Prudent Man Advisors LLC Boosts Holdings in Albemarle Co. (NYSE:ALB)

Prudent Man Advisors LLC boosted its stake in Albemarle Co. (NYSE:ALB) by 48.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,988 shares of the specialty chemicals company’s stock after acquiring an additional 1,620 shares during the period. Prudent Man Advisors LLC’s holdings in Albemarle were worth $472,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ALB. Farther Finance Advisors LLC raised its stake in Albemarle by 3.7% during the third quarter. Farther Finance Advisors LLC now owns 2,832 shares of the specialty chemicals company’s stock worth $268,000 after purchasing an additional 102 shares during the period. Foster Group Inc. boosted its holdings in 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 during the last quarter. abrdn plc lifted its stake in shares of Albemarle by 0.3% in the 3rd quarter. abrdn plc now owns 42,529 shares of the specialty chemicals company’s stock valued at $4,031,000 after purchasing an additional 146 shares in the last quarter. Moser Wealth Advisors LLC grew its holdings 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 worth $277,000 after purchasing an additional 146 shares during the period. Finally, Cromwell Holdings LLC increased its position in Albemarle by 61.9% during the 3rd quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 148 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ALB shares. Scotiabank dropped their price objective on shares of Albemarle from $135.00 to $85.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 6th. Royal Bank of Canada upped their target price on Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Mizuho dropped their target price on Albemarle from $128.00 to $103.00 in a report on Wednesday, July 31st. Piper Sandler reduced their price target on Albemarle from $95.00 to $90.00 and set an “underweight” rating on the stock in a research report on Thursday, August 8th. Finally, Wells Fargo & Company lifted their price objective on shares of Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. One equities 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $114.47.

Albemarle Stock Performance

Shares of ALB opened at $103.53 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58. Albemarle Co. has a 12-month low of $71.97 and a 12-month high of $153.54. The business’s fifty day moving average price is $95.52 and its 200 day moving average price is $99.79. The stock has a market capitalization of $12.17 billion, a PE ratio of -6.18 and a beta of 1.55.

Albemarle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Friday, December 13th. Albemarle’s dividend payout ratio (DPR) is -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.