Analysts Set Albemarle Corporation (NYSE:ALB) Price Target at $170.24

Albemarle Corporation (NYSE:ALB) has been given a consensus rating of “Moderate Buy” by the twenty-eight analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $170.24.

A number of analysts recently weighed in on ALB shares. JPMorgan Chase & Co. dropped their target price on Albemarle from $195.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Evercore lifted their price target on shares of Albemarle from $100.00 to $180.00 in a research note on Wednesday, February 18th. UBS Group boosted their price objective on shares of Albemarle from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Mizuho upped their price objective on shares of Albemarle from $156.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Finally, Scotiabank raised shares of Albemarle from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $85.00 to $200.00 in a report on Monday, January 12th.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Albemarle

Large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC boosted its holdings in Albemarle by 47.4% in the fourth quarter. Hsbc Holdings PLC now owns 230,690 shares of the specialty chemicals company’s stock valued at $32,655,000 after acquiring an additional 74,202 shares in the last quarter. Forty three Eighteen Advisors LLC purchased a new position in Albemarle during the 4th quarter valued at $952,000. Rockefeller Capital Management L.P. raised its holdings in Albemarle by 1.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 43,685 shares of the specialty chemicals company’s stock worth $6,179,000 after purchasing an additional 525 shares in the last quarter. Osbon Capital Management LLC purchased a new stake in shares of Albemarle in the 4th quarter worth about $65,000. Finally, Larry Mathis Financial Planning LLC purchased a new stake in shares of Albemarle in the 4th quarter worth about $579,000. Institutional investors own 92.87% of the company’s stock.

Albemarle Stock Down 4.1%

Shares of NYSE:ALB opened at $156.54 on Friday. The firm has a fifty day moving average price of $171.46 and a two-hundred day moving average price of $131.76. The company has a market cap of $18.42 billion, a price-to-earnings ratio of -27.22, a PEG ratio of 1.20 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.23 and a quick ratio of 1.57. Albemarle has a one year low of $49.43 and a one year high of $206.00.

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

Albemarle Dividend Announcement

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

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.