Daymark Wealth Partners LLC Sells 341 Shares of Albemarle Co. (NYSE:ALB)

Daymark Wealth Partners LLC reduced its stake in Albemarle Co. (NYSE:ALB) by 12.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,459 shares of the specialty chemicals company’s stock after selling 341 shares during the period. Daymark Wealth Partners LLC’s holdings in Albemarle were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ALB. Primecap Management Co. CA boosted its position in Albemarle by 0.5% in 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 boosted its holdings in shares of Albemarle by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,741,906 shares of the specialty chemicals company’s stock worth $258,797,000 after acquiring an additional 14,874 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Albemarle by 38.2% during 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 acquiring an additional 282,194 shares during the last quarter. Empower Advisory Group LLC increased its holdings in Albemarle by 28.7% during the 3rd quarter. Empower Advisory Group LLC now owns 705,719 shares of the specialty chemicals company’s stock valued at $66,839,000 after purchasing an additional 157,319 shares in the last quarter. Finally, FMR LLC raised its position in Albemarle by 67.3% in the 3rd 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 during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ALB. Royal Bank of Canada raised 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. Wells Fargo & Company raised their price objective on shares of Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Oppenheimer reduced their target price on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Mizuho lowered their price target on shares of Albemarle from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Clarkson Capital assumed coverage on Albemarle in a report on Tuesday, January 14th. They set a “buy” rating and a $112.00 price objective on the stock. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $115.65.

Albemarle Trading Down 1.2 %

Shares of NYSE ALB opened at $88.71 on Friday. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. Albemarle Co. has a twelve month low of $71.97 and a twelve month high of $143.19. The company’s fifty day moving average is $96.87 and its 200-day moving average is $93.64. The stock has a market cap of $10.43 billion, a price-to-earnings ratio of -5.30, a P/E/G ratio of 3.19 and a beta of 1.58.

Albemarle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a $0.405 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.62 annualized dividend and a dividend yield of 1.83%. Albemarle’s dividend payout ratio (DPR) is currently -9.67%.

Insider Transactions at Albemarle

In related news, CEO J Kent Masters sold 2,525 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 73,747 shares in the company, valued at $7,457,296.64. This trade represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.38% of the stock is currently owned by insiders.

Albemarle 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.