Albemarle Co. (NYSE:ALB) Receives Average Rating of “Hold” from Brokerages

Shares of Albemarle Co. (NYSE:ALBGet Free Report) have been assigned an average rating of “Hold” from the nineteen ratings firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $165.11.

A number of analysts have recently commented on ALB shares. Wells Fargo & Company boosted their target price on shares of Albemarle from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Wolfe Research started coverage on shares of Albemarle in a report on Friday, March 1st. They set a “peer perform” rating on the stock. Berenberg Bank upgraded shares of Albemarle from a “hold” rating to a “buy” rating and boosted their target price for the company from $130.00 to $160.00 in a report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Albemarle from $125.00 to $140.00 and gave the company a “hold” rating in a report on Tuesday, May 7th. Finally, KeyCorp dropped their target price on shares of Albemarle from $178.00 to $159.00 and set an “overweight” rating on the stock in a report on Thursday, March 7th.

Check Out Our Latest Research Report on Albemarle

Albemarle Stock Down 4.0 %

Shares of Albemarle stock opened at $103.51 on Friday. The company has a current ratio of 2.84, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. The company’s fifty day simple moving average is $122.80 and its two-hundred day simple moving average is $125.47. The company has a market cap of $12.17 billion, a P/E ratio of 37.64, a PEG ratio of 2.83 and a beta of 1.61. Albemarle has a 12-month low of $103.32 and a 12-month high of $247.44.

Albemarle (NYSE:ALBGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.09). The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Albemarle had a net margin of 4.02% and a return on equity of 14.53%. The firm’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 firm posted $10.32 earnings per share. Research analysts anticipate that Albemarle will post 2.49 EPS for the current year.

Albemarle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Friday, June 14th. Albemarle’s dividend payout ratio is currently 58.18%.

Insider Buying and Selling at Albemarle

In other Albemarle news, SVP Mark Richard Mummert sold 843 shares of the company’s 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 transaction, the senior vice president now owns 6,802 shares in the company, valued at approximately $921,875.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO John Clarence Barichivich III sold 1,475 shares of the company’s 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 owns 4,743 shares of the company’s stock, valued at approximately $626,882.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark Richard Mummert sold 843 shares of the company’s 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 sale, the senior vice president now directly owns 6,802 shares of the company’s stock, valued at approximately $921,875.06. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Albemarle

Several hedge funds and other institutional investors have recently made changes to their positions in ALB. Kingfisher Capital LLC increased its holdings in Albemarle by 0.6% in the 3rd quarter. Kingfisher Capital LLC now owns 14,117 shares of the specialty chemicals company’s stock worth $2,401,000 after acquiring an additional 82 shares in the last quarter. Czech National Bank increased its holdings in Albemarle by 0.5% in the 1st quarter. Czech National Bank now owns 20,648 shares of the specialty chemicals company’s stock worth $2,720,000 after acquiring an additional 95 shares in the last quarter. Regatta Capital Group LLC increased its holdings in Albemarle by 4.3% in the 4th quarter. Regatta Capital Group LLC now owns 2,371 shares of the specialty chemicals company’s stock worth $343,000 after acquiring an additional 97 shares in the last quarter. USCF Advisers LLC increased its holdings in Albemarle by 100.0% in the 4th quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Finally, Eagle Bay Advisors LLC increased its holdings in Albemarle by 45.0% in the 1st quarter. Eagle Bay Advisors LLC now owns 332 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

About Albemarle

(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.

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Analyst Recommendations for Albemarle (NYSE:ALB)

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