Albemarle (NYSE:ALB) Price Target Raised to $110.00

Albemarle (NYSE:ALB) had its price target boosted by Deutsche Bank Aktiengesellschaft from $95.00 to $110.00 in a research report released on Tuesday,MarketScreener reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the specialty chemicals company’s stock.

ALB has been the subject of a number of other reports. Wells Fargo & Company raised their price target on shares of Albemarle from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday. HSBC raised their target price on Albemarle from $75.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, November 7th. Truist Financial boosted their price target on Albemarle from $87.00 to $91.00 and gave the stock a “hold” rating in a research note on Friday, November 7th. Bank of America reissued a “neutral” rating and issued a $100.00 price target (up previously from $95.00) on shares of Albemarle in a report on Tuesday, October 14th. Finally, Baird R W downgraded Albemarle from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, sixteen have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Albemarle has an average rating of “Hold” and a consensus target price of $99.38.

Albemarle Price Performance

ALB stock opened at $114.59 on Tuesday. The firm has a market cap of $13.49 billion, a P/E ratio of -12.30 and a beta of 1.70. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 2.31. Albemarle has a 1 year low of $49.43 and a 1 year high of $119.28. The stock has a 50-day simple moving average of $90.28 and a 200-day simple moving average of $75.64.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.73. Albemarle had a negative return on equity of 1.87% and a negative net margin of 18.61%.The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the business earned ($1.55) EPS. Albemarle’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, equities analysts predict that Albemarle will post -0.04 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, December 12th. Albemarle’s dividend payout ratio is presently -101.89%.

Institutional Investors Weigh In On Albemarle

Several large investors have recently added to or reduced their stakes in ALB. Hantz Financial Services Inc. lifted its stake in Albemarle by 10,050.0% in the second quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 402 shares during the last quarter. CVA Family Office LLC increased its holdings in shares of Albemarle by 7,257.1% in the 2nd quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 508 shares during the period. National Pension Service lifted its position in Albemarle by 74.5% in the 1st quarter. National Pension Service now owns 452 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 193 shares during the last quarter. BOKF NA boosted its stake 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 period. Finally, Cromwell Holdings LLC grew 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. 92.87% of the stock is owned by institutional investors and hedge funds.

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.