Albemarle Co. (NYSE:ALB) Receives $115.65 Average Target Price from Brokerages

Shares of Albemarle Co. (NYSE:ALB) have been given an average rating of “Hold” by the twenty-three analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $115.65.

Several equities research analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Robert W. Baird lifted their price objective on Albemarle from $79.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday, December 18th. KeyCorp lowered their target price on Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Clarkson Capital initiated coverage on Albemarle in a research note on Tuesday, January 14th. They issued a “buy” rating and a $112.00 price target on the stock. Finally, Royal Bank of Canada raised their price objective on Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th.

Insider Transactions at Albemarle

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $101.12, for a total transaction of $255,328.00. Following the sale, the chief executive officer now owns 73,747 shares in the company, valued at approximately $7,457,296.64. This trade represents a 3.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Quarry LP lifted its position in shares of Albemarle by 1,400.0% in the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 252 shares in the last quarter. Trust Co. of Vermont lifted its holdings in Albemarle by 606.5% in the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 279 shares in the last quarter. Eastern Bank bought a new position in Albemarle in the 3rd quarter worth approximately $31,000. Cromwell Holdings LLC raised its position in shares of Albemarle by 61.9% during the third quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 148 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its holdings in shares of Albemarle by 50.4% in the third quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Albemarle Price Performance

Shares of Albemarle stock opened at $89.89 on Friday. The business has a 50 day moving average of $97.17 and a 200 day moving average of $93.72. Albemarle has a 52 week low of $71.97 and a 52 week high of $143.19. The company has a market cap of $10.57 billion, a PE ratio of -5.37, a P/E/G ratio of 3.36 and a beta of 1.58. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43.

Albemarle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Friday, December 13th. Albemarle’s dividend payout ratio is presently -9.67%.

Albemarle Company Profile

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.