Whittier Trust Co. Sells 482 Shares of Albemarle Co. (NYSE:ALB)

Whittier Trust Co. cut its stake in Albemarle Co. (NYSE:ALB) by 50.3% in the third quarter, HoldingsChannel reports. The fund owned 477 shares of the specialty chemicals company’s stock after selling 482 shares during the period. Whittier Trust Co.’s holdings in Albemarle were worth $45,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ALB. Koss Olinger Consulting LLC raised its stake in shares of Albemarle by 1.6% during the third quarter. Koss Olinger Consulting LLC now owns 19,972 shares of the specialty chemicals company’s stock worth $1,892,000 after buying an additional 319 shares during the last quarter. Vest Financial LLC raised its stake in shares of 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 buying an additional 127,549 shares during the last quarter. OLD National Bancorp IN raised its stake in shares of Albemarle by 7.1% during the third quarter. OLD National Bancorp IN now owns 113,346 shares of the specialty chemicals company’s stock worth $10,735,000 after buying an additional 7,530 shares during the last quarter. Cadent Capital Advisors LLC bought a new stake in shares of Albemarle during the third quarter worth approximately $322,000. Finally, Meridian Financial Partners LLC bought a new stake in shares of Albemarle during the third quarter worth approximately $799,000. 92.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ALB has been the subject of a number of recent research reports. Berenberg Bank downgraded shares of Albemarle from a “buy” rating to a “hold” rating and dropped their price target for the stock from $160.00 to $83.00 in a research note on Wednesday, July 31st. Piper Sandler decreased their price objective on shares of Albemarle from $95.00 to $90.00 and set an “underweight” rating for the company in a report on Thursday, August 8th. Citigroup reduced their price target on shares of Albemarle from $137.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, July 12th. KeyCorp reduced their price target on shares of Albemarle from $151.00 to $132.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Albemarle from $105.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $117.60.

Albemarle Stock Performance

NYSE ALB opened at $95.17 on Friday. The company has a current ratio of 2.67, a quick ratio of 1.75 and a debt-to-equity ratio of 0.38. The firm’s fifty day moving average price is $91.07 and its two-hundred day moving average price is $102.23. Albemarle Co. has a 1 year low of $71.97 and a 1 year high of $153.54. The firm has a market capitalization of $11.19 billion, a P/E ratio of 34.61, a price-to-earnings-growth ratio of 13.81 and a beta of 1.54.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, July 31st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.49). The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. Albemarle had a positive return on equity of 6.38% and a negative net margin of 6.72%. The business’s revenue was down 39.7% compared to the same quarter last year. During the same period last year, the company posted $7.33 earnings per share. As a group, research analysts anticipate that Albemarle Co. will post 0.46 EPS for the current year.

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.