KCM Investment Advisors LLC Buys 555 Shares of Albemarle Co. (NYSE:ALB)

KCM Investment Advisors LLC lifted its stake in shares of Albemarle Co. (NYSE:ALB) by 4.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,396 shares of the specialty chemicals company’s stock after purchasing an additional 555 shares during the period. KCM Investment Advisors LLC’s holdings in Albemarle were worth $1,269,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ALB. First Community Trust NA bought a new position in Albemarle during the 2nd quarter worth $25,000. CVA Family Office LLC raised its stake in Albemarle by 610.0% in the 2nd quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 244 shares in the last quarter. Eastern Bank bought a new stake in Albemarle in the 3rd quarter valued at about $31,000. Cromwell Holdings LLC increased its holdings in 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 buying an additional 148 shares during the period. Finally, ORG Partners LLC raised its position in shares of Albemarle by 2,142.1% in the 2nd quarter. ORG Partners LLC now owns 426 shares of the specialty chemicals company’s stock valued at $42,000 after buying an additional 407 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Price Performance

Shares of NYSE ALB opened at $103.53 on Friday. Albemarle Co. has a twelve month low of $71.97 and a twelve month high of $153.54. 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 $12.17 billion, a P/E ratio of -6.18 and a beta of 1.55. The stock’s 50-day simple moving average is $95.52 and its two-hundred day simple moving average is $100.06.

Albemarle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, December 13th. Albemarle’s dividend payout ratio is currently -9.67%.

Analyst Ratings Changes

A number of research analysts recently issued reports on ALB shares. Mizuho decreased their price objective on shares of Albemarle from $128.00 to $103.00 in a research note on Wednesday, July 31st. Oppenheimer lowered their price objective on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Robert W. Baird reduced their price target on shares of Albemarle from $85.00 to $79.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Albemarle from $105.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 16th. Finally, Piper Sandler dropped their price target on shares of Albemarle from $95.00 to $90.00 and set an “underweight” rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Albemarle currently has a consensus rating of “Hold” and a consensus 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.