Albemarle Co. (NYSE:ALB) Short Interest Down 9.5% in November

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

Analysts Set New Price Targets

ALB has been the subject of a number of research reports. Robert W. Baird dropped their target price on shares of 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 increased their price objective on Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Piper Sandler cut their price target 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. Deutsche Bank Aktiengesellschaft cut their target price on shares of Albemarle from $105.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 16th. Finally, Evercore ISI lowered their price objective on Albemarle from $190.00 to $170.00 and set an “outperform” rating on the stock in a research 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $114.47.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Inspire Trust Co. N.A. lifted its position in shares of Albemarle by 9.9% during the 3rd quarter. Inspire Trust Co. N.A. now owns 11,120 shares of the specialty chemicals company’s stock worth $1,053,000 after buying an additional 1,000 shares during the period. Tidal Investments LLC raised its holdings in shares of Albemarle by 1.5% in the third quarter. Tidal Investments LLC now owns 18,457 shares of the specialty chemicals company’s stock valued at $1,748,000 after purchasing an additional 274 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Albemarle in the 3rd quarter valued at approximately $267,000. Rehmann Capital Advisory Group increased its holdings in shares of Albemarle by 5.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 4,542 shares of the specialty chemicals company’s stock worth $430,000 after acquiring an additional 228 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in Albemarle by 50.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 132 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Albemarle Stock Down 2.0 %

Albemarle stock traded down $2.23 during midday trading on Tuesday, hitting $109.07. The stock had a trading volume of 1,477,858 shares, compared to its average volume of 2,911,551. The stock has a market cap of $12.82 billion, a P/E ratio of -6.58 and a beta of 1.56. Albemarle has a 12 month low of $71.97 and a 12 month high of $153.54. The company has a current ratio of 2.44, a quick ratio of 1.58 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average price of $100.26 and a 200 day moving average price of $98.07.

Albemarle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.405 per share. The ex-dividend date is Friday, December 13th. This represents a $1.62 annualized dividend and a yield of 1.49%. Albemarle’s dividend payout ratio (DPR) is presently -9.67%.

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.