Brokerages Set Albemarle Corporation (NYSE:ALB) Price Target at $199.87

Albemarle Corporation (NYSE:ALB) has earned an average rating of “Moderate Buy” from the twenty-seven ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $199.8696.

ALB has been the topic of a number of recent research reports. UBS Group raised their price target on shares of Albemarle from $230.00 to $264.00 and gave the company a “buy” rating in a report on Friday, May 8th. Weiss Ratings raised shares of Albemarle from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, May 7th. Morgan Stanley raised their target price on Albemarle from $170.00 to $189.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Robert W. Baird reduced their price target on Albemarle from $236.00 to $224.00 and set a “neutral” rating for the company in a research report on Thursday, June 18th. Finally, Vertical Research upgraded Albemarle from a “hold” rating to a “buy” rating and set a $224.00 price target for the company in a research note on Tuesday, May 26th.

Insider Transactions at Albemarle

In other news, CEO J Kent Masters sold 16,393 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer owned 87,519 shares in the company, valued at approximately $16,078,990.68. This trade represents a 15.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.42% of the stock is owned by company insiders.

Institutional Trading of Albemarle

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Evexia Wealth LLC lifted its position in shares of Albemarle by 2.3% in the 1st quarter. Evexia Wealth LLC now owns 2,088 shares of the specialty chemicals company’s stock worth $387,000 after buying an additional 47 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Albemarle by 2.5% during the 4th quarter. Parallel Advisors LLC now owns 2,468 shares of the specialty chemicals company’s stock valued at $349,000 after buying an additional 60 shares during the last quarter. Eaton Financial Holdings Company LLC raised its stake in Albemarle by 1.2% during the fourth quarter. Eaton Financial Holdings Company LLC now owns 5,769 shares of the specialty chemicals company’s stock worth $816,000 after acquiring an additional 66 shares during the period. Sigma Planning Corp raised its stake in Albemarle by 2.3% during the first quarter. Sigma Planning Corp now owns 2,952 shares of the specialty chemicals company’s stock worth $530,000 after acquiring an additional 66 shares during the period. Finally, Signature Estate & Investment Advisors LLC lifted its holdings in Albemarle by 1.9% in the fourth quarter. Signature Estate & Investment Advisors LLC now owns 3,592 shares of the specialty chemicals company’s stock worth $508,000 after acquiring an additional 67 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Stock Performance

Shares of Albemarle stock opened at $114.88 on Thursday. The stock has a market cap of $13.55 billion, a PE ratio of -33.69 and a beta of 1.34. The business has a fifty day simple moving average of $148.42 and a 200-day simple moving average of $167.23. The company has a quick ratio of 1.21, a current ratio of 2.07 and a debt-to-equity ratio of 0.23. Albemarle has a 12 month low of $64.95 and a 12 month high of $221.00.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $1.71. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the firm earned ($0.18) earnings per share. The firm’s revenue was up 32.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Albemarle will post 12.86 EPS for the current fiscal year.

Albemarle Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.4%. This is a positive change from Albemarle’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, September 11th. Albemarle’s dividend payout ratio is currently -47.51%.

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.