FORA Capital LLC Buys 19,320 Shares of Albemarle Co. (NYSE:ALB)

FORA Capital LLC increased its stake in shares of Albemarle Co. (NYSE:ALB) by 99.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,800 shares of the specialty chemicals company’s stock after acquiring an additional 19,320 shares during the period. FORA Capital LLC’s holdings in Albemarle were worth $3,675,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC grew its position in shares of Albemarle by 40.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,973 shares of the specialty chemicals company’s stock valued at $260,000 after acquiring an additional 570 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Albemarle by 1.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 162,386 shares of the specialty chemicals company’s stock worth $21,394,000 after purchasing an additional 2,309 shares during the period. SVB Wealth LLC acquired a new position in Albemarle during the first quarter worth approximately $396,000. Silvercrest Asset Management Group LLC raised its stake in Albemarle by 10.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 6,514 shares of the specialty chemicals company’s stock valued at $858,000 after buying an additional 593 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of Albemarle by 206.9% in the first quarter. Janus Henderson Group PLC now owns 55,508 shares of the specialty chemicals company’s stock valued at $7,312,000 after buying an additional 37,423 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on Albemarle from $115.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. Scotiabank cut their target price on shares of Albemarle from $135.00 to $85.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 6th. Robert W. Baird decreased their price target on shares of Albemarle from $85.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Albemarle from $105.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 16th. Finally, Baird R W cut Albemarle from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th. 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. Based on data from MarketBeat.com, Albemarle has an average rating of “Hold” and a consensus target price of $114.47.

Albemarle Price Performance

ALB stock traded up $1.62 during midday trading on Wednesday, reaching $108.41. The company had a trading volume of 155,559 shares, compared to its average volume of 2,926,926. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. Albemarle Co. has a 1-year low of $71.97 and a 1-year high of $153.54. The stock has a 50 day moving average price of $98.24 and a 200-day moving average price of $98.85.

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. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, December 13th. Albemarle’s dividend payout ratio (DPR) is presently -9.67%.

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.