Albemarle (NYSE:ALB) Price Target Raised to $133.00

Albemarle (NYSE:ALB) had its price objective increased by Royal Bank of Canada from $108.00 to $133.00 in a research report released on Tuesday,Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

A number of other equities research analysts have also recently issued reports on ALB. Hsbc Global Res upgraded Albemarle to a “hold” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. reduced their target price on Albemarle from $115.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, August 19th. Oppenheimer reduced their target price on Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Scotiabank reduced their target price on Albemarle from $135.00 to $85.00 and set a “sector perform” rating for the company in a report on Tuesday, August 6th. Finally, Wells Fargo & Company lifted their target price on Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $114.47.

Albemarle Stock Down 1.5 %

Albemarle stock traded down $1.53 during midday trading on Tuesday, reaching $100.57. The stock had a trading volume of 183,655 shares, compared to its average volume of 2,961,007. Albemarle has a 12 month low of $71.97 and a 12 month high of $153.54. The firm’s 50-day moving average price is $94.99 and its 200 day moving average price is $100.22. The company has a current ratio of 2.44, a quick ratio of 1.58 and a debt-to-equity ratio of 0.43.

Albemarle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a dividend of $0.405 per share. The ex-dividend date is Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.61%. Albemarle’s dividend payout ratio is presently -9.67%.

Institutional Investors Weigh In On Albemarle

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Community Trust NA purchased a new stake in Albemarle in the second quarter worth $25,000. CVA Family Office LLC grew its stake in Albemarle by 610.0% in the second quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 244 shares during the period. Eastern Bank purchased a new stake in Albemarle in the third quarter worth $31,000. Eagle Bay Advisors LLC grew its stake in Albemarle by 45.0% in the first quarter. Eagle Bay Advisors LLC now owns 332 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 103 shares during the period. Finally, Cromwell Holdings LLC grew its stake 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. 92.87% of the stock is owned by hedge funds and other institutional investors.

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.