Albemarle (NYSE:ALB) Upgraded at Hsbc Global Res

Hsbc Global Res upgraded shares of Albemarle (NYSE:ALB) from a hold rating to a strong-buy rating in a research note published on Sunday morning,Zacks.com reports.

Several other research analysts also recently commented on the company. Argus lifted their target price on Albemarle from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Truist Financial set a $125.00 price target on shares of Albemarle in a report on Wednesday, December 17th. Mizuho upped their price objective on shares of Albemarle from $132.00 to $156.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Baird R W upgraded shares of Albemarle from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 7th. Finally, Rothschild Redb upgraded shares of Albemarle to a “strong-buy” rating in a report on Friday, October 24th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Albemarle presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.21.

Albemarle Stock Performance

NYSE:ALB opened at $172.51 on Friday. Albemarle has a twelve month low of $49.43 and a twelve month high of $179.14. The company has a quick ratio of 1.51, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The stock’s 50-day simple moving average is $139.27 and its 200 day simple moving average is $103.02. The firm has a market capitalization of $20.30 billion, a PE ratio of -108.49, a price-to-earnings-growth ratio of 6.22 and a beta of 1.41.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the firm posted ($1.55) earnings per share. The company’s revenue was down 3.5% on a year-over-year basis. On average, analysts anticipate that Albemarle will post -0.04 EPS for the current fiscal year.

Albemarle Announces Dividend

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

Institutional Investors Weigh In On Albemarle

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Per Stirling Capital Management LLC. lifted its stake in shares of Albemarle by 2.8% in the 3rd quarter. Per Stirling Capital Management LLC. now owns 3,332 shares of the specialty chemicals company’s stock valued at $270,000 after acquiring an additional 91 shares during the last quarter. Signaturefd LLC boosted its position in Albemarle by 7.8% during the 4th quarter. Signaturefd LLC now owns 1,402 shares of the specialty chemicals company’s stock valued at $198,000 after buying an additional 102 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Albemarle by 18.2% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 677 shares of the specialty chemicals company’s stock worth $55,000 after acquiring an additional 104 shares during the last quarter. Cromwell Holdings LLC grew its holdings in Albemarle by 36.8% in the 3rd quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock worth $34,000 after acquiring an additional 111 shares during the last quarter. Finally, Money Concepts Capital Corp increased its position in shares of Albemarle by 1.2% in the third quarter. Money Concepts Capital Corp now owns 10,160 shares of the specialty chemicals company’s stock valued at $824,000 after acquiring an additional 116 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Albemarle Company Profile

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.