Albemarle (NYSE:ALB) Price Target Raised to $140.00

Albemarle (NYSE:ALB) had its price target boosted by Deutsche Bank Aktiengesellschaft from $125.00 to $140.00 in a report published on Tuesday, Benzinga reports. They currently have a hold rating on the specialty chemicals company’s stock.

A number of other brokerages also recently weighed in on ALB. Royal Bank of Canada raised their target price on shares of Albemarle from $138.00 to $157.00 and gave the stock an outperform rating in a report on Monday. Wolfe Research began coverage on shares of Albemarle in a research report on Friday, March 1st. They set a peer perform rating for the company. UBS Group dropped their price objective on shares of Albemarle from $137.00 to $125.00 and set a neutral rating on the stock in a report on Thursday, February 15th. TD Cowen downgraded shares of Albemarle from an outperform rating to a market perform rating and decreased their price target for the stock from $220.00 to $130.00 in a research report on Monday, January 29th. Finally, Loop Capital cut their price objective on shares of Albemarle from $168.00 to $162.00 and set a buy rating for the company in a research report on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Albemarle currently has an average rating of Hold and an average price target of $172.05.

Albemarle Trading Up 0.1 %

Albemarle stock opened at $133.63 on Tuesday. Albemarle has a 12 month low of $106.69 and a 12 month high of $247.44. 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 business’s fifty day simple moving average is $123.39 and its two-hundred day simple moving average is $125.99. The company has a market capitalization of $15.71 billion, a price-to-earnings ratio of 48.56, a price-to-earnings-growth ratio of 2.80 and a beta of 1.65.

Albemarle (NYSE:ALB) last issued its earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.09). Albemarle had a return on equity of 14.53% and a net margin of 4.02%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the firm posted $10.32 earnings per share. The firm’s quarterly revenue was down 47.3% on a year-over-year basis. As a group, equities analysts predict that Albemarle will post 2.86 earnings per share for the current fiscal 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 given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, June 14th. Albemarle’s dividend payout ratio is presently 58.18%.

Institutional Investors Weigh In On Albemarle

A number of large investors have recently made changes to their positions in the stock. Kingfisher Capital LLC raised its stake in shares of Albemarle by 0.6% in the third quarter. Kingfisher Capital LLC now owns 14,117 shares of the specialty chemicals company’s stock worth $2,401,000 after purchasing an additional 82 shares during the last quarter. Patron Partners LLC grew its holdings in Albemarle by 5.8% during the third quarter. Patron Partners LLC now owns 1,541 shares of the specialty chemicals company’s stock worth $262,000 after acquiring an additional 85 shares during the period. Czech National Bank raised its position in Albemarle by 0.5% during the first quarter. Czech National Bank now owns 20,648 shares of the specialty chemicals company’s stock valued at $2,720,000 after acquiring an additional 95 shares in the last quarter. Regatta Capital Group LLC lifted its holdings in Albemarle by 4.3% in the fourth quarter. Regatta Capital Group LLC now owns 2,371 shares of the specialty chemicals company’s stock valued at $343,000 after acquiring an additional 97 shares during the period. Finally, USCF Advisers LLC boosted its position 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 purchasing an additional 100 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

About Albemarle

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.