Kingfisher Capital LLC Has $1.16 Million Stock Position in Albemarle Co. (NYSE:ALB)

Kingfisher Capital LLC lowered its position in shares of Albemarle Co. (NYSE:ALB) by 18.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,262 shares of the specialty chemicals company’s stock after selling 2,841 shares during the quarter. Kingfisher Capital LLC’s holdings in Albemarle were worth $1,161,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. First Community Trust NA acquired a new stake in Albemarle during the 2nd quarter valued at $25,000. CVA Family Office LLC grew its holdings in shares of Albemarle by 610.0% during the second 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 in the last quarter. Eastern Bank acquired a new position in Albemarle during the third quarter valued at $31,000. Cromwell Holdings LLC lifted its stake in Albemarle by 61.9% in the 3rd quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 148 shares in the last quarter. Finally, Cornerstone Advisors LLC boosted its position in Albemarle by 100.0% during the 3rd quarter. Cornerstone Advisors LLC now owns 400 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ALB shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Albemarle from $105.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 16th. Royal Bank of Canada increased their target price on shares of Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Piper Sandler lowered their price target on shares of Albemarle from $95.00 to $90.00 and set an “underweight” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company increased their price objective on Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. 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 given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $114.47.

Albemarle Stock Performance

NYSE ALB opened at $107.98 on Friday. Albemarle Co. has a twelve month low of $71.97 and a twelve month high of $153.54. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. The stock has a market cap of $12.69 billion, a P/E ratio of -6.45 and a beta of 1.55. The company’s 50-day simple moving average is $99.00 and its 200 day simple moving average is $98.76.

Albemarle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a $0.405 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.50%. Albemarle’s payout ratio is presently -9.67%.

Albemarle Company 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.