Cornerstone Advisors LLC Has $38,000 Stock Holdings in Albemarle Co. (NYSE:ALB)

Cornerstone Advisors LLC increased its holdings in shares of Albemarle Co. (NYSE:ALB) by 100.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 400 shares of the specialty chemicals company’s stock after buying an additional 200 shares during the quarter. Cornerstone Advisors LLC’s holdings in Albemarle were worth $38,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ALB. First Community Trust NA bought a new stake in shares of Albemarle in the 2nd quarter valued at $25,000. CVA Family Office LLC boosted its holdings in Albemarle by 610.0% during the 2nd quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 244 shares during the last quarter. Eastern Bank bought a new stake in Albemarle in the 3rd quarter worth about $31,000. Cromwell Holdings LLC grew its holdings in shares of Albemarle by 61.9% in the third quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 148 shares in the last quarter. Finally, ORG Partners LLC increased its position in shares of Albemarle by 2,142.1% during the 2nd quarter. ORG Partners LLC now owns 426 shares of the specialty chemicals company’s stock valued at $42,000 after purchasing an additional 407 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Trading Down 0.4 %

ALB stock opened at $109.09 on Friday. The firm has a market cap of $12.82 billion, a P/E ratio of -6.51 and a beta of 1.55. The company’s 50-day simple moving average is $97.41 and its 200-day simple moving average is $99.62. 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 52-week low of $71.97 and a 52-week high of $153.54.

Albemarle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.405 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.62 annualized dividend and a dividend yield of 1.49%. Albemarle’s dividend payout ratio is presently -9.67%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. KeyCorp decreased their price target on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Evercore ISI lowered their target price on shares of Albemarle from $190.00 to $170.00 and set an “outperform” rating on the stock in a report on Wednesday, August 28th. Mizuho cut their price target on Albemarle from $128.00 to $103.00 in a report on Wednesday, July 31st. Scotiabank decreased their price objective on Albemarle from $135.00 to $85.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 6th. Finally, Berenberg Bank cut Albemarle from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $160.00 to $83.00 in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Albemarle has an average rating of “Hold” and an average target price of $114.47.

About Albemarle

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.