Albemarle (NYSE:ALB) Price Target Raised to $180.00 at Citigroup

Albemarle (NYSE:ALB) had its price objective lifted by Citigroup from $150.00 to $180.00 in a research report report published on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the specialty chemicals company’s stock.

Other analysts also recently issued reports about the company. Bank of America increased their price target on Albemarle from $118.00 to $167.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Dbs Bank raised their target price on Albemarle from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, October 24th. Deutsche Bank Aktiengesellschaft raised shares of Albemarle from a “hold” rating to a “buy” rating and upped their price objective for the stock from $125.00 to $185.00 in a research report on Monday, January 12th. Stephens reissued an “outperform” rating on shares of Albemarle in a report on Friday, December 19th. Finally, Truist Financial raised Albemarle from a “hold” rating to a “buy” rating and raised their target price for the stock from $125.00 to $205.00 in a research report on Wednesday. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $152.48.

Albemarle Trading Up 4.3%

NYSE ALB opened at $180.03 on Wednesday. The firm has a market capitalization of $21.19 billion, a PE ratio of -113.23, a price-to-earnings-growth ratio of 4.49 and a beta of 1.41. The business’s 50-day moving average price is $140.67 and its two-hundred day moving average price is $103.56. The company has a current ratio of 2.27, a quick ratio of 1.51 and a debt-to-equity ratio of 0.40. Albemarle has a 12 month low of $49.43 and a 12 month high of $181.06.

Albemarle (NYSE:ALB) last issued its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.73. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.27 billion. Albemarle had a positive return on equity of 0.10% and a negative net margin of 0.43%.The firm’s revenue was down 3.5% compared to the same quarter last year. During the same period last year, the company earned ($1.55) earnings per share. On average, analysts expect that Albemarle will post -0.04 EPS for the current year.

Albemarle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were issued 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 (DPR) is currently -101.89%.

Institutional Trading of Albemarle

Several institutional investors have recently added to or reduced their stakes in ALB. Hantz Financial Services Inc. grew its holdings in Albemarle by 10,050.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 402 shares during the last quarter. Strategic Advocates LLC bought a new position in shares of Albemarle during the third quarter valued at approximately $25,000. CVA Family Office LLC raised its stake in Albemarle by 7,257.1% during the second quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 508 shares during the last quarter. BOKF NA grew its position in Albemarle by 5,771.4% during the 3rd quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 404 shares during the last quarter. Finally, Cromwell Holdings LLC grew its holdings in shares of Albemarle by 36.8% during the third quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 111 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

About Albemarle

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.