Albemarle Co. (NYSE:ALB) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in Albemarle Co. (NYSE:ALB - Free Report) by 14.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 808,707 shares of the specialty chemicals company's stock after selling 141,632 shares during the quarter. Bank of New York Mellon Corp owned 0.69% of Albemarle worth $69,613,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Quarry LP lifted its position in Albemarle by 1,400.0% during the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company's stock valued at $26,000 after buying an additional 252 shares during the period. Trust Co. of Vermont increased its stake in shares of Albemarle by 606.5% during the fourth quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company's stock valued at $28,000 after purchasing an additional 279 shares in the last quarter. First Community Trust NA lifted its holdings in shares of Albemarle by 55.0% during the fourth quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company's stock valued at $34,000 after purchasing an additional 142 shares during the last quarter. Ameliora Wealth Management Ltd. bought a new stake in shares of Albemarle in the 4th quarter worth approximately $35,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in Albemarle by 48.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company's stock valued at $36,000 after buying an additional 136 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Stock Performance

NYSE:ALB traded up $2.11 during mid-day trading on Wednesday, hitting $74.27. 1,115,131 shares of the company traded hands, compared to its average volume of 2,564,617. The stock's fifty day moving average price is $84.74 and its 200-day moving average price is $92.14. The company has a quick ratio of 1.19, a current ratio of 1.95 and a debt-to-equity ratio of 0.39. Albemarle Co. has a one year low of $67.23 and a one year high of $137.50. The firm has a market cap of $8.73 billion, a price-to-earnings ratio of -6.64 and a beta of 1.59.

Albemarle (NYSE:ALB - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.49). Albemarle had a negative return on equity of 1.72% and a negative net margin of 21.93%. Research analysts anticipate that Albemarle Co. will post -0.04 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.405 per share. The ex-dividend date is Friday, March 14th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.18%. Albemarle's dividend payout ratio is presently -14.46%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ALB shares. Deutsche Bank Aktiengesellschaft cut their target price on Albemarle from $109.00 to $105.00 in a research note on Wednesday, February 12th. Morgan Stanley reduced their price target 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. Royal Bank of Canada lowered their price objective on Albemarle from $133.00 to $114.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 12th. Mizuho reduced their target price on Albemarle from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Finally, Scotiabank dropped their price objective on Albemarle from $85.00 to $75.00 and set a "sector perform" rating on the stock in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $109.68.

Insider Buying and Selling

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the stock in a transaction dated Thursday, December 5th. The shares were 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 directly owns 73,747 shares of the company's stock, valued at approximately $7,457,296.64. This represents a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by insiders.

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.