Albemarle (NYSE:ALB) Price Target Cut to $151.00 by Analysts at KeyCorp

Albemarle (NYSE:ALBFree Report) had its target price lowered by KeyCorp from $159.00 to $151.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the specialty chemicals company’s stock.

Several other research firms have also recently weighed in on ALB. Loop Capital decreased their price target on shares of Albemarle from $168.00 to $162.00 and set a buy rating on the stock in a report on Friday, March 15th. Bank of America raised shares of Albemarle from a neutral rating to a buy rating and upped their price target for the stock from $137.00 to $156.00 in a report on Wednesday, April 10th. Mizuho increased their target price on Albemarle from $112.00 to $128.00 and gave the company a neutral rating in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft increased their target price on Albemarle from $125.00 to $140.00 and gave the company a hold rating in a research note on Tuesday, May 7th. Finally, Citigroup increased their target price on Albemarle from $125.00 to $135.00 and gave the company a neutral rating in a research note on Wednesday, April 10th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $152.53.

Read Our Latest Stock Report on ALB

Albemarle Trading Up 7.1 %

NYSE:ALB opened at $96.90 on Wednesday. The company has a market cap of $11.39 billion, a P/E ratio of 35.24, a P/E/G ratio of 2.99 and a beta of 1.57. The stock’s fifty day moving average price is $114.32 and its two-hundred day moving average price is $120.84. Albemarle has a 1 year low of $90.32 and a 1 year high of $247.44. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.84 and a quick ratio of 1.91.

Albemarle (NYSE:ALBGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.09). The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.29 billion. Albemarle had a return on equity of 14.53% and a net margin of 4.02%. The company’s revenue for the quarter was down 47.3% compared to the same quarter last year. During the same period in the previous year, the company posted $10.32 EPS. As a group, analysts expect that Albemarle will post 2.07 EPS for the current year.

Albemarle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.65%. Albemarle’s dividend payout ratio is currently 58.18%.

Insider Transactions at Albemarle

In other news, SVP Mark Richard Mummert sold 843 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $135.53, for a total transaction of $114,251.79. Following the completion of the sale, the senior vice president now directly owns 6,802 shares in the company, valued at $921,875.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO John Clarence Barichivich III sold 1,475 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $132.17, for a total transaction of $194,950.75. Following the completion of the sale, the chief accounting officer now directly owns 4,743 shares in the company, valued at $626,882.31. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Mark Richard Mummert sold 843 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $135.53, for a total transaction of $114,251.79. Following the completion of the sale, the senior vice president now owns 6,802 shares of the company’s stock, valued at $921,875.06. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Institutional Trading of Albemarle

Several institutional investors and hedge funds have recently bought and sold shares of ALB. WFA Asset Management Corp purchased a new stake in Albemarle in the first quarter worth about $25,000. CVA Family Office LLC lifted its holdings in Albemarle by 610.0% in the second quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 244 shares during the period. USCF Advisers LLC lifted its holdings in Albemarle by 100.0% in the fourth quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 100 shares during the period. Arlington Trust Co LLC purchased a new stake in Albemarle in the fourth quarter worth about $30,000. Finally, Jones Financial Companies Lllp lifted its holdings in Albemarle by 2,942.9% in the fourth quarter. Jones Financial Companies Lllp now owns 213 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 206 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Albemarle (NYSE:ALB)

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