Morgan Stanley Cuts Albemarle (NYSE:ALB) Price Target to $68.00

Albemarle (NYSE:ALB) had its price objective cut by analysts at Morgan Stanley from $73.00 to $68.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the specialty chemicals company’s stock. Morgan Stanley’s price target suggests a potential downside of 18.75% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. BMO Capital Markets decreased their target price on Albemarle from $150.00 to $140.00 in a research report on Wednesday, February 12th. Mizuho lowered their price target on shares of Albemarle from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Clarkson Capital assumed coverage on shares of Albemarle in a report on Tuesday, January 14th. They set a “buy” rating and a $112.00 price objective on the stock. UBS Group lowered their target price on Albemarle from $99.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, Evercore ISI downgraded Albemarle from an “outperform” rating to an “inline” rating in a report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $109.91.

Albemarle Trading Up 3.1 %

ALB stock traded up $2.48 during mid-day trading on Tuesday, reaching $83.69. 2,002,054 shares of the stock traded hands, compared to its average volume of 2,467,229. The business has a 50-day moving average price of $88.52 and a two-hundred day moving average price of $92.22. The stock has a market capitalization of $9.84 billion, a PE ratio of -5.00, a PEG ratio of 3.43 and a beta of 1.59. 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 $143.19.

Albemarle (NYSE:ALB) last posted 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 positive return on equity of 1.67% and a negative net margin of 28.80%. Equities research analysts expect that Albemarle will post -1.55 EPS 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 that occurred on Thursday, December 5th. The stock was sold at an average price of $101.12, for a total value of $255,328.00. Following the sale, the chief executive officer now owns 73,747 shares in the company, valued at approximately $7,457,296.64. This represents a 3.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Albemarle

Several large investors have recently made changes to their positions in ALB. Charles Schwab Investment Management Inc. increased its holdings in Albemarle by 38.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,020,590 shares of the specialty chemicals company’s stock valued at $96,660,000 after buying an additional 282,194 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Albemarle by 71.5% in the 4th quarter. Pacer Advisors Inc. now owns 14,948 shares of the specialty chemicals company’s stock valued at $1,287,000 after purchasing an additional 6,234 shares in the last quarter. Bristlecone Advisors LLC raised its holdings in Albemarle by 20.5% in the 4th quarter. Bristlecone Advisors LLC now owns 28,824 shares of the specialty chemicals company’s stock worth $2,481,000 after purchasing an additional 4,899 shares during the period. Empower Advisory Group LLC boosted its position in Albemarle by 28.7% during the third quarter. Empower Advisory Group LLC now owns 705,719 shares of the specialty chemicals company’s stock worth $66,839,000 after purchasing an additional 157,319 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Albemarle by 28.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 423,049 shares of the specialty chemicals company’s stock valued at $40,067,000 after purchasing an additional 93,718 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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.