Perfromance Wealth Partners LLC decreased its stake in shares of Albemarle Co. (NYSE:ALB – Free Report) by 25.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,000 shares of the specialty chemicals company’s stock after selling 1,000 shares during the quarter. Perfromance Wealth Partners LLC’s holdings in Albemarle were worth $258,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Quarry LP raised its stake in Albemarle by 1,400.0% during the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 252 shares during the last quarter. Trust Co. of Vermont raised its stake in Albemarle by 606.5% during the fourth quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 279 shares during the last quarter. Eastern Bank purchased a new position in Albemarle during the third quarter valued at $31,000. First Community Trust NA raised its stake in Albemarle by 55.0% during the fourth quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 142 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Albemarle by 48.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.
Insider Buying and Selling at Albemarle
In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $101.12, for a total transaction of $255,328.00. Following the sale, the chief executive officer now directly owns 73,747 shares in the company, valued at $7,457,296.64. This represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.38% of the company’s stock.
Albemarle Price Performance
Albemarle Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Friday, December 13th. Albemarle’s payout ratio is presently -9.67%.
Analyst Ratings Changes
Several research analysts have recently weighed in on ALB shares. Oppenheimer decreased their price target on 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 boosted their price target on Albemarle from $79.00 to $103.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Clarkson Capital started coverage on Albemarle in a research note on Tuesday, January 14th. They issued a “buy” rating and a $112.00 price target for the company. Mizuho decreased their price target on Albemarle from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada boosted their price target on Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $115.65.
Check Out Our Latest Research Report on Albemarle
About Albemarle
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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