Albemarle Co. (NYSE:ALB) Stock Position Increased by John G Ullman & Associates Inc.

John G Ullman & Associates Inc. raised its position in Albemarle Co. (NYSE:ALB - Free Report) by 108.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,129 shares of the specialty chemicals company's stock after purchasing an additional 27,604 shares during the quarter. John G Ullman & Associates Inc.'s holdings in Albemarle were worth $5,032,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. First Community Trust NA purchased a new stake in shares of Albemarle during the 2nd quarter valued at about $25,000. CVA Family Office LLC raised its holdings 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 valued at $27,000 after buying an additional 244 shares during the period. Eastern Bank purchased a new stake in shares of Albemarle during the 3rd quarter valued at about $31,000. Cromwell Holdings LLC raised its holdings in shares of Albemarle by 61.9% during 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 period. Finally, Cornerstone Advisors LLC raised its holdings in shares of Albemarle by 100.0% during the 3rd quarter. Cornerstone Advisors LLC now owns 400 shares of the specialty chemicals company's stock valued at $38,000 after buying an additional 200 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Stock Down 0.5 %

Albemarle stock traded down $0.57 during mid-day trading on Thursday, hitting $108.98. 1,594,278 shares of the company's stock traded hands, compared to its average volume of 2,952,298. The firm has a 50 day moving average price of $96.99 and a 200 day moving average price of $99.55. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. Albemarle Co. has a one year low of $71.97 and a one year high of $153.54.

Albemarle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Friday, December 13th. Albemarle's payout ratio is currently -9.67%.

Analyst Ratings Changes

A number of brokerages have weighed in on ALB. JPMorgan Chase & Co. lowered their price objective on Albemarle from $115.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their price objective on Albemarle from $105.00 to $80.00 and set a "hold" rating for the company in a research note on Friday, August 16th. Baird R W lowered Albemarle from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 5th. KeyCorp lowered their price objective on Albemarle from $132.00 to $127.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. Finally, Oppenheimer decreased their target price on Albemarle from $171.00 to $170.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average 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.