Albemarle Co. (NYSE:ALB) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in shares of Albemarle Co. (NYSE:ALB) by 38.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,020,590 shares of the specialty chemicals company’s stock after buying an additional 282,194 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Albemarle were worth $96,660,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of ALB. Farther Finance Advisors LLC boosted its stake in shares of Albemarle by 3.7% in the third quarter. Farther Finance Advisors LLC now owns 2,832 shares of the specialty chemicals company’s stock valued at $268,000 after buying an additional 102 shares in the last quarter. Foster Group Inc. boosted its position in shares of Albemarle by 4.1% during the 2nd quarter. Foster Group Inc. now owns 3,047 shares of the specialty chemicals company’s stock worth $291,000 after purchasing an additional 120 shares in the last quarter. abrdn plc boosted its position in shares of Albemarle by 0.3% during the 3rd quarter. abrdn plc now owns 42,529 shares of the specialty chemicals company’s stock worth $4,031,000 after purchasing an additional 146 shares in the last quarter. Moser Wealth Advisors LLC grew its stake 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 lifted its stake in shares of Albemarle by 61.9% in the third quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 148 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on ALB. Baird R W lowered shares of Albemarle from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft dropped their price objective on Albemarle from $105.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 16th. Berenberg Bank downgraded Albemarle from a “buy” rating to a “hold” rating and decreased their target price for the stock from $160.00 to $83.00 in a research report on Wednesday, July 31st. Royal Bank of Canada raised their price target on Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, KeyCorp cut their price target on Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Albemarle presently has a consensus rating of “Hold” and an average target price of $114.47.

Albemarle Trading Down 2.9 %

Shares of ALB stock opened at $106.80 on Wednesday. The firm’s 50-day simple moving average is $98.24 and its 200-day simple moving average is $98.85. 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 1-year low of $71.97 and a 1-year high of $153.54. The firm has a market cap of $12.55 billion, a P/E ratio of -6.38 and a beta of 1.55.

Albemarle Announces Dividend

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. 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 1.52%. Albemarle’s dividend payout ratio (DPR) is presently -9.67%.

Albemarle 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.