Albemarle Co. (NYSE:ALB) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in shares of Albemarle Co. (NYSE:ALB) by 38.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,020,590 shares of the specialty chemicals company’s stock after acquiring an additional 282,194 shares during the period. Charles Schwab Investment Management Inc. owned about 0.87% of Albemarle worth $96,660,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Community Trust NA purchased a new position in shares of Albemarle in the second quarter valued at approximately $25,000. CVA Family Office LLC boosted its position in Albemarle by 610.0% in the 2nd 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 acquired a new position in shares of Albemarle in the third quarter worth $31,000. Cromwell Holdings LLC increased its position 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 worth $37,000 after acquiring an additional 148 shares during the period. Finally, Cornerstone Advisors LLC raised 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 valued at $38,000 after acquiring an additional 200 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Stock Performance

Shares of ALB stock opened at $106.80 on Wednesday. Albemarle Co. has a 52-week low of $71.97 and a 52-week high of $153.54. The stock’s 50-day moving average price is $98.24 and its 200 day moving average price is $98.85. 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 $12.55 billion, a PE ratio of -6.38 and a beta of 1.55.

Albemarle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Friday, December 13th. Albemarle’s dividend payout ratio (DPR) is presently -9.67%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ALB shares. Mizuho lowered their target price on Albemarle from $128.00 to $103.00 in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Oppenheimer decreased their price target 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 lowered their price target on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Albemarle from $115.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Albemarle presently has an average rating of “Hold” and a consensus target price 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.