Albemarle (ALB) – Analysts’ Weekly Ratings Changes

A number of firms have modified their ratings and price targets on shares of Albemarle (NYSE: ALB) recently:

• 4/11/2024 – Albemarle had its price target raised by analysts at Wells Fargo & Company from $135.00 to $145.00. They now have an “overweight” rating on the stock.
• 4/11/2024 – Albemarle was upgraded by analysts at Berenberg Bank from a “hold” rating to a “buy” rating. They now have a $160.00 price target on the stock, up previously from $130.00.
• 4/10/2024 – Albemarle had its price target raised by analysts at Citigroup Inc. from $125.00 to $135.00. They now have a “neutral” rating on the stock.
• 4/10/2024 – Albemarle was upgraded by analysts at Bank of America Co. from a “neutral” rating to a “buy” rating. They now have a $156.00 price target on the stock, up previously from $137.00.
• 3/15/2024 – Albemarle had its price target lowered by analysts at Loop Capital from $168.00 to $162.00. They now have a “buy” rating on the stock.
• 3/8/2024 – Albemarle was downgraded by analysts at Vertical Research from a “buy” rating to a “hold” rating. They now have a $145.00 price target on the stock.
• 3/7/2024 – Albemarle had its price target lowered by analysts at KeyCorp from $178.00 to $159.00. They now have an “overweight” rating on the stock.
• 3/7/2024 – Albemarle had its price target lowered by analysts at Mizuho from $115.00 to $112.00. They now have a “neutral” rating on the stock.
• 3/1/2024 – Albemarle is now covered by analysts at Wolfe Research. They set a “peer perform” rating on the stock.
• 2/27/2024 – Albemarle had its price target raised by analysts at Mizuho from $105.00 to $115.00. They now have a “neutral” rating on the stock.

Albemarle Stock Down 2.3 %

Shares of NYSE ALB opened at $111.77 on Friday. Albemarle Co. has a 52-week low of $106.69 and a 52-week high of $247.44. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. The company’s 50-day simple moving average is $123.12 and its 200-day simple moving average is $129.82. The firm has a market cap of $13.14 billion, a price-to-earnings ratio of 8.38, a price-to-earnings-growth ratio of 2.31 and a beta of 1.62.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Thursday, February 15th. The specialty chemicals company reported $1.85 EPS for the quarter, topping the consensus estimate of $0.99 by $0.86. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.18 billion. Albemarle had a return on equity of 26.62% and a net margin of 16.36%. Albemarle’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the previous year, the business earned $8.62 EPS. Equities analysts predict that Albemarle Co. will post 3.09 EPS for the current fiscal year.

Albemarle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Thursday, March 14th. Albemarle’s payout ratio is 11.99%.

Hedge Funds Weigh In On Albemarle

Several hedge funds and other institutional investors have recently modified their holdings of ALB. Assetmark Inc. purchased a new stake in shares of Albemarle in the third quarter valued at approximately $25,000. USCF Advisers LLC grew its position 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 acquiring an additional 100 shares during the period. Covestor Ltd increased its stake in Albemarle by 51.2% during the first quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 44 shares during the last quarter. Arlington Trust Co LLC purchased a new stake in Albemarle in the fourth quarter valued at $30,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Albemarle by 2,942.9% in the 4th quarter. Jones Financial Companies Lllp now owns 213 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 206 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

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.