22,680 Shares in Albemarle Co. (NYSE:ALB) Acquired by Beech Hill Advisors Inc.

Beech Hill Advisors Inc. bought a new stake in shares of Albemarle Co. (NYSE:ALB) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 22,680 shares of the specialty chemicals company’s stock, valued at approximately $1,952,000.

Several other large investors also recently bought and sold shares of the company. Primecap Management Co. CA raised its stake in Albemarle by 0.5% during the third quarter. Primecap Management Co. CA now owns 3,833,984 shares of the specialty chemicals company’s stock valued at $363,117,000 after buying an additional 20,930 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Albemarle by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,741,906 shares of the specialty chemicals company’s stock valued at $258,797,000 after acquiring an additional 14,874 shares in the last quarter. ProShare Advisors LLC lifted its stake in Albemarle by 10.2% during the second 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 last quarter. Dimensional Fund Advisors LP boosted its holdings in Albemarle by 2.3% in the second 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. Finally, Earnest Partners LLC increased its stake in Albemarle by 11.9% during 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 last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Trading Down 1.8 %

ALB stock traded down $1.75 during mid-day trading on Thursday, reaching $93.40. 83,421 shares of the stock traded hands, compared to its average volume of 1,879,439. Albemarle Co. has a 52-week low of $71.97 and a 52-week high of $143.19. The stock’s fifty day moving average is $98.38 and its 200-day moving average is $93.88. The company has a market cap of $10.98 billion, a P/E ratio of -5.58, a P/E/G ratio of 3.02 and a beta of 1.58. 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 announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.73%. The ex-dividend date was Friday, December 13th. Albemarle’s dividend payout ratio (DPR) is currently -9.67%.

Insider Activity

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the business’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 value of $255,328.00. Following the completion of the sale, the chief executive officer now directly owns 73,747 shares of the company’s stock, valued at $7,457,296.64. The trade was a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

ALB has been the topic of a number of recent research reports. Robert W. Baird raised their price target on shares of Albemarle from $79.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. Clarkson Capital initiated coverage on shares of Albemarle in a research note on Tuesday. They set a “buy” rating and a $112.00 target price for the company. Mizuho lowered their target price on Albemarle from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company raised their price target on Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Finally, Oppenheimer decreased their target price on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $115.65.

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.