Albemarle Co. (NYSE:ALB) Shares Purchased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. boosted its holdings in shares of Albemarle Co. (NYSE:ALB) by 19.8% in the 3rd quarter, Holdings Channel reports. The firm owned 29,129 shares of the specialty chemicals company’s stock after buying an additional 4,813 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Albemarle were worth $2,759,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ALB. Jane Street Group LLC grew its stake in Albemarle by 176.6% during the 1st quarter. Jane Street Group LLC now owns 1,588,986 shares of the specialty chemicals company’s stock valued at $209,333,000 after acquiring an additional 3,662,117 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake 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 acquiring an additional 568,563 shares in the last quarter. Capital World Investors acquired a new position in Albemarle during the first quarter valued at approximately $49,007,000. PGGM Investments increased its stake in shares of Albemarle by 261.6% in the first quarter. PGGM Investments now owns 413,492 shares of the specialty chemicals company’s stock worth $54,473,000 after purchasing an additional 299,148 shares during the period. Finally, HB Wealth Management LLC raised its stake in Albemarle by 115.7% during the 2nd quarter. HB Wealth Management LLC now owns 542,200 shares of the specialty chemicals company’s stock valued at $51,791,000 after purchasing an additional 290,862 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

ALB has been the subject of a number of recent research reports. Mizuho dropped their target price on Albemarle from $128.00 to $103.00 in a report on Wednesday, July 31st. KeyCorp dropped their price objective on Albemarle from $151.00 to $132.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. JPMorgan Chase & Co. dropped their price target on shares of Albemarle from $115.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Oppenheimer dropped their price target on Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Hsbc Global Res raised Albemarle to a “hold” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $113.58.

Albemarle Stock Up 0.9 %

Albemarle stock opened at $100.84 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.75 and a current ratio of 2.67. The stock has a 50-day simple moving average of $93.35 and a 200-day simple moving average of $100.38. Albemarle Co. has a fifty-two week low of $71.97 and a fifty-two week high of $153.54. The company has a market capitalization of $11.85 billion, a P/E ratio of -6.02 and a beta of 1.55.

Albemarle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.405 per share. The ex-dividend date is Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.61%. Albemarle’s dividend payout ratio (DPR) is presently -9.67%.

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.