Daiwa Securities Group Inc. Has $2.07 Million Stock Holdings in Albemarle Co. (NYSE:ALB)

Daiwa Securities Group Inc. raised its holdings in Albemarle Co. (NYSE:ALB) by 2.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,810 shares of the specialty chemicals company’s stock after acquiring an additional 495 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Albemarle were worth $2,066,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. First Community Trust NA acquired a new stake in shares of Albemarle in the second quarter worth $25,000. CVA Family Office LLC lifted its stake in shares of 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 acquired a new stake in shares of Albemarle in the third quarter worth $31,000. Cromwell Holdings LLC lifted its stake 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 worth $37,000 after buying an additional 148 shares during the last quarter. Finally, Cornerstone Advisors LLC lifted its stake in shares of Albemarle by 100.0% in the third quarter. Cornerstone Advisors LLC now owns 400 shares of the specialty chemicals company’s stock worth $38,000 after buying an additional 200 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Stock Up 1.1 %

ALB opened at $107.98 on Friday. The firm’s 50-day simple moving average is $99.00 and its 200-day simple moving average is $98.76. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44. Albemarle Co. has a twelve month low of $71.97 and a twelve month high of $153.54. The firm has a market cap of $12.69 billion, a price-to-earnings ratio of -6.45 and a beta of 1.55.

Albemarle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Friday, December 13th. Albemarle’s dividend payout ratio is currently -9.67%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Bank of America reduced their price objective on shares of Albemarle from $135.00 to $126.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Oppenheimer reduced their price objective on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. KeyCorp reduced their price objective 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. JPMorgan Chase & Co. cut their target price on shares of Albemarle from $115.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. Finally, Evercore ISI cut their target price on shares of Albemarle from $190.00 to $170.00 and set an “outperform” rating for the company in a research note on Wednesday, August 28th. 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 company. According to MarketBeat, Albemarle presently has an average rating of “Hold” and a consensus price target 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.