Coldstream Capital Management Inc. Makes New Investment in Albemarle Co. (NYSE:ALB)

Coldstream Capital Management Inc. acquired a new stake in shares of Albemarle Co. (NYSE:ALB) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,274 shares of the specialty chemicals company’s stock, valued at approximately $410,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP increased its holdings in Albemarle by 1,400.0% during the 3rd quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 252 shares in the last quarter. Eastern Bank purchased a new position in shares of Albemarle during the third quarter valued at approximately $31,000. Cromwell Holdings LLC grew its holdings in 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 buying an additional 148 shares in the last quarter. Cornerstone Advisors LLC raised its position in Albemarle by 100.0% in the 3rd quarter. Cornerstone Advisors LLC now owns 400 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 200 shares during the last quarter. Finally, ORG Partners LLC lifted its stake in Albemarle by 2,142.1% during the 2nd quarter. ORG Partners LLC now owns 426 shares of the specialty chemicals company’s stock valued at $42,000 after acquiring an additional 407 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Trading Down 3.4 %

NYSE ALB opened at $99.38 on Friday. The firm has a market capitalization of $11.68 billion, a PE ratio of -5.93 and a beta of 1.56. The stock’s 50 day moving average is $102.06 and its 200 day moving average is $96.81. Albemarle Co. has a twelve month low of $71.97 and a twelve month high of $153.54. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43.

Albemarle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Friday, December 13th. Albemarle’s dividend payout ratio is presently -9.67%.

Analysts Set New Price Targets

Several analysts have recently commented on ALB shares. Wells Fargo & Company increased their target price on shares of Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Royal Bank of Canada boosted their price target on shares of Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Oppenheimer reduced their target price on Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Evercore ISI decreased their target price on shares of Albemarle from $190.00 to $170.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 28th. Finally, Robert W. Baird reduced their price objective on Albemarle from $85.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $114.47.

Insider Buying and Selling

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $101.12, for a total value of $255,328.00. Following the sale, the chief executive officer now owns 73,747 shares in the company, valued at approximately $7,457,296.64. This represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is owned by company insiders.

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.