,328.00. Following the completion of the transaction, the chief executive officer now owns 73,747 shares of the company’s stock, valued at approximately $7,457,296.64. This trade represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.38% of the company’s stock.

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.