Cedar Wealth Management LLC Has $107,000 Stock Holdings in Albemarle Co. (NYSE:ALB)

Cedar Wealth Management LLC decreased its position in Albemarle Co. (NYSE:ALB) by 15.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,132 shares of the specialty chemicals company’s stock after selling 205 shares during the period. Cedar Wealth Management LLC’s holdings in Albemarle were worth $107,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. SG Americas Securities LLC increased its holdings in shares of Albemarle by 239.7% in the second quarter. SG Americas Securities LLC now owns 53,793 shares of the specialty chemicals company’s stock worth $5,138,000 after acquiring an additional 37,958 shares in the last quarter. Empower Advisory Group LLC grew its position in shares of Albemarle by 28.7% in the 3rd quarter. Empower Advisory Group LLC now owns 705,719 shares of the specialty chemicals company’s stock valued at $66,839,000 after purchasing an additional 157,319 shares during the period. MBB Public Markets I LLC increased its stake in Albemarle by 392.6% during the 2nd quarter. MBB Public Markets I LLC now owns 7,916 shares of the specialty chemicals company’s stock worth $756,000 after purchasing an additional 6,309 shares in the last quarter. Vest Financial LLC raised its holdings in Albemarle by 32.4% during the 3rd quarter. Vest Financial LLC now owns 521,537 shares of the specialty chemicals company’s stock worth $49,395,000 after buying an additional 127,549 shares during the period. Finally, Clifford Swan Investment Counsel LLC lifted its stake in Albemarle by 8.0% in the second quarter. Clifford Swan Investment Counsel LLC now owns 123,436 shares of the specialty chemicals company’s stock valued at $11,791,000 after buying an additional 9,182 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on ALB shares. Evercore ISI cut their price objective on shares of Albemarle from $190.00 to $170.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 28th. Baird R W cut Albemarle from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 5th. Oppenheimer dropped their target price on Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft reduced their price target on Albemarle from $105.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 16th. Finally, Royal Bank of Canada lifted their price objective on shares of Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. 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 company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $114.47.

Albemarle Price Performance

Shares of Albemarle stock opened at $106.45 on Wednesday. The company has a 50-day simple moving average of $96.59 and a two-hundred day simple moving average of $99.48. Albemarle Co. has a twelve month low of $71.97 and a twelve month high of $153.54. The stock has a market capitalization of $12.51 billion, a price-to-earnings ratio of -6.36 and a beta of 1.55. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Friday, December 13th. Albemarle’s dividend payout ratio (DPR) is currently -9.67%.

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.