BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $24.56 Million Stock Holdings in Albemarle Co. (NYSE:ALB)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its position in shares of Albemarle Co. (NYSE:ALB) by 39.0% in the third quarter, Holdings Channel reports. The firm 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.’s holdings in Albemarle were worth $24,561,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. First Community Trust NA acquired a new position in shares of Albemarle in the 2nd quarter valued at $25,000. CVA Family Office LLC grew its stake in Albemarle by 610.0% in the second quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 244 shares during the period. Eastern Bank bought a new stake in shares of Albemarle in the third quarter worth about $31,000. Cromwell Holdings LLC raised its position in shares of Albemarle by 61.9% during the third quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 148 shares during the period. Finally, Cornerstone Advisors LLC lifted 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 purchasing an additional 200 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Albemarle Stock Down 0.6 %

Albemarle stock opened at $108.38 on Friday. 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 company’s 50-day moving average is $97.82 and its 200-day moving average is $99.46. The firm has a market capitalization of $12.74 billion, a PE ratio of -6.47 and a beta of 1.55. Albemarle Co. has a fifty-two week low of $71.97 and a fifty-two week high of $153.54.

Albemarle Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Robert W. Baird lowered their target price on Albemarle from $85.00 to $79.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Bank of America cut their price objective on shares of Albemarle from $135.00 to $126.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Berenberg Bank cut Albemarle from a “buy” rating to a “hold” rating and lowered their target price for the stock from $160.00 to $83.00 in a report on Wednesday, July 31st. Piper Sandler cut their price target on Albemarle from $95.00 to $90.00 and set an “underweight” rating on the stock in a report on Thursday, August 8th. Finally, Evercore ISI decreased their price objective on Albemarle from $190.00 to $170.00 and set an “outperform” rating for the company in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.