KPP Advisory Services LLC Raises Holdings in Albemarle Co. (NYSE:ALB)

KPP Advisory Services LLC boosted its holdings in shares of Albemarle Co. (NYSE:ALB) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,476 shares of the specialty chemicals company’s stock after buying an additional 228 shares during the quarter. KPP Advisory Services LLC’s holdings in Albemarle were worth $1,182,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ALB. Farther Finance Advisors LLC lifted its stake in shares of Albemarle by 3.7% during the third quarter. Farther Finance Advisors LLC now owns 2,832 shares of the specialty chemicals company’s stock worth $268,000 after buying an additional 102 shares during the period. Dorsey & Whitney Trust CO LLC raised its position in shares of Albemarle by 4.6% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 2,655 shares of the specialty chemicals company’s stock worth $350,000 after acquiring an additional 116 shares during the period. Foster Group Inc. increased its stake in shares of Albemarle by 4.1% during the second quarter. Foster Group Inc. now owns 3,047 shares of the specialty chemicals company’s stock worth $291,000 after purchasing an additional 120 shares in the last quarter. abrdn plc increased its stake in shares of Albemarle by 0.3% during the third quarter. abrdn plc now owns 42,529 shares of the specialty chemicals company’s stock worth $4,031,000 after purchasing an additional 146 shares in the last quarter. Finally, Moser Wealth Advisors LLC increased its stake in shares of Albemarle by 5.3% during the third quarter. Moser Wealth Advisors LLC now owns 2,925 shares of the specialty chemicals company’s stock worth $277,000 after purchasing an additional 146 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALB has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on shares of Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. KeyCorp reduced their target price on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock in a report on Tuesday. Piper Sandler dropped their price objective 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. Oppenheimer dropped 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. Finally, Baird R W downgraded shares of Albemarle from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $114.47.

Albemarle Trading Up 1.4 %

Shares of NYSE ALB traded up $1.43 during midday trading on Friday, reaching $103.53. 2,498,086 shares of the stock were exchanged, compared to its average volume of 2,971,724. The company has a market capitalization of $12.17 billion, a P/E ratio of -6.18 and a beta of 1.55. Albemarle Co. has a 52-week low of $71.97 and a 52-week 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 50 day moving average price of $95.52 and a 200-day moving average price of $100.06.

Albemarle Dividend Announcement

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

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.