Albemarle Corporation (NYSE:ALB) Receives Average Rating of “Moderate Buy” from Analysts

Albemarle Corporation (NYSE:ALB) has been assigned a consensus rating of “Moderate Buy” from the twenty-eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $170.24.

A number of research firms have recently issued reports on ALB. Wells Fargo & Company set a $165.00 target price on Albemarle in a report on Monday, February 16th. Morgan Stanley upped their price target on Albemarle from $147.00 to $170.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft increased their price objective on Albemarle from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. BMO Capital Markets raised their price objective on Albemarle from $145.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Finally, Berenberg Bank set a $153.00 target price on Albemarle in a research note on Monday, February 23rd.

Albemarle Price Performance

ALB stock opened at $163.15 on Friday. Albemarle has a one year low of $49.43 and a one year high of $206.00. The firm has a 50-day moving average of $171.56 and a two-hundred day moving average of $130.54. The firm has a market capitalization of $19.19 billion, a PE ratio of -28.37, a P/E/G ratio of 1.27 and a beta of 1.43. The company has a current ratio of 2.23, a quick ratio of 1.57 and a debt-to-equity ratio of 0.41.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.13). Albemarle had a negative net margin of 10.74% and a positive return on equity of 0.41%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the firm earned ($1.09) EPS. The firm’s revenue was up 15.9% compared to the same quarter last year. On average, analysts forecast that Albemarle will post -0.04 earnings per share for the current year.

Albemarle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.62 dividend on an annualized basis and a yield of 1.0%. Albemarle’s payout ratio is presently -28.17%.

Insiders Place Their Bets

In other Albemarle news, CEO J Kent Masters sold 11,783 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $170.81, for a total value of $2,012,654.23. Following the transaction, the chief executive officer owned 134,628 shares in the company, valued at approximately $22,995,808.68. This represents a 8.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Albemarle

A number of institutional investors have recently modified their holdings of ALB. Strategic Advocates LLC acquired a new position in shares of Albemarle in the third quarter worth $25,000. MH & Associates Securities Management Corp ADV acquired a new stake in Albemarle during the fourth quarter valued at $26,000. BOKF NA boosted its position in Albemarle by 5,771.4% during the third 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. Cromwell Holdings LLC increased its position 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 purchasing an additional 111 shares during the last quarter. Finally, Elyxium Wealth LLC acquired a new position in Albemarle in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

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.