Albemarle Co. (NYSE:ALB) Shares Sold by AM Squared Ltd

by · The Markets Daily

AM Squared Ltd reduced its stake in Albemarle Co. (NYSE:ALB – Free Report) by 86.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 799 shares of the specialty chemicals company’s stock after selling 5,200 shares during the period. AM Squared Ltd’s holdings in Albemarle were worth $76,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Primecap Management Co. CA increased its stake in Albemarle by 2.4% in the second quarter. Primecap Management Co. CA now owns 3,813,054 shares of the specialty chemicals company’s stock valued at $364,223,000 after purchasing an additional 87,970 shares during the last quarter. Jane Street Group LLC increased its stake in Albemarle by 176.6% in the first quarter. Jane Street Group LLC now owns 1,588,986 shares of the specialty chemicals company’s stock valued at $209,333,000 after purchasing an additional 3,662,117 shares during the last quarter. ProShare Advisors LLC increased its stake in Albemarle by 10.2% in the second quarter. ProShare Advisors LLC now owns 1,568,602 shares of the specialty chemicals company’s stock valued at $149,833,000 after purchasing an additional 144,705 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Albemarle by 2.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,311,331 shares of the specialty chemicals company’s stock valued at $125,264,000 after purchasing an additional 29,721 shares during the last quarter. Finally, Earnest Partners LLC increased its stake in Albemarle by 11.9% in the second quarter. Earnest Partners LLC now owns 1,198,730 shares of the specialty chemicals company’s stock valued at $114,503,000 after purchasing an additional 127,615 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ALB shares. Bank of America dropped their price target on shares of Albemarle from $135.00 to $126.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. 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 report on Friday, November 8th. Berenberg Bank lowered shares of Albemarle from a “buy” rating to a “hold” rating and lowered their target price for the stock from $160.00 to $83.00 in a research report on Wednesday, July 31st. KeyCorp lowered their target price on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Finally, Scotiabank lowered their price objective on shares of Albemarle from $135.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $114.47.

View Our Latest Analysis on Albemarle

Albemarle Stock Performance

Shares of NYSE:ALB opened at $103.53 on Friday. The business’s fifty day moving average price is $95.52 and its two-hundred day moving average price is $99.92. 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 one year low of $71.97 and a one year high of $153.54.

Albemarle Dividend Announcement

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

About Albemarle

(Free Report)

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.

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