Albemarle Co. (NYSE:ALB) Receives $115.74 Average Target Price from Brokerages

Albemarle Co. (NYSE:ALB) has been given an average rating of “Hold” by the twenty-two ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $115.74.

A number of equities research analysts recently commented on ALB shares. Royal Bank of Canada raised their price objective on shares of Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Oppenheimer decreased their price target on Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Wells Fargo & Company upped their price objective on Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Robert W. Baird boosted their target price on shares of Albemarle from $79.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. Finally, KeyCorp cut their price target on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th.

Albemarle Stock Down 1.0 %

ALB stock opened at $88.29 on Wednesday. The stock has a market capitalization of $10.38 billion, a PE ratio of -5.27 and a beta of 1.56. The company has a fifty day moving average of $100.40 and a 200-day moving average of $94.87. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44. Albemarle has a one year low of $71.97 and a one year high of $151.79.

Albemarle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.405 per share. The ex-dividend date is Friday, December 13th. This represents a $1.62 annualized dividend and a dividend yield of 1.83%. Albemarle’s dividend payout ratio is currently -9.67%.

Insider Transactions at Albemarle

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

Institutional Investors Weigh In On Albemarle

Several hedge funds have recently made changes to their positions in ALB. Quarry LP lifted its position in Albemarle by 1,400.0% during the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 252 shares during the period. Eastern Bank purchased a new position in shares of Albemarle during the 3rd quarter worth about $31,000. Cromwell Holdings LLC boosted its position in shares of Albemarle by 61.9% in the third quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 148 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in Albemarle by 50.4% in the third quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 132 shares during the period. Finally, Cornerstone Advisors LLC increased its position in Albemarle by 100.0% during the third quarter. Cornerstone Advisors LLC now owns 400 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

About Albemarle

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.