Albemarle (NYSE:ALB) Price Target Raised to $210.00

Albemarle (NYSE:ALB) had its price target boosted by BMO Capital Markets from $145.00 to $210.00 in a report issued on Tuesday morning,MarketScreener reports. BMO Capital Markets currently has an outperform rating on the specialty chemicals company’s stock.

Other equities analysts have also recently issued research reports about the company. Stephens reissued an “outperform” rating on shares of Albemarle in a research report on Friday, December 19th. Oppenheimer upped their price target on Albemarle from $109.00 to $207.00 and gave the stock an “outperform” rating in a report on Wednesday. Jefferies Financial Group increased their price objective on Albemarle from $152.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, January 5th. Robert W. Baird set a $210.00 target price on shares of Albemarle and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Finally, Citigroup increased their price target on shares of Albemarle from $100.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, December 18th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $152.48.

Albemarle Price Performance

NYSE ALB opened at $187.97 on Tuesday. Albemarle has a 1 year low of $49.43 and a 1 year high of $189.18. The company has a fifty day simple moving average of $142.13 and a 200 day simple moving average of $104.14. The company has a current ratio of 2.27, a quick ratio of 1.51 and a debt-to-equity ratio of 0.40. The company has a market cap of $22.12 billion, a P/E ratio of -118.22, a P/E/G ratio of 4.68 and a beta of 1.41.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, November 5th. The specialty chemicals company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.73. Albemarle had a negative net margin of 0.43% and a positive return on equity of 0.10%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm posted ($1.55) EPS. The business’s quarterly revenue was down 3.5% on a year-over-year basis. On average, sell-side analysts predict that Albemarle will post -0.04 EPS for the current year.

Albemarle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were given a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, December 12th. Albemarle’s dividend payout ratio is -101.89%.

Institutional Investors Weigh In On Albemarle

Several large investors have recently modified their holdings of ALB. PGGM Investments lifted its stake in Albemarle by 10.8% in the third quarter. PGGM Investments now owns 1,185,005 shares of the specialty chemicals company’s stock valued at $96,080,000 after buying an additional 115,081 shares during the period. Occidental Asset Management LLC bought a new stake in shares of Albemarle in the 3rd quarter valued at about $3,313,000. CWM LLC raised its position in shares of Albemarle by 14.8% in the 3rd quarter. CWM LLC now owns 165,074 shares of the specialty chemicals company’s stock valued at $13,384,000 after acquiring an additional 21,257 shares during the period. AXQ Capital LP bought a new position in Albemarle during the 2nd quarter worth approximately $267,000. Finally, Empower Advisory Group LLC boosted its stake in Albemarle by 11.4% during the 2nd quarter. Empower Advisory Group LLC now owns 866,575 shares of the specialty chemicals company’s stock worth $54,308,000 after acquiring an additional 88,457 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

About Albemarle

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.