Mirabella Financial Services LLP Has $646,000 Stake in Albemarle Co. (NYSE:ALB)

Mirabella Financial Services LLP boosted its holdings in Albemarle Co. (NYSE:ALB) by 69.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,824 shares of the specialty chemicals company’s stock after acquiring an additional 2,795 shares during the quarter. Mirabella Financial Services LLP’s holdings in Albemarle were worth $646,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. First Community Trust NA acquired a new position in shares of Albemarle in the 2nd quarter valued at $25,000. CVA Family Office LLC lifted its stake in Albemarle by 610.0% in the second quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 244 shares during the period. Eastern Bank bought a new position in Albemarle during the third quarter worth about $31,000. Cromwell Holdings LLC increased its stake in shares of Albemarle by 61.9% in the 3rd 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 during the last quarter. Finally, Cornerstone Advisors LLC raised its position in shares of Albemarle by 100.0% in the 3rd quarter. Cornerstone Advisors LLC now owns 400 shares of the specialty chemicals company’s stock valued at $38,000 after acquiring an additional 200 shares during the period. 92.87% of the stock is owned by institutional investors.

Albemarle Stock Up 1.5 %

Shares of ALB stock opened at $109.98 on Tuesday. The firm’s fifty day moving average price is $98.24 and its two-hundred day moving average price is $98.85. 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 $153.54. The firm has a market capitalization of $12.93 billion, a P/E ratio of -6.57 and a beta of 1.55.

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 given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, December 13th. Albemarle’s dividend payout ratio is currently -9.67%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. KeyCorp lowered their price objective on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. JPMorgan Chase & Co. reduced their target price on Albemarle from $115.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. Mizuho lowered their price target on Albemarle from $128.00 to $103.00 in a report on Wednesday, July 31st. Finally, Evercore ISI cut their price objective on Albemarle from $190.00 to $170.00 and set an “outperform” rating on the stock in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Albemarle presently has an average rating of “Hold” and an average price target 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.