FNY Investment Advisers LLC Has $163,000 Stock Position in Albemarle Co. (NYSE:ALB)

FNY Investment Advisers LLC cut its holdings in Albemarle Co. (NYSE:ALB) by 29.6% during the 4th quarter, HoldingsChannel reports. The fund owned 1,900 shares of the specialty chemicals company’s stock after selling 800 shares during the quarter. FNY Investment Advisers LLC’s holdings in Albemarle were worth $163,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Pathway Financial Advisers LLC grew its position in shares of Albemarle by 9,108.7% during the 3rd quarter. Pathway Financial Advisers LLC now owns 574,805 shares of the specialty chemicals company’s stock worth $54,440,000 after purchasing an additional 568,563 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Albemarle by 38.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,020,590 shares of the specialty chemicals company’s stock valued at $96,660,000 after buying an additional 282,194 shares during the period. FMR LLC grew its position in Albemarle by 67.3% during the third quarter. FMR LLC now owns 658,145 shares of the specialty chemicals company’s stock worth $62,333,000 after buying an additional 264,756 shares in the last quarter. International Assets Investment Management LLC increased its stake in Albemarle by 7,667.4% during the 3rd quarter. International Assets Investment Management LLC now owns 163,659 shares of the specialty chemicals company’s stock worth $155,000,000 after acquiring an additional 161,552 shares during the period. Finally, Empower Advisory Group LLC raised its holdings in Albemarle by 28.7% in the 3rd quarter. Empower Advisory Group LLC now owns 705,719 shares of the specialty chemicals company’s stock valued at $66,839,000 after acquiring an additional 157,319 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. KeyCorp reduced their price objective on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Royal Bank of Canada boosted their target price 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. Clarkson Capital assumed coverage on shares of Albemarle in a research note on Tuesday. They issued a “buy” rating and a $112.00 price objective on the stock. Finally, Robert W. Baird boosted their price objective on shares of Albemarle from $79.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $115.65.

Albemarle Stock Performance

NYSE:ALB opened at $92.71 on Wednesday. The stock’s 50-day moving average is $98.55 and its 200-day moving average is $93.89. Albemarle Co. has a 1-year low of $71.97 and a 1-year high of $143.19. 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 stock has a market cap of $10.90 billion, a P/E ratio of -5.53 and a beta of 1.58.

Albemarle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Friday, December 13th. Albemarle’s payout ratio is -9.67%.

Insider Buying and Selling at Albemarle

In related news, CEO J Kent Masters sold 2,525 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $7,457,296.64. The trade was a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.38% of the company’s stock.

Albemarle 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.