Brooklyn Investment Group Makes New $142,000 Investment in Albemarle Co. (NYSE:ALB)

Brooklyn Investment Group bought a new position in Albemarle Co. (NYSE:ALB) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 1,499 shares of the specialty chemicals company’s stock, valued at approximately $142,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Primecap Management Co. CA increased its position in shares of Albemarle by 0.5% during the 3rd quarter. Primecap Management Co. CA now owns 3,833,984 shares of the specialty chemicals company’s stock worth $363,117,000 after purchasing an additional 20,930 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Albemarle by 10.2% during 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 holdings 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 acquiring an additional 29,721 shares during the period. Earnest Partners LLC boosted its holdings in Albemarle by 11.9% during the 2nd quarter. Earnest Partners LLC now owns 1,198,730 shares of the specialty chemicals company’s stock valued at $114,503,000 after acquiring an additional 127,615 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Albemarle by 38.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,020,590 shares of the specialty chemicals company’s stock valued at $96,660,000 after acquiring an additional 282,194 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Scotiabank lowered their target price on Albemarle from $135.00 to $85.00 and set a “sector perform” rating for the company in a report on Tuesday, August 6th. KeyCorp lowered their target price on Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Baird R W cut Albemarle from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 5th. Piper Sandler decreased their price objective on Albemarle from $95.00 to $90.00 and set an “underweight” rating for the company in a research note on Thursday, August 8th. Finally, 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 research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $114.47.

Albemarle Trading Up 1.1 %

ALB opened at $107.95 on Thursday. The firm has a market cap of $12.69 billion, a price-to-earnings ratio of -6.44 and a beta of 1.55. Albemarle Co. has a 52 week low of $71.97 and a 52 week high of $153.54. The business’s 50 day moving average is $98.58 and its two-hundred day moving average is $98.69. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Friday, December 13th. Albemarle’s dividend payout ratio (DPR) is -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.