HB Wealth Management LLC Has $44.79 Million Stake in Albemarle Co. (NYSE:ALB)

HB Wealth Management LLC decreased its position in shares of Albemarle Co. (NYSE:ALB) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 520,292 shares of the specialty chemicals company’s stock after selling 29,993 shares during the period. Albemarle accounts for 0.5% of HB Wealth Management LLC’s investment portfolio, making the stock its 25th biggest holding. HB Wealth Management LLC’s holdings in Albemarle were worth $44,787,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP increased its holdings in shares of Albemarle by 1,400.0% during the 3rd quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 252 shares during the period. Trust Co. of Vermont increased its holdings in shares of Albemarle by 606.5% during the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 279 shares during the period. Eastern Bank bought a new position in shares of Albemarle during the 3rd quarter worth about $31,000. Cromwell Holdings LLC increased its holdings in shares of Albemarle by 61.9% during the 3rd quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 148 shares during the period. Finally, TD Private Client Wealth LLC increased its holdings in shares of Albemarle by 50.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 132 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

ALB has been the topic of several research reports. KeyCorp dropped their price objective on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Oppenheimer lowered their target price 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. Wells Fargo & Company upped their target price on shares of Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Clarkson Capital began coverage on shares of Albemarle in a research note on Tuesday. They issued a “buy” rating and a $112.00 target price on the stock. Finally, Robert W. Baird boosted their price target on shares of Albemarle from $79.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Albemarle presently has a consensus rating of “Hold” and a consensus target price of $115.65.

Insider Transactions at Albemarle

In other news, CEO J Kent Masters sold 2,525 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $101.12, for a total transaction of $255,328.00. Following the completion of the sale, the chief executive officer now owns 73,747 shares of the company’s stock, valued at $7,457,296.64. This represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is owned by insiders.

Albemarle Stock Up 3.4 %

Shares of ALB stock traded up $3.20 during trading hours on Friday, hitting $97.52. 2,048,943 shares of the company were exchanged, compared to its average volume of 1,608,407. The business has a 50 day moving average of $98.20 and a two-hundred day moving average of $93.88. 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 52 week low of $71.97 and a 52 week high of $143.19. The company has a market capitalization of $11.46 billion, a PE ratio of -5.82, a PEG ratio of 3.02 and a beta of 1.58.

Albemarle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, December 13th. Albemarle’s dividend payout ratio is -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.