Huntington National Bank Has $76,000 Stock Position in Albemarle Co. (NYSE:ALB)

Huntington National Bank lessened its position in Albemarle Co. (NYSE:ALB) by 12.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 802 shares of the specialty chemicals company’s stock after selling 112 shares during the period. Huntington National Bank’s holdings in Albemarle were worth $76,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALB. First Community Trust NA bought a new position in Albemarle in the 2nd quarter valued at about $25,000. CVA Family Office LLC boosted its position in shares of Albemarle by 610.0% during the second quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 244 shares during the last quarter. Eastern Bank bought a new stake in Albemarle during the third quarter worth $31,000. Cromwell Holdings LLC raised its position 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 buying an additional 148 shares during the last quarter. Finally, ORG Partners LLC lifted its stake in Albemarle by 2,142.1% during 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 in the last quarter. Institutional investors own 92.87% of the company’s stock.

Albemarle Price Performance

ALB opened at $104.03 on Tuesday. The firm has a 50-day moving average price of $96.03 and a 200-day moving average price of $99.64. Albemarle Co. has a twelve month low of $71.97 and a twelve month high of $153.54. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $12.23 billion, a price-to-earnings ratio of -6.21 and a beta of 1.55.

Albemarle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 yield of 1.56%. Albemarle’s payout ratio is -9.67%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Robert W. Baird lowered their target price on shares of Albemarle from $85.00 to $79.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Royal Bank of Canada increased their price objective on shares of Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Berenberg Bank downgraded Albemarle from a “buy” rating to a “hold” rating and cut their target price for the stock from $160.00 to $83.00 in a research note on Wednesday, July 31st. Evercore ISI decreased their price target on Albemarle from $190.00 to $170.00 and set an “outperform” rating for the company in a research report on Wednesday, August 28th. Finally, Scotiabank cut their price objective on Albemarle from $135.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $114.47.

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.