Albemarle (NYSE:ALB) Given New $109.00 Price Target at UBS Group

Albemarle (NYSE:ALBFree Report) had its price objective reduced by UBS Group from $124.00 to $109.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the specialty chemicals company’s stock.

A number of other brokerages have also recently commented on ALB. Piper Sandler reduced their price target on shares of Albemarle from $122.00 to $95.00 and set an underweight rating on the stock in a research report on Tuesday, June 25th. Wells Fargo & Company lifted their target price on shares of Albemarle from $135.00 to $145.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Robert W. Baird cut their price target on shares of Albemarle from $170.00 to $127.00 and set an outperform rating for the company in a research report on Tuesday. Scotiabank reaffirmed a sector perform rating and set a $135.00 price objective (down from $150.00) on shares of Albemarle in a research note on Tuesday, May 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Albemarle from $125.00 to $140.00 and gave the company a hold rating in a research note on Tuesday, May 7th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $150.16.

Read Our Latest Report on Albemarle

Albemarle Stock Performance

Albemarle stock opened at $97.95 on Tuesday. Albemarle has a fifty-two week low of $90.32 and a fifty-two week high of $246.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 2.84. The stock has a market cap of $11.51 billion, a P/E ratio of 35.62, a price-to-earnings-growth ratio of 2.99 and a beta of 1.57. The firm’s fifty day moving average price is $113.77 and its 200-day moving average price is $120.68.

Albemarle (NYSE:ALBGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.09). The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.29 billion. Albemarle had a return on equity of 14.53% and a net margin of 4.02%. The company’s revenue for the quarter was down 47.3% on a year-over-year basis. During the same period last year, the firm earned $10.32 EPS. On average, equities research analysts expect that Albemarle will post 2.07 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Friday, June 14th. Albemarle’s payout ratio is 58.18%.

Insider Buying and Selling

In related news, CAO John Clarence Barichivich III sold 1,475 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $132.17, for a total value of $194,950.75. Following the completion of the sale, the chief accounting officer now owns 4,743 shares of the company’s stock, valued at $626,882.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO John Clarence Barichivich III sold 1,475 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $132.17, for a total value of $194,950.75. Following the completion of the sale, the chief accounting officer now owns 4,743 shares of the company’s stock, valued at $626,882.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark Richard Mummert sold 843 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $135.53, for a total value of $114,251.79. Following the completion of the sale, the senior vice president now directly owns 6,802 shares of the company’s stock, valued at approximately $921,875.06. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. WFA Asset Management Corp bought a new position in shares of Albemarle during the first quarter valued at approximately $25,000. USCF Advisers LLC raised its stake in Albemarle by 100.0% during the fourth quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock valued at $29,000 after buying an additional 100 shares during the last quarter. Arlington Trust Co LLC bought a new stake in Albemarle in the fourth quarter worth $30,000. Jones Financial Companies Lllp grew its stake in shares of Albemarle by 2,942.9% in the fourth quarter. Jones Financial Companies Lllp now owns 213 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 206 shares during the last quarter. Finally, VisionPoint Advisory Group LLC increased its holdings in shares of Albemarle by 21,400.0% during the third quarter. VisionPoint Advisory Group LLC now owns 215 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 214 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

About Albemarle

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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.

Further Reading

Analyst Recommendations for Albemarle (NYSE:ALB)

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