Cedar Wealth Management LLC Sells 205 Shares of Albemarle Co. (NYSE:ALB)

Cedar Wealth Management LLC reduced its position in Albemarle Co. (NYSE:ALB) by 15.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,132 shares of the specialty chemicals company’s stock after selling 205 shares during the quarter. Cedar Wealth Management LLC’s holdings in Albemarle were worth $107,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALB. Blair William & Co. IL raised its position in Albemarle by 40.2% during the first quarter. Blair William & Co. IL now owns 5,645 shares of the specialty chemicals company’s stock valued at $744,000 after purchasing an additional 1,620 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Albemarle by 40.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,973 shares of the specialty chemicals company’s stock worth $260,000 after buying an additional 570 shares in the last quarter. UniSuper Management Pty Ltd lifted its position in shares of Albemarle by 544.9% during the 1st quarter. UniSuper Management Pty Ltd now owns 9,151 shares of the specialty chemicals company’s stock worth $1,206,000 after buying an additional 7,732 shares during the last quarter. Bessemer Group Inc. boosted its stake in Albemarle by 116.1% in the first quarter. Bessemer Group Inc. now owns 1,759 shares of the specialty chemicals company’s stock valued at $232,000 after buying an additional 945 shares in the last quarter. Finally, Payden & Rygel Investment Group bought a new position in Albemarle in the first quarter valued at about $184,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Stock Performance

Shares of ALB opened at $106.45 on Wednesday. The firm’s fifty day simple moving average is $96.59 and its two-hundred day simple moving average is $99.48. Albemarle Co. has a 12 month low of $71.97 and a 12 month high of $153.54. The company has a current ratio of 2.44, a quick ratio of 1.58 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $12.51 billion, a P/E ratio of -6.36 and a beta of 1.55.

Albemarle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a dividend of $0.405 per share. The ex-dividend date is Friday, December 13th. This represents a $1.62 annualized dividend and a yield of 1.52%. Albemarle’s dividend payout ratio is currently -9.67%.

Analyst Upgrades and Downgrades

ALB has been the subject of a number of research reports. Scotiabank dropped their target price on shares of Albemarle from $135.00 to $85.00 and set a “sector perform” rating for the company in a report on Tuesday, August 6th. Berenberg Bank downgraded shares of Albemarle from a “buy” rating to a “hold” rating and dropped their price objective for the company from $160.00 to $83.00 in a research note on Wednesday, July 31st. Royal Bank of Canada boosted their target price on shares of Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Baird R W cut Albemarle from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Evercore ISI cut their price objective on Albemarle from $190.00 to $170.00 and set an “outperform” rating on the stock in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average 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.