Dorsey & Whitney Trust CO LLC Sells 922 Shares of Albemarle Co. (NYSE:ALB)

Dorsey & Whitney Trust CO LLC decreased its holdings in Albemarle Co. (NYSE:ALB) by 23.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,042 shares of the specialty chemicals company’s stock after selling 922 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Albemarle were worth $262,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Principal Financial Group Inc. increased its stake in shares of Albemarle by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 135,194 shares of the specialty chemicals company’s stock valued at $12,804,000 after buying an additional 4,131 shares during the period. CWA Asset Management Group LLC acquired a new stake in shares of Albemarle in the 3rd quarter valued at $202,000. Atria Investments Inc increased its stake in shares of Albemarle by 25.2% in the 3rd quarter. Atria Investments Inc now owns 5,216 shares of the specialty chemicals company’s stock valued at $494,000 after buying an additional 1,051 shares during the period. Covestor Ltd increased its stake in shares of Albemarle by 290.4% in the 3rd quarter. Covestor Ltd now owns 812 shares of the specialty chemicals company’s stock valued at $77,000 after buying an additional 604 shares during the period. Finally, Apollon Wealth Management LLC acquired a new stake in shares of Albemarle in the 3rd quarter valued at $243,000. Institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ALB. Truist Financial lowered their target price on Albemarle from $96.00 to $85.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Citigroup lowered their target price on Albemarle from $115.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. BMO Capital Markets decreased their price objective on Albemarle from $150.00 to $140.00 in a research note on Wednesday, February 12th. KeyCorp decreased their price objective on Albemarle from $127.00 to $122.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Finally, Mizuho decreased their price objective on Albemarle from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Albemarle has a consensus rating of “Hold” and a consensus target price of $107.05.

Albemarle Stock Performance

ALB stock opened at $72.70 on Wednesday. The business’s 50-day moving average price is $83.46 and its two-hundred day moving average price is $91.74. The company has a current ratio of 1.95, a quick ratio of 1.19 and a debt-to-equity ratio of 0.39. The firm has a market cap of $8.55 billion, a PE ratio of -6.49 and a beta of 1.70. Albemarle Co. has a 1-year low of $67.23 and a 1-year high of $137.50.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.49). Albemarle had a negative net margin of 21.93% and a negative return on equity of 1.72%. As a group, research analysts forecast that Albemarle Co. will post -0.04 earnings per share for the current year.

Albemarle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.405 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.23%. Albemarle’s dividend payout ratio (DPR) is -14.46%.

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.