MAI Capital Management Has $663,000 Holdings in Albemarle Co. (NYSE:ALB)

MAI Capital Management cut its position in shares of Albemarle Co. (NYSE:ALB - Free Report) by 90.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,002 shares of the specialty chemicals company's stock after selling 63,351 shares during the quarter. MAI Capital Management's holdings in Albemarle were worth $663,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ALB. First Community Trust NA bought a new position in shares of Albemarle during the second quarter worth about $25,000. CVA Family Office LLC increased its position 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 purchasing an additional 244 shares during the last quarter. Eastern Bank bought a new stake in shares of Albemarle during the 3rd quarter worth approximately $31,000. Cromwell Holdings LLC boosted its holdings in shares of Albemarle by 61.9% in the 3rd quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company's stock valued at $37,000 after buying an additional 148 shares during the last quarter. Finally, ORG Partners LLC boosted its holdings in shares of Albemarle by 2,142.1% in the 2nd quarter. ORG Partners LLC now owns 426 shares of the specialty chemicals company's stock valued at $42,000 after buying an additional 407 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Albemarle Trading Down 0.6 %

Shares of NYSE:ALB opened at $108.38 on Friday. The company has a market capitalization of $12.74 billion, a P/E ratio of -6.47 and a beta of 1.55. The business's 50 day simple moving average is $97.82 and its 200 day simple moving average is $99.46. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58. Albemarle Co. has a 1 year low of $71.97 and a 1 year high of $153.54.

Albemarle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid 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 1.49%. Albemarle's dividend payout ratio (DPR) is presently -9.67%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Baird R W lowered shares of Albemarle from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 5th. Mizuho reduced their price target on Albemarle from $128.00 to $103.00 in a report on Wednesday, July 31st. Robert W. Baird dropped their price objective on Albemarle from $85.00 to $79.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. Royal Bank of Canada lifted their target price on Albemarle from $108.00 to $133.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 12th. Finally, Berenberg Bank lowered Albemarle from a "buy" rating to a "hold" rating and decreased their target price for the stock from $160.00 to $83.00 in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $114.47.

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.