Quantbot Technologies LP Buys 14,772 Shares of Albemarle Co. (NYSE:ALB)

Quantbot Technologies LP grew its position in Albemarle Co. (NYSE:ALB) by 800.7% during the third quarter, HoldingsChannel reports. The firm owned 16,617 shares of the specialty chemicals company’s stock after buying an additional 14,772 shares during the period. Quantbot Technologies LP’s holdings in Albemarle were worth $1,574,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. First Community Trust NA acquired a new stake in Albemarle during the second quarter worth approximately $25,000. CVA Family Office LLC boosted its holdings in shares of Albemarle by 610.0% during the 2nd quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 244 shares in the last quarter. Eastern Bank acquired a new stake in shares of Albemarle during the 3rd quarter worth approximately $31,000. Cromwell Holdings LLC increased its stake in shares of 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 acquiring an additional 148 shares in the last quarter. Finally, Cornerstone Advisors LLC lifted its position in shares of Albemarle by 100.0% during the 3rd quarter. Cornerstone Advisors LLC now owns 400 shares of the specialty chemicals company’s stock valued at $38,000 after acquiring an additional 200 shares during the period. Institutional investors own 92.87% of the company’s stock.

Albemarle Stock Performance

Shares of ALB opened at $107.70 on Friday. The stock has a 50-day moving average price of $99.38 and a 200-day moving average price of $98.82. The company has a market cap of $12.66 billion, a PE ratio of -6.43 and a beta of 1.55. The company has a current ratio of 2.44, a quick ratio of 1.58 and a debt-to-equity ratio of 0.43. Albemarle Co. has a 12-month low of $71.97 and a 12-month high of $153.54.

Albemarle Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have commented on ALB shares. Baird R W downgraded shares of Albemarle from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 5th. KeyCorp cut their target price on Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Oppenheimer dropped their price objective on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Evercore ISI cut their price target on Albemarle from $190.00 to $170.00 and set an “outperform” rating for the company in a research note on Wednesday, August 28th. Finally, Bank of America cut their target price on Albemarle from $135.00 to $126.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.