Tidal Investments LLC Has $1.75 Million Position in Albemarle Co. (NYSE:ALB)

Tidal Investments LLC raised its stake in shares of Albemarle Co. (NYSE:ALB) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,457 shares of the specialty chemicals company’s stock after buying an additional 274 shares during the quarter. Tidal Investments LLC’s holdings in Albemarle were worth $1,748,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ALB. Pathway Financial Advisers LLC grew its position in shares of 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 purchasing an additional 568,563 shares during the period. HB Wealth Management LLC grew its position in shares of Albemarle by 115.7% in the 2nd quarter. HB Wealth Management LLC now owns 542,200 shares of the specialty chemicals company’s stock valued at $51,791,000 after purchasing an additional 290,862 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Albemarle by 38.2% in the 3rd 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 grew its position in shares of 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 period. Finally, International Assets Investment Management LLC grew its position in shares of Albemarle by 7,667.4% in the 3rd quarter. International Assets Investment Management LLC now owns 163,659 shares of the specialty chemicals company’s stock valued at $155,000,000 after purchasing an additional 161,552 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Stock Performance

Shares of NYSE ALB opened at $97.59 on Wednesday. The firm has a market cap of $11.47 billion, a price-to-earnings ratio of -5.83 and a beta of 1.56. Albemarle Co. has a one year low of $71.97 and a one year high of $153.54. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58. The stock’s fifty day moving average price is $101.91 and its two-hundred day moving average price is $96.27.

Albemarle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Friday, December 13th. 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 company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $101.12, for a total transaction of $255,328.00. Following the completion of the sale, the chief executive officer now directly owns 73,747 shares in the company, valued at $7,457,296.64. This represents a 3.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALB. Robert W. Baird decreased their price objective on Albemarle from $85.00 to $79.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Evercore ISI cut their target price on Albemarle from $190.00 to $170.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 28th. Royal Bank of Canada boosted 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. KeyCorp cut their target price on Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company boosted their target price on Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Albemarle has a consensus rating of “Hold” and an average target price of $114.47.

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.