Albemarle (NYSE:ALB) had its price objective trimmed by Loop Capital to $108.00 in a report released on Thursday morning, The Fly reports. The brokerage currently has a buy rating on the specialty chemicals company’s stock.
Several other equities research analysts have also recently weighed in on ALB. ValuEngine cut Albemarle from a sell rating to a strong sell rating in a research report on Wednesday, January 16th. Citigroup cut Albemarle from a buy rating to a neutral rating and decreased their price target for the company from $90.00 to $81.00 in a research report on Tuesday, February 5th. reiterated a buy rating and set a $157.00 price target on shares of Albemarle in a research report on Thursday, February 14th. Deutsche Bank upped their price target on Albemarle from $84.00 to $95.00 and gave the company a hold rating in a research report on Monday, February 25th. Finally, Buckingham Research decreased their price target on Albemarle from $100.00 to $88.00 and set a neutral rating on the stock in a research report on Friday, March 29th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. Albemarle presently has an average rating of Hold and a consensus target price of $99.54.
NYSE ALB traded down $1.17 during trading on Thursday, hitting $68.24. 45,342 shares of the company’s stock traded hands, compared to its average volume of 1,813,304. The company has a market cap of $7.35 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 0.73 and a beta of 1.56. Albemarle has a 12-month low of $68.45 and a 12-month high of $108.74. The company has a quick ratio of 0.96, a current ratio of 1.55 and a debt-to-equity ratio of 0.36.
Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, May 8th. The specialty chemicals company reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.02. Albemarle had a return on equity of 15.53% and a net margin of 20.54%. The firm had revenue of $832.06 million for the quarter, compared to analysts’ expectations of $827.94 million. During the same period in the prior year, the business posted $1.30 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. As a group, equities research analysts anticipate that Albemarle will post 6.23 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Thursday, June 13th. Albemarle’s dividend payout ratio (DPR) is 26.82%.
In related news, SVP Deeanne J. Marlow acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average cost of $70.85 per share, for a total transaction of $70,850.00. Following the completion of the transaction, the senior vice president now owns 1,000 shares in the company, valued at $70,850. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Karen G. Narwold sold 1,243 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $91.00, for a total transaction of $113,113.00. Following the completion of the transaction, the executive vice president now owns 34,757 shares in the company, valued at $3,162,887. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. B. Riley Wealth Management Inc. bought a new position in Albemarle during the first quarter valued at approximately $214,000. Cleararc Capital Inc. bought a new position in Albemarle during the first quarter valued at approximately $211,000. Horizon Investments LLC bought a new position in Albemarle during the first quarter valued at approximately $242,000. Slow Capital Inc. grew its position in Albemarle by 4.3% during the first quarter. Slow Capital Inc. now owns 7,444 shares of the specialty chemicals company’s stock valued at $610,000 after acquiring an additional 309 shares during the last quarter. Finally, WealthPLAN Partners LLC grew its position in Albemarle by 6.0% during the first quarter. WealthPLAN Partners LLC now owns 84,861 shares of the specialty chemicals company’s stock valued at $5,904,000 after acquiring an additional 4,808 shares during the last quarter. Institutional investors own 94.20% of the company’s stock.
Albemarle Company Profile
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.
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