Daiwa Securities Group Inc. Has $2.07 Million Holdings in Albemarle Co. (NYSE:ALB)

Daiwa Securities Group Inc. raised its holdings in shares of Albemarle Co. (NYSE:ALB) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,810 shares of the specialty chemicals company’s stock after purchasing an additional 495 shares during the period. Daiwa Securities Group Inc.’s holdings in Albemarle were worth $2,066,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its position in Albemarle by 3.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,832 shares of the specialty chemicals company’s stock valued at $268,000 after purchasing an additional 102 shares during the period. Foster Group Inc. lifted its position in Albemarle by 4.1% during the 2nd quarter. Foster Group Inc. now owns 3,047 shares of the specialty chemicals company’s stock valued at $291,000 after purchasing an additional 120 shares during the period. abrdn plc lifted its position in Albemarle by 0.3% during 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 during the period. Moser Wealth Advisors LLC lifted its position in Albemarle by 5.3% during the 3rd quarter. Moser Wealth Advisors LLC now owns 2,925 shares of the specialty chemicals company’s stock valued at $277,000 after purchasing an additional 146 shares during the period. Finally, Cromwell Holdings LLC lifted 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 valued at $37,000 after purchasing an additional 148 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Price Performance

Shares of ALB opened at $107.98 on Friday. The stock has a market capitalization of $12.69 billion, a P/E ratio of -6.45 and a beta of 1.55. Albemarle Co. has a twelve month low of $71.97 and a twelve month high of $153.54. The company has a 50 day moving average of $99.00 and a 200-day moving average of $98.76. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.405 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.62 annualized dividend and a dividend yield of 1.50%. Albemarle’s dividend payout ratio is presently -9.67%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler cut their price target on shares of Albemarle from $95.00 to $90.00 and set an “underweight” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. cut their price target on shares of Albemarle from $115.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Wells Fargo & Company increased their price target on shares of Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Bank of America cut their price target on shares of Albemarle from $135.00 to $126.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Robert W. Baird cut their price target on shares of Albemarle from $85.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Albemarle presently has an average rating of “Hold” and a consensus target price of $114.47.

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.