TD Private Client Wealth LLC Purchases 132 Shares of Albemarle Co. (NYSE:ALB)

TD Private Client Wealth LLC boosted its holdings in Albemarle Co. (NYSE:ALB) by 50.4% in the third quarter, Holdings Channel reports. The institutional investor owned 394 shares of the specialty chemicals company’s stock after buying an additional 132 shares during the period. TD Private Client Wealth LLC’s holdings in Albemarle were worth $37,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ALB. Farther Finance Advisors LLC raised its stake in shares of Albemarle by 3.7% during the third quarter. Farther Finance Advisors LLC now owns 2,832 shares of the specialty chemicals company’s stock valued at $268,000 after acquiring an additional 102 shares during the last quarter. Foster Group Inc. raised 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 worth $291,000 after purchasing an additional 120 shares during the last quarter. abrdn plc lifted its holdings in 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 buying an additional 146 shares during the period. Moser Wealth Advisors LLC grew its position in shares of Albemarle by 5.3% in the 3rd quarter. Moser Wealth Advisors LLC now owns 2,925 shares of the specialty chemicals company’s stock valued at $277,000 after buying an additional 146 shares during the last quarter. Finally, Cromwell Holdings LLC increased 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 buying 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 NYSE:ALB opened at $99.53 on Tuesday. Albemarle Co. has a twelve month low of $71.97 and a twelve month high of $153.54. The stock’s 50 day moving average is $101.96 and its 200-day moving average is $96.45. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $11.70 billion, a price-to-earnings ratio of -5.94 and a beta of 1.56.

Albemarle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.62 annualized dividend and a yield of 1.63%. Albemarle’s payout ratio is -9.67%.

Analyst Upgrades and Downgrades

ALB has been the topic of a number of recent analyst reports. Robert W. Baird cut their price objective on Albemarle from $85.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Evercore ISI dropped their price target on shares of Albemarle from $190.00 to $170.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 28th. Royal Bank of Canada increased their price objective on shares of Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Wells Fargo & Company boosted their target price on shares of Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Finally, KeyCorp decreased their price target on Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $114.47.

Insider Buying and Selling at Albemarle

In related news, CEO J Kent Masters sold 2,525 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $101.12, for a total value of $255,328.00. Following the sale, the chief executive officer now owns 73,747 shares in the company, valued at $7,457,296.64. This represents a 3.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.38% of the company’s stock.

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.