Albemarle Co. (NYSE:ALB) Shares Acquired by Mizuho Markets Americas LLC

Mizuho Markets Americas LLC lifted its position in Albemarle Co. (NYSE:ALB) by 14.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,060 shares of the specialty chemicals company’s stock after acquiring an additional 7,659 shares during the period. Mizuho Markets Americas LLC owned 0.05% of Albemarle worth $5,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Community Trust NA acquired a new stake in shares of Albemarle during the second quarter worth about $25,000. CVA Family Office LLC lifted its stake in Albemarle by 610.0% during the 2nd 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 during the period. Eastern Bank purchased a new stake in shares of Albemarle in the 3rd quarter valued at $31,000. 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 worth $37,000 after acquiring an additional 148 shares during the period. Finally, ORG Partners LLC raised its holdings in shares of Albemarle by 2,142.1% during the second quarter. ORG Partners LLC now owns 426 shares of the specialty chemicals company’s stock worth $42,000 after purchasing an additional 407 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Mizuho lowered their target price on Albemarle from $128.00 to $103.00 in a research note on Wednesday, July 31st. Robert W. Baird lowered their price objective on Albemarle from $85.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Berenberg Bank lowered shares of Albemarle from a “buy” rating to a “hold” rating and cut their target price for the company from $160.00 to $83.00 in a report on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price target on shares of Albemarle from $115.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target 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. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $114.47.

Albemarle Stock Performance

NYSE:ALB opened at $103.53 on Friday. The firm has a market capitalization of $12.17 billion, a PE ratio of -6.18 and a beta of 1.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58. The business’s fifty day moving average price is $95.52 and its 200 day moving average price is $99.92. Albemarle Co. has a 12 month low of $71.97 and a 12 month high of $153.54.

Albemarle Announces Dividend

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 annualized dividend and a yield of 1.56%. Albemarle’s dividend payout ratio is currently -9.67%.

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.