Clear Creek Financial Management LLC Cuts Position in Albemarle Co. (NYSE:ALB)

Clear Creek Financial Management LLC trimmed its holdings in Albemarle Co. (NYSE:ALB) by 5.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,384 shares of the specialty chemicals company’s stock after selling 196 shares during the period. Clear Creek Financial Management LLC’s holdings in Albemarle were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. First Community Trust NA acquired a new stake in Albemarle in the 2nd quarter valued at about $25,000. CVA Family Office LLC grew its stake in Albemarle by 610.0% in the 2nd quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 244 shares during the last quarter. Eastern Bank acquired a new stake in Albemarle in the 3rd quarter valued at about $31,000. Cromwell Holdings LLC grew its stake in Albemarle by 61.9% in the 3rd quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 148 shares during the last quarter. Finally, ORG Partners LLC grew its stake in Albemarle by 2,142.1% in 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 during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Baird R W cut shares of Albemarle from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 5th. Hsbc Global Res raised shares of Albemarle to a “hold” rating in a research note on Wednesday, July 17th. HSBC cut shares of Albemarle from a “buy” rating to a “hold” rating and set a $95.00 price target on the stock. in a research note on Wednesday, July 17th. Finally, Piper Sandler decreased their price target on shares of Albemarle from $95.00 to $90.00 and set an “underweight” rating on the stock in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $117.30.

Albemarle Trading Up 2.4 %

NYSE ALB opened at $100.57 on Tuesday. Albemarle Co. has a one year low of $71.97 and a one year high of $153.54. The company’s 50 day moving average price is $92.35 and its 200 day moving average price is $100.75. 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 firm has a market capitalization of $11.82 billion, a price-to-earnings ratio of -21.26 and a beta of 1.55.

Albemarle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.405 per share. The ex-dividend date of this dividend 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 is currently -34.25%.

About Albemarle

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.