Albemarle (NYSE:ALB) Price Target Lowered to $85.00 at Truist Financial

Albemarle (NYSE:ALB) had its target price lowered by Truist Financial from $96.00 to $85.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the specialty chemicals company’s stock. Truist Financial’s price objective would indicate a potential upside of 5.32% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Mizuho reduced their price objective on Albemarle from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. UBS Group reduced their price target on Albemarle from $99.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Albemarle from $109.00 to $105.00 in a research note on Wednesday. Citigroup reduced their price target on shares of Albemarle from $115.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Robert W. Baird cut their price target on Albemarle from $103.00 to $92.00 and set a “neutral” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Albemarle has a consensus rating of “Hold” and an average price target of $112.62.

Albemarle Stock Up 1.8 %

Shares of ALB stock traded up $1.46 during mid-day trading on Friday, reaching $80.71. 764,223 shares of the company’s stock traded hands, compared to its average volume of 2,420,050. The company’s 50-day moving average price is $89.56 and its 200-day moving average price is $92.39. The company has a market cap of $9.49 billion, a P/E ratio of -4.83, a P/E/G ratio of 3.43 and a beta of 1.59. 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 has a 12 month low of $71.97 and a 12 month high of $143.19.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, February 12th. The specialty chemicals company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.49). Albemarle had a positive return on equity of 1.67% and a negative net margin of 28.80%. On average, equities analysts expect that Albemarle will post -1.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the stock in a transaction on Thursday, December 5th. The stock was 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 of the company’s stock, valued at approximately $7,457,296.64. This trade represents a 3.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Quarry LP lifted its holdings in shares of Albemarle by 1,400.0% in the 3rd quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 252 shares during the period. Assetmark Inc. lifted its holdings in Albemarle by 340.6% in the fourth quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 235 shares during the period. Trust Co. of Vermont boosted its position 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 acquired a new stake in shares of Albemarle during the 3rd quarter worth approximately $31,000. Finally, First Community Trust NA grew its stake in shares of Albemarle by 55.0% during the 4th quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 142 shares during the period. Hedge funds and other institutional investors 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.