Albemarle Co. (NYSE:ALB) Shares Sold by Dover Advisors LLC

Dover Advisors LLC reduced its stake in shares of Albemarle Co. (NYSE:ALB) by 4.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,987 shares of the specialty chemicals company’s stock after selling 310 shares during the period. Dover Advisors LLC’s holdings in Albemarle were worth $515,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. AMF Tjanstepension AB purchased a new position in Albemarle during the third quarter valued at approximately $692,000. Sequoia Financial Advisors LLC purchased a new position in shares of Albemarle during the 3rd quarter valued at approximately $375,000. Signaturefd LLC lifted its stake in shares of Albemarle by 213.1% in the 3rd quarter. Signaturefd LLC now owns 2,918 shares of the specialty chemicals company’s stock valued at $276,000 after purchasing an additional 1,986 shares during the period. Eastern Bank purchased a new stake in Albemarle during the third quarter worth $31,000. Finally, IFM Investors Pty Ltd grew its position in Albemarle by 9.9% during the third quarter. IFM Investors Pty Ltd now owns 24,945 shares of the specialty chemicals company’s stock valued at $2,363,000 after buying an additional 2,252 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Albemarle Trading Down 1.5 %

Shares of ALB stock opened at $81.26 on Monday. Albemarle Co. has a 1-year low of $71.97 and a 1-year high of $143.19. The firm has a market cap of $9.55 billion, a PE ratio of -7.26, a price-to-earnings-growth ratio of 45.02 and a beta of 1.59. The company has a 50-day moving average of $86.93 and a two-hundred day moving average of $92.23. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.95 and a quick ratio of 1.19.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.49). Albemarle had a negative return on equity of 1.72% and a negative net margin of 21.93%. On average, analysts predict that Albemarle Co. will post 0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Morgan Stanley decreased their price objective on shares of Albemarle from $73.00 to $68.00 and set an “underweight” rating for the company in a research report on Tuesday, February 18th. Clarkson Capital assumed coverage on Albemarle in a research report on Tuesday, January 14th. They set a “buy” rating and a $112.00 price target on the stock. Truist Financial dropped their price objective on Albemarle from $96.00 to $85.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Deutsche Bank Aktiengesellschaft reduced their target price on Albemarle from $109.00 to $105.00 in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada cut their price target on shares of Albemarle from $133.00 to $114.00 and set an “overweight” rating for the company in a report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $109.68.

Insider Activity

In related news, CEO J Kent Masters sold 2,525 shares of the 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.