Brown Brothers Harriman & Co. Has $1.94 Million Holdings in Albemarle Co. (NYSE:ALB)

Brown Brothers Harriman & Co. decreased its position in Albemarle Co. (NYSE:ALB) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 20,458 shares of the specialty chemicals company’s stock after selling 152 shares during the period. Brown Brothers Harriman & Co.’s holdings in Albemarle were worth $1,938,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ALB. First Community Trust NA bought a new position in Albemarle in the second quarter valued at $25,000. CVA Family Office LLC boosted its stake in shares of Albemarle by 610.0% during the 2nd quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 244 shares during the last quarter. Eastern Bank bought a new position in shares of Albemarle in the 3rd quarter valued at about $31,000. Cromwell Holdings LLC increased its position 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 valued at $37,000 after acquiring an additional 148 shares during the last quarter. Finally, Cornerstone Advisors LLC raised its holdings in Albemarle by 100.0% during the third quarter. Cornerstone Advisors LLC now owns 400 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 200 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Albemarle Stock Up 1.5 %

ALB opened at $109.98 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. The business’s fifty day simple moving average is $98.24 and its 200 day simple moving average is $98.85. Albemarle Co. has a 52 week low of $71.97 and a 52 week high of $153.54. The stock has a market cap of $12.93 billion, a PE ratio of -6.57 and a beta of 1.55.

Albemarle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.47%. Albemarle’s dividend payout ratio (DPR) is currently -9.67%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ALB shares. 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 report on Tuesday, November 12th. Evercore ISI lowered their price objective on shares of Albemarle from $190.00 to $170.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 28th. Wells Fargo & Company upped 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. Mizuho reduced their price target on Albemarle from $128.00 to $103.00 in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. dropped their price objective on Albemarle from $115.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $114.47.

Albemarle 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.