Integrated Wealth Concepts LLC Sells 1,488 Shares of Albemarle Co. (NYSE:ALB)

Integrated Wealth Concepts LLC trimmed its holdings in shares of Albemarle Co. (NYSE:ALB) by 21.8% in the third quarter, HoldingsChannel.com reports. The fund owned 5,331 shares of the specialty chemicals company’s stock after selling 1,488 shares during the period. Integrated Wealth Concepts LLC’s holdings in Albemarle were worth $505,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Eastern Bank purchased a new stake in shares of Albemarle during the third quarter valued at approximately $31,000. Cromwell Holdings LLC increased 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 valued at $37,000 after acquiring an additional 148 shares during the last quarter. Cornerstone Advisors LLC increased its position in shares of Albemarle by 100.0% during the third quarter. Cornerstone Advisors LLC now owns 400 shares of the specialty chemicals company’s stock valued at $38,000 after acquiring an additional 200 shares during the last quarter. ORG Partners LLC increased its position in shares of Albemarle by 2,142.1% during the second quarter. ORG Partners LLC now owns 426 shares of the specialty chemicals company’s stock valued at $42,000 after acquiring an additional 407 shares during the last quarter. Finally, Independence Bank of Kentucky purchased a new stake in shares of Albemarle during the second quarter valued at approximately $43,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Albemarle Price Performance

NYSE:ALB opened at $103.98 on Wednesday. The firm has a market capitalization of $12.22 billion, a price-to-earnings ratio of -6.21 and a beta of 1.56. Albemarle Co. has a 52-week low of $71.97 and a 52-week high of $153.54. The stock has a fifty day moving average of $101.74 and a 200 day moving average of $97.13. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44.

Albemarle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Friday, December 13th. Albemarle’s dividend payout ratio is -9.67%.

Insider Activity at Albemarle

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of Albemarle stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $101.12, for a total transaction of $255,328.00. Following the completion of the sale, the chief executive officer now owns 73,747 shares of the company’s stock, valued at $7,457,296.64. The trade was a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on ALB shares. KeyCorp decreased their price target on Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Evercore ISI decreased their target price on Albemarle from $190.00 to $170.00 and set an “outperform” rating for the company in a research report on Wednesday, August 28th. Oppenheimer decreased their target price on Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft decreased their target price 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, Wells Fargo & Company raised their target price on Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $114.47.

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.