Daymark Wealth Partners LLC Has $212,000 Stock Position in Albemarle Co. (NYSE:ALB)

Daymark Wealth Partners LLC cut its holdings in Albemarle Co. (NYSE:ALB) by 12.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,459 shares of the specialty chemicals company’s stock after selling 341 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Albemarle were worth $212,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ALB. Charles Schwab Investment Management Inc. grew its stake in Albemarle by 38.2% in the third 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 purchasing an additional 282,194 shares in the last quarter. Empower Advisory Group LLC grew its stake in shares of Albemarle by 28.7% in the third quarter. Empower Advisory Group LLC now owns 705,719 shares of the specialty chemicals company’s stock valued at $66,839,000 after buying an additional 157,319 shares in the last quarter. MBB Public Markets I LLC increased its holdings in Albemarle by 392.6% during the second quarter. MBB Public Markets I LLC now owns 7,916 shares of the specialty chemicals company’s stock worth $756,000 after buying an additional 6,309 shares during the last quarter. Vest Financial LLC raised its position in Albemarle by 32.4% during the third quarter. Vest Financial LLC now owns 521,537 shares of the specialty chemicals company’s stock worth $49,395,000 after acquiring an additional 127,549 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Albemarle by 28.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 423,049 shares of the specialty chemicals company’s stock valued at $40,067,000 after acquiring an additional 93,718 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Analysts Set New Price Targets

ALB has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Oppenheimer lowered their price target on Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Royal Bank of Canada raised their price objective on Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Robert W. Baird boosted their target price on Albemarle from $79.00 to $103.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Finally, Mizuho cut their price target on Albemarle from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $115.65.

Albemarle Trading Down 1.2 %

Shares of Albemarle stock opened at $88.71 on Friday. 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 Co. has a 12-month low of $71.97 and a 12-month high of $143.19. The company has a market capitalization of $10.43 billion, a price-to-earnings ratio of -5.30, a PEG ratio of 3.19 and a beta of 1.58. The firm’s 50-day moving average price is $96.87 and its two-hundred day moving average price is $93.64.

Albemarle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were given a dividend of $0.405 per share. The ex-dividend date was Friday, December 13th. This represents a $1.62 annualized dividend and a yield of 1.83%. Albemarle’s dividend payout ratio is currently -9.67%.

Insiders Place Their Bets

In other news, CEO J Kent Masters sold 2,525 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $101.12, for a total value of $255,328.00. Following the completion of the transaction, the chief executive officer now owns 73,747 shares of the company’s stock, valued at approximately $7,457,296.64. This represents a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.38% of the company’s stock.

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.