Albemarle (NYSE:ALB) Price Target Lowered to $64.00 at Citigroup

Albemarle (NYSE:ALB) had its price objective decreased by Citigroup from $85.00 to $64.00 in a research report sent to investors on Tuesday morning, Marketbeat.com reports. Citigroup currently has a neutral rating on the specialty chemicals company’s stock.

Other research analysts have also issued reports about the company. Morgan Stanley dropped their target price on Albemarle from $73.00 to $68.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 18th. BMO Capital Markets cut their target price on shares of Albemarle from $150.00 to $140.00 in a research note on Wednesday, February 12th. Truist Financial dropped their price objective on shares of Albemarle from $85.00 to $65.00 and set a “hold” rating for the company in a research note on Monday. Mizuho dropped their target price on shares of Albemarle from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Finally, Wells Fargo & Company lowered their target price on Albemarle from $80.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $96.05.

Albemarle Trading Down 5.9 %

NYSE:ALB opened at $54.00 on Tuesday. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of -4.82 and a beta of 1.59. The business’s 50-day simple moving average is $72.46 and its 200 day simple moving average is $88.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.19 and a current ratio of 1.95. Albemarle has a one year low of $49.43 and a one year high of $137.50.

Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.49). Albemarle had a negative return on equity of 1.72% and a negative net margin of 21.93%. As a group, sell-side analysts predict that Albemarle will post -0.04 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.405 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.62 annualized dividend and a yield of 3.00%. Albemarle’s dividend payout ratio (DPR) is -14.46%.

Hedge Funds Weigh In On Albemarle

A number of institutional investors have recently modified their holdings of ALB. Assetmark Inc. raised its holdings in shares of Albemarle by 340.6% during the fourth quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 235 shares during the last quarter. Trust Co. of Vermont raised its stake in shares of Albemarle by 606.5% in the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 279 shares during the period. SJS Investment Consulting Inc. acquired a new stake in shares of Albemarle in the first quarter valued at $32,000. First Community Trust NA lifted its position in shares of Albemarle by 55.0% during the fourth quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 142 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Albemarle in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Albemarle Company Profile

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.