Rosenberg Matthew Hamilton Has $85,000 Stake in Albemarle Co. (NYSE:ALB)

Rosenberg Matthew Hamilton cut its stake in Albemarle Co. (NYSE:ALB) by 13.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 983 shares of the specialty chemicals company’s stock after selling 152 shares during the period. Rosenberg Matthew Hamilton’s holdings in Albemarle were worth $85,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its holdings in shares of Albemarle by 3.7% in the third quarter. Farther Finance Advisors LLC now owns 2,832 shares of the specialty chemicals company’s stock valued at $268,000 after purchasing an additional 102 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Albemarle by 50.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 132 shares during the last quarter. abrdn plc grew its holdings in shares of Albemarle by 0.3% in the 3rd quarter. abrdn plc now owns 42,529 shares of the specialty chemicals company’s stock valued at $4,031,000 after acquiring an additional 146 shares in the last quarter. Moser Wealth Advisors LLC increased its position in shares of Albemarle by 5.3% in the third quarter. Moser Wealth Advisors LLC now owns 2,925 shares of the specialty chemicals company’s stock valued at $277,000 after acquiring an additional 146 shares during the last quarter. Finally, Cromwell Holdings LLC raised its holdings in Albemarle by 61.9% during the third quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 148 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALB has been the subject of a number of analyst reports. Robert W. Baird raised their price target on Albemarle from $79.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Clarkson Capital started coverage on shares of Albemarle in a research note on Tuesday. They issued a “buy” rating and a $112.00 target price for the company. Oppenheimer dropped their price target 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. Royal Bank of Canada lifted their price objective on shares of Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, KeyCorp lowered their price objective on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock 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 seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $115.65.

Albemarle Stock Performance

NYSE ALB opened at $92.71 on Wednesday. The firm’s 50 day simple moving average is $98.55 and its 200 day simple moving average is $93.89. The firm has a market capitalization of $10.90 billion, a price-to-earnings ratio of -5.53 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 Co. has a 1 year low of $71.97 and a 1 year high of $143.19.

Albemarle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend was Friday, December 13th. Albemarle’s payout ratio is -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 stock was 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 directly owns 73,747 shares of the company’s stock, valued at $7,457,296.64. This trade represents a 3.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.38% of the company’s stock.

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.