Albemarle Co. (NYSE:ALB) Given Average Recommendation of “Hold” by Analysts

Shares of Albemarle Co. (NYSE:ALB) have been given an average recommendation of “Hold” by the twenty analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $96.05.

Several equities research analysts recently issued reports on ALB shares. Morgan Stanley dropped their target price on shares of Albemarle from $73.00 to $68.00 and set an “underweight” rating on the stock in a report on Tuesday, February 18th. Citigroup dropped their target price on shares of Albemarle from $85.00 to $64.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Albemarle from $109.00 to $105.00 in a report on Wednesday, February 12th. Truist Financial dropped their target price on shares of Albemarle from $85.00 to $65.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Finally, UBS Group dropped their target price on shares of Albemarle from $86.00 to $64.00 and set a “neutral” rating on the stock in a report on Monday, April 7th.

Albemarle Trading Up 1.3 %

NYSE:ALB opened at $58.50 on Tuesday. The company’s 50-day simple moving average is $68.11 and its 200 day simple moving average is $85.17. The firm has a market capitalization of $6.88 billion, a P/E ratio of -5.22 and a beta of 1.59. Albemarle has a one year low of $49.43 and a one year high of $137.50. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.95 and a quick ratio of 1.19.

Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts forecast that Albemarle will post -0.04 EPS for the current fiscal year.

Albemarle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.405 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.77%. Albemarle’s dividend payout ratio is currently -14.46%.

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 stock. MassMutual Private Wealth & Trust FSB raised its position in Albemarle by 48.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 136 shares during the period. First Community Trust NA grew its stake 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 valued at $34,000 after buying an additional 142 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of Albemarle by 3.9% during the fourth quarter. Metis Global Partners LLC now owns 3,908 shares of the specialty chemicals company’s stock valued at $336,000 after buying an additional 148 shares during the last quarter. SlateStone Wealth LLC grew its stake in shares of Albemarle by 3.3% during the fourth quarter. SlateStone Wealth LLC now owns 4,655 shares of the specialty chemicals company’s stock valued at $401,000 after buying an additional 150 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB grew its stake in shares of Albemarle by 5.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,982 shares of the specialty chemicals company’s stock valued at $257,000 after buying an additional 158 shares during the last quarter. 92.87% of the stock is currently 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.