Signature Estate & Investment Advisors LLC Makes New Investment in Albemarle Co. (NYSE:ALB)

Signature Estate & Investment Advisors LLC acquired a new stake in shares of Albemarle Co. (NYSE:ALB) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,328 shares of the specialty chemicals company’s stock, valued at approximately $220,000.

Several other large investors also recently bought and sold shares of ALB. Primecap Management Co. CA boosted its holdings in shares of Albemarle by 2.4% during the 2nd quarter. Primecap Management Co. CA now owns 3,813,054 shares of the specialty chemicals company’s stock valued at $364,223,000 after acquiring an additional 87,970 shares during the last quarter. Jane Street Group LLC grew its position in Albemarle by 176.6% in the 1st quarter. Jane Street Group LLC now owns 1,588,986 shares of the specialty chemicals company’s stock worth $209,333,000 after purchasing an additional 3,662,117 shares during the period. ProShare Advisors LLC raised its stake in Albemarle by 10.2% during the 2nd quarter. ProShare Advisors LLC now owns 1,568,602 shares of the specialty chemicals company’s stock valued at $149,833,000 after buying an additional 144,705 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Albemarle by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,311,331 shares of the specialty chemicals company’s stock valued at $125,264,000 after buying an additional 29,721 shares during the period. Finally, Earnest Partners LLC boosted its stake 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 buying an additional 127,615 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ALB shares. KeyCorp lowered their target price on Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Bank of America dropped their price objective on shares of Albemarle from $135.00 to $126.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Baird R W cut shares of Albemarle from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th. Mizuho dropped their price target on shares of Albemarle from $128.00 to $103.00 in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada upped their price objective on Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $114.47.

Albemarle Trading Up 1.4 %

ALB stock opened at $103.53 on Friday. The company has a market capitalization of $12.17 billion, a price-to-earnings ratio of -6.18 and a beta of 1.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58. Albemarle Co. has a 1-year low of $71.97 and a 1-year high of $153.54. The business has a 50 day simple moving average of $95.52 and a two-hundred day simple moving average of $99.92.

Albemarle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a dividend of $0.405 per share. The ex-dividend date is Friday, December 13th. This represents a $1.62 annualized dividend and a yield of 1.56%. Albemarle’s payout ratio is -9.67%.

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.