Robert W. Baird Has Lowered Expectations for Albemarle (NYSE:ALB) Stock Price

Albemarle (NYSE:ALB) had its target price cut by research analysts at Robert W. Baird from $236.00 to $224.00 in a note issued to investors on Thursday,MarketScreener reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. Robert W. Baird’s price target points to a potential upside of 35.14% from the company’s previous close.

ALB has been the topic of a number of other reports. Bank of America upped their target price on shares of Albemarle from $190.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Zacks Research upgraded shares of Albemarle from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. Wells Fargo & Company increased their price objective on shares of Albemarle from $165.00 to $200.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Argus raised their price objective on shares of Albemarle from $185.00 to $230.00 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, Mizuho boosted their target price on shares of Albemarle from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.54.

Albemarle Stock Down 0.5%

Shares of ALB opened at $165.75 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 2.07. The stock has a market capitalization of $19.55 billion, a PE ratio of -48.83, a P/E/G ratio of 0.84 and a beta of 1.30. The company’s 50-day simple moving average is $180.79 and its 200-day simple moving average is $168.25. Albemarle has a 1 year low of $55.90 and a 1 year high of $221.00.

Albemarle (NYSE:ALB) last released its earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $1.71. Albemarle had a positive return on equity of 5.22% and a negative net margin of 5.00%.The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the business posted ($0.18) earnings per share. Albemarle’s revenue was up 32.7% compared to the same quarter last year. Analysts forecast that Albemarle will post 12.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO J Kent Masters sold 16,393 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $183.72, for a total value of $3,011,721.96. Following the completion of the transaction, the chief executive officer owned 87,519 shares of the company’s stock, valued at approximately $16,078,990.68. The trade was a 15.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Institutional Trading of Albemarle

A number of hedge funds have recently bought and sold shares of ALB. Strategic Advocates LLC purchased a new position in shares of Albemarle during the 3rd quarter worth $25,000. MH & Associates Securities Management Corp ADV purchased a new position in Albemarle during the fourth quarter worth approximately $26,000. BOKF NA lifted 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 buying an additional 404 shares in the last quarter. Elyxium Wealth LLC purchased a new stake in Albemarle during the fourth quarter worth approximately $34,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Albemarle by 536.7% in the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 483 shares in the last quarter. 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.