Albemarle Co. (NYSE:ALB) Shares Purchased by Mirabella Financial Services LLP

Mirabella Financial Services LLP grew its stake in shares of Albemarle Co. (NYSE:ALB) by 69.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 6,824 shares of the specialty chemicals company’s stock after acquiring an additional 2,795 shares during the period. Mirabella Financial Services LLP’s holdings in Albemarle were worth $646,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. SG Americas Securities LLC raised its stake in Albemarle by 239.7% during the 2nd quarter. SG Americas Securities LLC now owns 53,793 shares of the specialty chemicals company’s stock valued at $5,138,000 after purchasing an additional 37,958 shares during the period. Empower Advisory Group LLC boosted its position in 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 during the period. MBB Public Markets I LLC grew its stake in 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 valued at $756,000 after acquiring an additional 6,309 shares in the last quarter. Vest Financial LLC increased its stake in Albemarle by 32.4% in the 3rd quarter. Vest Financial LLC now owns 521,537 shares of the specialty chemicals company’s stock valued at $49,395,000 after buying an additional 127,549 shares during the period. Finally, Mizuho Markets Americas LLC lifted its position in Albemarle by 14.1% in the 3rd quarter. Mizuho Markets Americas LLC now owns 62,060 shares of the specialty chemicals company’s stock worth $5,878,000 after buying an additional 7,659 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on ALB shares. KeyCorp dropped their target price on Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Royal Bank of Canada raised their price objective 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. Berenberg Bank downgraded shares of Albemarle from a “buy” rating to a “hold” rating and decreased their target price for the stock from $160.00 to $83.00 in a research report on Wednesday, July 31st. Baird R W downgraded shares of Albemarle from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Bank of America reduced their price objective on shares of Albemarle from $135.00 to $126.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $114.47.

Albemarle Stock Performance

Shares of NYSE:ALB opened at $109.98 on Tuesday. The business has a fifty day moving average of $98.24 and a 200-day moving average of $98.85. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44. Albemarle Co. has a twelve month low of $71.97 and a twelve month high of $153.54. The firm has a market cap of $12.93 billion, a PE ratio of -6.57 and a beta of 1.55.

Albemarle Dividend Announcement

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 $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Friday, December 13th. Albemarle’s dividend payout ratio (DPR) is presently -9.67%.

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.