Prime Capital Investment Advisors LLC Purchases 159 Shares of Albemarle Co. (NYSE:ALB)

Prime Capital Investment Advisors LLC boosted its holdings in shares of Albemarle Co. (NYSE:ALB) by 4.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,560 shares of the specialty chemicals company’s stock after purchasing an additional 159 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Albemarle were worth $337,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Verus Capital Partners LLC boosted its stake in Albemarle by 32.4% in the third quarter. Verus Capital Partners LLC now owns 3,960 shares of the specialty chemicals company’s stock valued at $375,000 after buying an additional 969 shares in the last quarter. Rakuten Securities Inc. boosted its stake in shares of Albemarle by 86.2% in the 3rd quarter. Rakuten Securities Inc. now owns 1,246 shares of the specialty chemicals company’s stock valued at $118,000 after purchasing an additional 577 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Albemarle during the 3rd quarter valued at approximately $276,000. WealthPlan Investment Management LLC increased its position in Albemarle by 4.6% during the 3rd quarter. WealthPlan Investment Management LLC now owns 51,581 shares of the specialty chemicals company’s stock worth $4,885,000 after purchasing an additional 2,258 shares in the last quarter. Finally, WealthPLAN Partners LLC lifted its stake in Albemarle by 1.9% in the 3rd quarter. WealthPLAN Partners LLC now owns 23,619 shares of the specialty chemicals company’s stock valued at $2,237,000 after purchasing an additional 450 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALB. Baird R W downgraded shares of Albemarle from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th. Oppenheimer lowered their target price on Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Robert W. Baird dropped their target price on Albemarle from $85.00 to $79.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Scotiabank reduced their price target on Albemarle from $135.00 to $85.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 6th. Finally, Mizuho dropped their price objective on shares of Albemarle from $128.00 to $103.00 in a report on Wednesday, July 31st. One investment 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $114.47.

Albemarle Price Performance

Shares of ALB opened at $103.53 on Friday. The firm has a market cap of $12.17 billion, a PE ratio of -6.18 and a beta of 1.55. Albemarle Co. has a 52-week low of $71.97 and a 52-week high of $153.54. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44. The business’s 50 day moving average price is $95.52 and its two-hundred day moving average price is $99.92.

Albemarle Dividend Announcement

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