Albemarle (NYSE:ALB) Price Target Raised to $156.00

by · The Cerbat Gem

Albemarle (NYSE:ALB – Free Report) had its price target lifted by Mizuho from $132.00 to $156.00 in a research note published on Monday, Marketbeat.com reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

Other research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Albemarle from $110.00 to $125.00 and gave the company a “hold” rating in a research report on Wednesday, December 3rd. Morgan Stanley reiterated an “equal weight” rating on shares of Albemarle in a research note on Friday, December 19th. TD Cowen increased their price target on Albemarle from $70.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, October 9th. Rothschild Redb raised Albemarle to a “strong-buy” rating in a report on Friday, October 24th. Finally, Stephens reiterated an “outperform” rating on shares of Albemarle in a research report on Friday, December 19th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $134.96.

Check Out Our Latest Stock Report on Albemarle

Albemarle Trading Up 0.4%

Shares of NYSE ALB opened at $177.55 on Monday. The firm’s 50 day moving average price is $133.75 and its 200-day moving average price is $99.90. The company has a market cap of $20.90 billion, a PE ratio of -111.67, a P/E/G ratio of 7.44 and a beta of 1.41. Albemarle has a 52-week low of $49.43 and a 52-week high of $179.14. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.51 and a current ratio of 2.27.

Albemarle (NYSE:ALB – Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.73. Albemarle had a negative net margin of 0.43% and a positive return on equity of 0.10%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm earned ($1.55) earnings per share. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, equities research analysts expect that Albemarle will post -0.04 EPS for the current fiscal year.

Albemarle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 12th were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, December 12th. Albemarle’s payout ratio is currently -101.89%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. WESPAC Advisors LLC purchased a new stake in Albemarle in the 4th quarter worth approximately $644,000. Ballew Advisors Inc bought a new position in shares of Albemarle in the fourth quarter worth approximately $175,000. Spire Wealth Management increased its stake in shares of Albemarle by 27.3% in the fourth quarter. Spire Wealth Management now owns 565 shares of the specialty chemicals company’s stock worth $80,000 after purchasing an additional 121 shares in the last quarter. Chesley Taft & Associates LLC purchased a new stake in shares of Albemarle in the fourth quarter worth $992,000. Finally, Exchange Traded Concepts LLC raised its position in shares of Albemarle by 9.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,105 shares of the specialty chemicals company’s stock valued at $722,000 after purchasing an additional 420 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

About Albemarle

(Get Free Report)

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.

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