Albemarle Co. (NYSE:ALB) Short Interest Update

Albemarle Co. (NYSE:ALB) saw a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 12,340,000 shares, a decline of 9.5% from the October 31st total of 13,630,000 shares. Based on an average daily volume of 2,490,000 shares, the short-interest ratio is presently 5.0 days.

Wall Street Analysts Forecast Growth

ALB has been the subject of a number of research reports. Royal Bank of Canada raised their price target on shares of Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Baird R W lowered Albemarle from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 5th. Scotiabank decreased their price target on shares of Albemarle from $135.00 to $85.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Albemarle from $105.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. reduced their price objective on Albemarle from $115.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $114.47.

Institutional Trading of Albemarle

Several hedge funds have recently modified their holdings of the stock. First Community Trust NA bought a new position in shares of Albemarle during the 2nd quarter worth about $25,000. Quarry LP lifted its stake in Albemarle by 1,400.0% in the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 252 shares during the last quarter. CVA Family Office LLC increased its position in Albemarle by 610.0% in the second quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 244 shares during the last quarter. Eastern Bank bought a new stake in shares of Albemarle in the third quarter valued at $31,000. Finally, Cromwell Holdings LLC increased its holdings in Albemarle by 61.9% in the 3rd quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 148 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Albemarle Trading Down 2.0 %

ALB traded down $2.23 during trading on Tuesday, reaching $109.07. 1,477,858 shares of the stock traded hands, compared to its average volume of 2,911,551. The stock’s 50-day moving average is $100.26 and its 200 day moving average is $98.07. Albemarle has a 12 month low of $71.97 and a 12 month high of $153.54. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $12.82 billion, a PE ratio of -6.58 and a beta of 1.56.

Albemarle Announces Dividend

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