Tompkins Financial Corp Grows Stock Holdings in Albemarle Co. (NYSE:ALB)

Tompkins Financial Corp lifted its position in shares of Albemarle Co. (NYSE:ALB) by 35.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,042 shares of the specialty chemicals company’s stock after purchasing an additional 790 shares during the period. Tompkins Financial Corp’s holdings in Albemarle were worth $288,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. First Community Trust NA purchased a new position in Albemarle during the 2nd quarter valued at $25,000. CVA Family Office LLC increased its holdings in shares of Albemarle by 610.0% during the second quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 244 shares in the last quarter. Eastern Bank bought a new position in Albemarle in the 3rd quarter worth about $31,000. Eagle Bay Advisors LLC grew its position in Albemarle by 45.0% during the 1st quarter. Eagle Bay Advisors LLC now owns 332 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 103 shares during the last quarter. Finally, Cromwell Holdings LLC increased its stake 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 in the last quarter. 92.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ALB. Scotiabank reduced their price target on shares of Albemarle from $135.00 to $85.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 6th. Baird R W cut shares of Albemarle from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 5th. Citigroup cut their target price on shares of Albemarle from $137.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Wells Fargo & Company increased their target price on 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 target price on shares of Albemarle from $151.00 to $132.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Albemarle presently has an average rating of “Hold” and a consensus target price of $113.58.

Albemarle Trading Up 0.9 %

ALB stock traded up $0.91 during midday trading on Friday, reaching $100.84. 2,287,059 shares of the company traded hands, compared to its average volume of 2,967,749. The firm has a market capitalization of $11.85 billion, a price-to-earnings ratio of -21.32 and a beta of 1.55. Albemarle Co. has a 52-week low of $71.97 and a 52-week high of $153.54. The business has a 50 day moving average of $93.35 and a 200-day moving average of $100.48. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.75 and a current ratio of 2.67.

Albemarle Dividend Announcement

The business also recently declared 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 of this dividend is Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a yield of 1.61%. Albemarle’s dividend payout ratio is presently -34.25%.

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.