Albemarle Co. (NYSE:ALB) Position Reduced by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed its position in Albemarle Co. (NYSE:ALB - Free Report) by 39.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 259,328 shares of the specialty chemicals company's stock after selling 166,130 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.22% of Albemarle worth $24,561,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Primecap Management Co. CA raised its holdings in shares of Albemarle by 2.4% during the second quarter. Primecap Management Co. CA now owns 3,813,054 shares of the specialty chemicals company's stock worth $364,223,000 after purchasing an additional 87,970 shares during the period. Jane Street Group LLC lifted its holdings in shares of Albemarle by 176.6% in the 1st quarter. Jane Street Group LLC now owns 1,588,986 shares of the specialty chemicals company's stock worth $209,333,000 after purchasing an additional 3,662,117 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Albemarle by 10.2% in the 2nd quarter. ProShare Advisors LLC now owns 1,568,602 shares of the specialty chemicals company's stock worth $149,833,000 after purchasing an additional 144,705 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Albemarle by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,311,331 shares of the specialty chemicals company's stock valued at $125,264,000 after purchasing an additional 29,721 shares during the period. Finally, Earnest Partners LLC increased its position in Albemarle by 11.9% in the second quarter. Earnest Partners LLC now owns 1,198,730 shares of the specialty chemicals company's stock worth $114,503,000 after buying an additional 127,615 shares during the period. Institutional investors own 92.87% of the company's stock.

Albemarle Stock Down 0.6 %

ALB stock opened at $108.38 on Friday. Albemarle Co. has a 12 month low of $71.97 and a 12 month high of $153.54. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58. The firm has a 50 day simple moving average of $97.82 and a 200 day simple moving average of $99.46.

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 given 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 1.49%. Albemarle's dividend payout ratio (DPR) is presently -9.67%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ALB shares. Wells Fargo & Company boosted their price target 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. Berenberg Bank cut shares of 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 research report on Wednesday, July 31st. Bank of America cut their price target on Albemarle from $135.00 to $126.00 and set a "buy" rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. decreased their price objective on Albemarle from $115.00 to $78.00 and set a "neutral" rating for the company in a report on Monday, August 19th. Finally, Baird R W downgraded Albemarle from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Albemarle 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.