Albemarle (NYSE:ALB) Price Target Lowered to $92.00 at Robert W. Baird

Albemarle (NYSE:ALB) had its target price cut by Robert W. Baird from $103.00 to $92.00 in a research report report published on Wednesday morning. They currently have a neutral rating on the specialty chemicals company’s stock.

ALB has been the topic of several other research reports. Oppenheimer reduced their price objective on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Truist Financial initiated coverage on shares of Albemarle in a research note on Tuesday, January 28th. They issued a “hold” rating and a $96.00 price objective on the stock. Citigroup reduced their price objective on shares of Albemarle from $115.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday. Clarkson Capital initiated coverage on shares of Albemarle in a research note on Tuesday, January 14th. They issued a “buy” rating and a $112.00 price objective on the stock. Finally, Mizuho reduced their price objective on shares of Albemarle from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Albemarle presently has a consensus rating of “Hold” and a consensus price target of $114.24.

Albemarle Stock Performance

NYSE ALB opened at $76.57 on Wednesday. The firm’s fifty day moving average price is $90.00 and its two-hundred day moving average price is $92.48. The stock has a market cap of $9.00 billion, a PE ratio of -4.57, a PEG ratio of 3.43 and a beta of 1.59. Albemarle has a fifty-two week low of $71.97 and a fifty-two week high of $143.19. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44.

Albemarle (NYSE:ALB) last posted its earnings results 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 positive return on equity of 1.67% and a negative net margin of 28.80%. On average, equities analysts expect that Albemarle will post -1.55 EPS for the current fiscal year.

Insider Activity

In other news, CEO J Kent Masters sold 2,525 shares of the company’s 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 transaction, the chief executive officer now owns 73,747 shares in the company, valued at approximately $7,457,296.64. This represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Albemarle

Several institutional investors have recently made changes to their positions in ALB. Quarry LP raised its holdings in shares of Albemarle by 1,400.0% in the 3rd quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 252 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Albemarle by 340.6% in the 4th quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 235 shares during the last quarter. Trust Co. of Vermont raised its holdings in shares of Albemarle by 606.5% in the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 279 shares during the last quarter. Eastern Bank acquired a new stake in shares of Albemarle in the 3rd quarter worth about $31,000. Finally, Cromwell Holdings LLC raised its holdings in shares of Albemarle by 61.9% in the 3rd quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 148 shares during the last quarter. Institutional investors and hedge funds own 92.87% 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.