Credit Suisse Group Begins Coverage on Albemarle (NYSE:ALB)

Credit Suisse Group began coverage on shares of Albemarle (NYSE:ALBGet Rating) in a research report report published on Monday morning, reports. The firm issued an underperform rating and a $185.00 price objective on the specialty chemicals company’s stock.

Other equities research analysts have also recently issued reports about the company. KeyCorp raised their price target on Albemarle from $215.00 to $217.00 and gave the company an underweight rating in a report on Tuesday, May 24th. Mizuho raised their price target on Albemarle from $243.00 to $293.00 in a report on Friday, May 6th. Deutsche Bank Aktiengesellschaft raised their price objective on Albemarle from $290.00 to $320.00 in a research report on Tuesday, May 24th. UBS Group lowered Albemarle from a buy rating to a neutral rating and cut their price objective for the company from $300.00 to $260.00 in a research report on Thursday, June 2nd. Finally, Cowen raised their price objective on Albemarle from $275.00 to $300.00 in a research report on Friday, May 6th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from, the company currently has a consensus rating of Hold and a consensus target price of $276.40.

Shares of ALB opened at $211.89 on Monday. The business’s fifty day simple moving average is $226.47 and its two-hundred day simple moving average is $218.87. The company has a current ratio of 1.11, a quick ratio of 0.63 and a debt-to-equity ratio of 0.33. Albemarle has a 12 month low of $163.20 and a 12 month high of $291.48. The company has a market cap of $24.82 billion, a price-to-earnings ratio of 89.03, a P/E/G ratio of 0.66 and a beta of 1.52.

Albemarle (NYSE:ALBGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The specialty chemicals company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.65. Albemarle had a return on equity of 10.35% and a net margin of 7.76%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the firm earned $1.10 EPS. The company’s revenue was up 36.0% compared to the same quarter last year. As a group, research analysts forecast that Albemarle will post 13.4 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 10th will be paid a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Thursday, June 9th. Albemarle’s dividend payout ratio is presently 66.39%.

Several institutional investors have recently bought and sold shares of ALB. Lowe Wealth Advisors LLC bought a new stake in shares of Albemarle during the first quarter valued at approximately $28,000. Covestor Ltd raised its stake in Albemarle by 51.2% in the first quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 44 shares in the last quarter. Quent Capital LLC bought a new position in Albemarle in the fourth quarter worth approximately $31,000. Larson Financial Group LLC bought a new position in Albemarle in the fourth quarter worth approximately $32,000. Finally, DeDora Capital Inc. bought a new position in Albemarle in the first quarter worth approximately $34,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

About Albemarle (Get Rating)

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.

Further Reading

Analyst Recommendations for Albemarle (NYSE:ALB)

Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with's FREE daily email newsletter.