Rockefeller Capital Management L.P. Boosts Stake in Albemarle Co. (NYSE:ALB)

Rockefeller Capital Management L.P. lifted its position in shares of Albemarle Co. (NYSE:ALB) by 58.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,909 shares of the specialty chemicals company’s stock after acquiring an additional 10,646 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Albemarle were worth $2,742,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Albemarle by 38.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,020,590 shares of the specialty chemicals company’s stock worth $96,660,000 after acquiring an additional 282,194 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Albemarle by 239.7% during the 2nd quarter. SG Americas Securities LLC now owns 53,793 shares of the specialty chemicals company’s stock worth $5,138,000 after acquiring an additional 37,958 shares in the last quarter. Empower Advisory Group LLC boosted its stake in shares of Albemarle by 28.7% during the 3rd quarter. Empower Advisory Group LLC now owns 705,719 shares of the specialty chemicals company’s stock worth $66,839,000 after acquiring an additional 157,319 shares in the last quarter. MBB Public Markets I LLC raised its position in shares of Albemarle by 392.6% during the 2nd quarter. MBB Public Markets I LLC now owns 7,916 shares of the specialty chemicals company’s stock worth $756,000 after purchasing an additional 6,309 shares during the last quarter. Finally, Vest Financial LLC raised its position in shares of Albemarle by 32.4% during the 3rd quarter. Vest Financial LLC now owns 521,537 shares of the specialty chemicals company’s stock worth $49,395,000 after purchasing an additional 127,549 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Albemarle Stock Performance

Albemarle stock opened at $101.13 on Friday. The firm has a 50 day simple moving average of $100.95 and a 200-day simple moving average of $97.95. Albemarle Co. has a 1-year low of $71.97 and a 1-year high of $153.54. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of -6.07 and a beta of 1.56.

Albemarle Announces Dividend

The business also recently disclosed 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 1.60%. Albemarle’s payout ratio is currently -9.67%.

Wall Street Analyst Weigh In

ALB has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Albemarle from $115.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. Wells Fargo & Company upped their price target on shares of Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada upped their price target on shares of Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Evercore ISI reduced their price target on shares of Albemarle from $190.00 to $170.00 and set an “outperform” rating for the company in a research report on Wednesday, August 28th. Finally, KeyCorp cut their price objective 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. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Albemarle has a consensus rating of “Hold” and an average 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.