Kentucky Retirement Systems Insurance Trust Fund Sells 311 Shares of Albemarle Co. (NYSE:ALB)

Kentucky Retirement Systems Insurance Trust Fund decreased its stake in shares of Albemarle Co. (NYSE:ALB) by 8.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,480 shares of the specialty chemicals company’s stock after selling 311 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Albemarle were worth $330,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in shares of Albemarle by 3.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,832 shares of the specialty chemicals company’s stock worth $268,000 after buying an additional 102 shares during the last quarter. Foster Group Inc. grew its stake in shares of Albemarle by 4.1% in the second quarter. Foster Group Inc. now owns 3,047 shares of the specialty chemicals company’s stock valued at $291,000 after acquiring an additional 120 shares in the last quarter. abrdn plc boosted its stake in shares of Albemarle by 0.3% in the third quarter. abrdn plc now owns 42,529 shares of the specialty chemicals company’s stock valued at $4,031,000 after buying an additional 146 shares during the period. Moser Wealth Advisors LLC lifted its position in shares of Albemarle by 5.3% during the 3rd quarter. Moser Wealth Advisors LLC now owns 2,925 shares of the specialty chemicals company’s stock valued at $277,000 after acquiring an additional 146 shares during the period. Finally, Cromwell Holdings LLC grew its stake 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. 92.87% of the stock is currently owned by institutional investors.

Albemarle Stock Performance

NYSE:ALB opened at $106.45 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44. The firm has a market cap of $12.51 billion, a price-to-earnings ratio of -6.36 and a beta of 1.55. Albemarle Co. has a 52-week low of $71.97 and a 52-week high of $153.54. The business’s fifty day moving average is $96.59 and its 200 day moving average is $99.48.

Albemarle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 1.52%. Albemarle’s dividend payout ratio is currently -9.67%.

Analyst Ratings Changes

A number of research firms recently issued reports on ALB. Deutsche Bank Aktiengesellschaft lowered their price objective 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. Bank of America decreased their target price on Albemarle from $135.00 to $126.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Baird R W downgraded Albemarle from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 5th. Wells Fargo & Company lifted their price target on Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Finally, Scotiabank cut their price target on shares of Albemarle from $135.00 to $85.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.