CreativeOne Wealth LLC Invests $200,000 in Albemarle Co. (NYSE:ALB)

CreativeOne Wealth LLC acquired a new position in Albemarle Co. (NYSE:ALB) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 2,112 shares of the specialty chemicals company’s stock, valued at approximately $200,000.

Other hedge funds also recently made changes to their positions in the company. First Community Trust NA acquired a new position in shares of Albemarle in the second quarter worth about $25,000. Eastern Bank acquired a new position in shares of Albemarle in the third quarter worth about $31,000. Cromwell Holdings LLC boosted its holdings 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 buying an additional 148 shares during the period. Cornerstone Advisors LLC boosted its holdings in shares of Albemarle by 100.0% in the third quarter. Cornerstone Advisors LLC now owns 400 shares of the specialty chemicals company’s stock worth $38,000 after buying an additional 200 shares during the period. Finally, ORG Partners LLC boosted its holdings in shares of Albemarle by 2,142.1% in the second quarter. ORG Partners LLC now owns 426 shares of the specialty chemicals company’s stock worth $42,000 after buying an additional 407 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Albemarle from $105.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 16th. Oppenheimer decreased their price target on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Piper Sandler decreased their price target on shares of Albemarle from $95.00 to $90.00 and set an “underweight” rating for the company in a report on Thursday, August 8th. Evercore ISI decreased their price target on shares of Albemarle from $190.00 to $170.00 and set an “outperform” rating for the company in a report on Wednesday, August 28th. Finally, KeyCorp decreased their price target on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $114.47.

Albemarle Stock Down 2.0 %

ALB opened at $109.07 on Wednesday. The firm’s 50-day simple moving average is $100.26 and its 200-day simple moving average is $98.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44. Albemarle Co. has a twelve month low of $71.97 and a twelve month high of $153.54. The firm has a market cap of $12.82 billion, a price-to-earnings ratio of -6.51 and a beta of 1.56.

Albemarle Announces Dividend

The business 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. This represents a $1.62 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Friday, December 13th. 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.