4,274 Shares in Albemarle Co. (NYSE:ALB) Purchased by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. acquired a new stake in shares of Albemarle Co. (NYSE:ALB) in the third quarter, HoldingsChannel.com reports. The firm acquired 4,274 shares of the specialty chemicals company’s stock, valued at approximately $410,000.

Several other large investors have also bought and sold shares of ALB. Farther Finance Advisors LLC increased its position in shares of Albemarle by 3.7% during the third quarter. Farther Finance Advisors LLC now owns 2,832 shares of the specialty chemicals company’s stock valued at $268,000 after acquiring an additional 102 shares in the last quarter. Foster Group Inc. boosted its stake in Albemarle by 4.1% during the 2nd quarter. Foster Group Inc. now owns 3,047 shares of the specialty chemicals company’s stock valued at $291,000 after purchasing an additional 120 shares during the last quarter. abrdn plc increased 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 worth $4,031,000 after purchasing an additional 146 shares in the last quarter. Moser Wealth Advisors LLC raised its stake 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 worth $277,000 after purchasing an additional 146 shares during the last quarter. Finally, Cromwell Holdings LLC lifted its holdings in shares of Albemarle by 61.9% during the third quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 148 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Albemarle Price Performance

NYSE:ALB opened at $99.38 on Friday. The business’s 50-day simple moving average is $102.06 and its two-hundred day simple moving average is $96.81. Albemarle Co. has a 52 week low of $71.97 and a 52 week high of $153.54. The stock has a market cap of $11.68 billion, a PE ratio of -5.93 and a beta of 1.56. 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 Announces Dividend

The firm 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 of this dividend is Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a yield of 1.63%. Albemarle’s dividend payout ratio is presently -9.67%.

Analysts Set New Price Targets

Several research firms recently commented on ALB. Robert W. Baird reduced their price objective on Albemarle from $85.00 to $79.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Royal Bank of Canada lifted their price target on shares of Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. lowered their price objective on shares of Albemarle from $115.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Oppenheimer cut their target price on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Evercore ISI lowered their price target 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 assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $114.47.

Insiders Place Their Bets

In other news, CEO J Kent Masters sold 2,525 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $101.12, for a total value of $255,328.00. Following the transaction, the chief executive officer now owns 73,747 shares of the company’s stock, valued at approximately $7,457,296.64. The trade was a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

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.