WealthPlan Investment Management LLC Has $4.89 Million Stock Position in Albemarle Co. (NYSE:ALB)

WealthPlan Investment Management LLC increased its position in shares of Albemarle Co. (NYSE:ALB) by 4.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 51,581 shares of the specialty chemicals company’s stock after purchasing an additional 2,258 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Albemarle were worth $4,885,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALB. Jane Street Group LLC boosted its holdings in Albemarle by 176.6% during the first quarter. Jane Street Group LLC now owns 1,588,986 shares of the specialty chemicals company’s stock worth $209,333,000 after purchasing an additional 3,662,117 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings in Albemarle by 9,108.7% during the third quarter. Pathway Financial Advisers LLC now owns 574,805 shares of the specialty chemicals company’s stock worth $54,440,000 after purchasing an additional 568,563 shares during the last quarter. Capital World Investors purchased a new position in Albemarle during the first quarter worth about $49,007,000. PGGM Investments boosted its holdings in Albemarle by 261.6% during the first quarter. PGGM Investments now owns 413,492 shares of the specialty chemicals company’s stock worth $54,473,000 after purchasing an additional 299,148 shares during the last quarter. Finally, HB Wealth Management LLC boosted its holdings in Albemarle by 115.7% during the second quarter. HB Wealth Management LLC now owns 542,200 shares of the specialty chemicals company’s stock worth $51,791,000 after purchasing an additional 290,862 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Price Performance

ALB stock opened at $110.49 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.75. Albemarle Co. has a one year low of $71.97 and a one year high of $153.54. The stock has a market cap of $12.99 billion, a PE ratio of -6.60 and a beta of 1.55. The firm has a 50 day simple moving average of $93.76 and a two-hundred day simple moving average of $100.24.

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 paid a $0.405 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a yield of 1.47%. Albemarle’s dividend payout ratio is presently -9.67%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ALB. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Albemarle from $105.00 to $80.00 and set a “hold” rating on the stock in a research report on Friday, August 16th. Berenberg Bank lowered shares of Albemarle from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $160.00 to $83.00 in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price objective 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. Baird R W lowered shares of Albemarle from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 5th. Finally, Robert W. Baird lowered their price objective 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 investment 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’s stock. Based on data from MarketBeat, Albemarle presently has a consensus rating of “Hold” and an average target price of $113.58.

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.