Albemarle (NYSE:ALB) Price Target Lowered to $109.00 at UBS Group

Albemarle (NYSE:ALBFree Report) had its price target lowered by UBS Group from $124.00 to $109.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

ALB has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Albemarle from $125.00 to $140.00 and gave the company a hold rating in a research note on Tuesday, May 7th. Piper Sandler decreased their price objective on shares of Albemarle from $122.00 to $95.00 and set an underweight rating for the company in a research note on Tuesday, June 25th. Oppenheimer decreased their price objective on shares of Albemarle from $188.00 to $178.00 and set an outperform rating for the company in a research note on Tuesday. Robert W. Baird decreased their price objective on shares of Albemarle from $170.00 to $127.00 and set an outperform rating for the company in a research note on Tuesday. Finally, Mizuho increased their price objective on shares of Albemarle from $112.00 to $128.00 and gave the company a neutral rating in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $152.95.

Get Our Latest Stock Analysis on Albemarle

Albemarle Price Performance

Shares of NYSE ALB opened at $90.46 on Tuesday. Albemarle has a fifty-two week low of $90.32 and a fifty-two week high of $247.44. The stock has a market cap of $10.63 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 2.97 and a beta of 1.57. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 2.84. The firm’s 50-day simple moving average is $114.76 and its 200 day simple moving average is $121.00.

Albemarle (NYSE:ALBGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.09). Albemarle had a net margin of 4.02% and a return on equity of 14.53%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the business posted $10.32 EPS. Albemarle’s revenue was down 47.3% compared to the same quarter last year. As a group, research analysts anticipate that Albemarle will post 2.07 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 1.77%. Albemarle’s dividend payout ratio is 58.18%.

Insider Activity at Albemarle

In other Albemarle news, SVP Mark Richard Mummert sold 843 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $135.53, for a total value of $114,251.79. Following the completion of the transaction, the senior vice president now directly owns 6,802 shares of the company’s stock, valued at approximately $921,875.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Albemarle news, SVP Mark Richard Mummert sold 843 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $135.53, for a total value of $114,251.79. Following the completion of the transaction, the senior vice president now directly owns 6,802 shares of the company’s stock, valued at approximately $921,875.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO John Clarence Barichivich III sold 1,475 shares of the firm’s stock in a transaction on 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 transaction, the chief accounting officer now directly owns 4,743 shares of the company’s stock, valued at $626,882.31. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Institutional Trading of Albemarle

A number of hedge funds have recently made changes to their positions in the stock. Czech National Bank lifted its holdings in shares of Albemarle by 0.5% during 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 during the last quarter. Regatta Capital Group LLC lifted its holdings in shares of Albemarle by 4.3% during 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 during the last quarter. USCF Advisers LLC lifted its stake 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 purchasing an additional 100 shares during the last quarter. Eagle Bay Advisors LLC lifted its stake in Albemarle by 45.0% in the first quarter. Eagle Bay Advisors LLC now owns 332 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 103 shares during the last quarter. Finally, New York Life Investment Management LLC lifted its stake in Albemarle by 0.6% in the fourth quarter. New York Life Investment Management LLC now owns 18,298 shares of the specialty chemicals company’s stock worth $2,644,000 after purchasing an additional 105 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Albemarle Company Profile

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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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