Albemarle (NYSE:ALB) Given New $122.00 Price Target at KeyCorp

Albemarle (NYSE:ALB) had its target price cut by KeyCorp from $127.00 to $122.00 in a research note released on Friday morning,Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets decreased their price objective on Albemarle from $150.00 to $140.00 in a report on Wednesday. Royal Bank of Canada decreased their price objective on Albemarle from $133.00 to $114.00 and set an “overweight” rating on the stock in a report on Wednesday. Truist Financial reduced their target price on Albemarle from $96.00 to $85.00 and set a “hold” rating on the stock in a report on Friday. Clarkson Capital assumed coverage on Albemarle in a report on Tuesday, January 14th. They issued a “buy” rating and a $112.00 target price on the stock. Finally, Oppenheimer reduced their target price on Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $112.38.

Albemarle Trading Up 2.5 %

Shares of ALB opened at $81.20 on Friday. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. The stock’s 50-day moving average price is $89.09 and its 200 day moving average price is $92.32. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of -4.85, a P/E/G ratio of 3.43 and a beta of 1.59. Albemarle has a 12-month low of $71.97 and a 12-month high of $143.19.

Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.49). Albemarle had a negative net margin of 28.80% and a positive return on equity of 1.67%. As a group, research analysts predict that Albemarle will post -1.55 earnings per share for the current year.

Insider Buying and Selling at Albemarle

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

Institutional Trading of Albemarle

Several institutional investors and hedge funds have recently made changes to their positions in ALB. AMF Tjanstepension AB bought a new stake in shares of Albemarle during the 3rd quarter valued at $692,000. Exchange Traded Concepts LLC increased its position in shares of Albemarle by 32.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,817 shares of the specialty chemicals company’s stock valued at $172,000 after buying an additional 444 shares in the last quarter. Marshall Financial Group LLC bought a new stake in shares of Albemarle in the 3rd quarter valued at $205,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Albemarle by 2.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,682 shares of the specialty chemicals company’s stock valued at $1,012,000 after buying an additional 248 shares in the last quarter. Finally, Meridian Financial Partners LLC bought a new stake in shares of Albemarle in the 3rd quarter valued at $799,000. 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.