Huntington National Bank Has $76,000 Stake in Albemarle Co. (NYSE:ALB)

Huntington National Bank cut its position in Albemarle Co. (NYSE:ALB) by 12.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 802 shares of the specialty chemicals company’s stock after selling 112 shares during the quarter. Huntington National Bank’s holdings in Albemarle were worth $76,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALB. Empowered Funds LLC bought a new stake in shares of Albemarle during the 1st quarter worth $202,000. Blair William & Co. IL boosted its stake in shares of Albemarle by 40.2% in the 1st quarter. Blair William & Co. IL now owns 5,645 shares of the specialty chemicals company’s stock valued at $744,000 after purchasing an additional 1,620 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Albemarle by 40.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,973 shares of the specialty chemicals company’s stock valued at $260,000 after purchasing an additional 570 shares during the last quarter. UniSuper Management Pty Ltd increased its position in Albemarle by 544.9% during the 1st quarter. UniSuper Management Pty Ltd now owns 9,151 shares of the specialty chemicals company’s stock worth $1,206,000 after purchasing an additional 7,732 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in Albemarle by 116.1% in the 1st quarter. Bessemer Group Inc. now owns 1,759 shares of the specialty chemicals company’s stock valued at $232,000 after purchasing an additional 945 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Albemarle Trading Up 0.5 %

Shares of ALB stock opened at $104.03 on Tuesday. Albemarle Co. has a fifty-two week low of $71.97 and a fifty-two week high of $153.54. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44. The stock has a 50 day simple moving average of $96.03 and a two-hundred day simple moving average of $99.64. The company has a market cap of $12.23 billion, a P/E ratio of -6.21 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 dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.56%. Albemarle’s payout ratio is presently -9.67%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ALB. Oppenheimer lowered their price target on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Robert W. Baird dropped their target price on Albemarle from $85.00 to $79.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Evercore ISI cut their price target on Albemarle from $190.00 to $170.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 28th. Baird R W lowered shares of Albemarle from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Piper Sandler reduced their target price on shares of Albemarle from $95.00 to $90.00 and set an “underweight” rating on the stock in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Albemarle has an average rating of “Hold” and a consensus price target of $114.47.

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.