Primecap Management Co. CA Has $363.12 Million Stock Holdings in Albemarle Co. (NYSE:ALB)

Primecap Management Co. CA lifted its stake in Albemarle Co. (NYSE:ALB - Free Report) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,833,984 shares of the specialty chemicals company's stock after acquiring an additional 20,930 shares during the quarter. Primecap Management Co. CA owned approximately 3.26% of Albemarle worth $363,117,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Blair William & Co. IL increased its stake in shares of Albemarle by 40.2% in the first quarter. Blair William & Co. IL now owns 5,645 shares of the specialty chemicals company's stock worth $744,000 after purchasing an additional 1,620 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in Albemarle by 40.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,973 shares of the specialty chemicals company's stock valued at $260,000 after purchasing an additional 570 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Albemarle by 116.1% during the 1st quarter. Bessemer Group Inc. now owns 1,759 shares of the specialty chemicals company's stock worth $232,000 after acquiring an additional 945 shares during the period. CreativeOne Wealth LLC lifted its holdings in shares of Albemarle by 23.7% during the 1st quarter. CreativeOne Wealth LLC now owns 2,508 shares of the specialty chemicals company's stock worth $330,000 after acquiring an additional 480 shares during the period. Finally, Axxcess Wealth Management LLC bought a new position in shares of Albemarle during the 1st quarter worth about $211,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Albemarle from $115.00 to $78.00 and set a "neutral" rating for the company in a research report on Monday, August 19th. Mizuho dropped their target price on shares of Albemarle from $128.00 to $103.00 in a research report on Wednesday, July 31st. Robert W. Baird dropped their target price on shares of Albemarle from $85.00 to $79.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. Wells Fargo & Company raised their price objective on shares of Albemarle from $100.00 to $110.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 8th. Finally, Scotiabank lowered their price objective on shares of Albemarle from $135.00 to $85.00 and set a "sector perform" rating for the company in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $114.47.

Albemarle Price Performance

NYSE:ALB opened at $109.55 on Thursday. Albemarle Co. has a one year low of $71.97 and a one year high of $153.54. The company has a market cap of $12.88 billion, a P/E ratio of -6.54 and a beta of 1.55. The firm's fifty day moving average price is $96.99 and its two-hundred day moving average price is $99.55. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 annualized dividend and a dividend yield of 1.48%. Albemarle's dividend payout ratio is currently -9.67%.

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.

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