Albemarle Corporation (NYSE:ALB) Given Average Recommendation of “Moderate Buy” by Analysts

Albemarle Corporation (NYSE:ALB) has been assigned an average recommendation of “Moderate Buy” from the twenty-seven analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, fifteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $202.5417.

A number of research analysts recently weighed in on the stock. Robert W. Baird reduced their price objective on shares of Albemarle from $236.00 to $224.00 and set a “neutral” rating for the company in a research note on Thursday, June 18th. Truist Financial raised their price target on Albemarle from $245.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Albemarle from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Zacks Research upgraded shares of Albemarle from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. Finally, Bank of America boosted their price target on shares of Albemarle from $190.00 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st.

Insider Buying and Selling

In other Albemarle news, CEO J Kent Masters sold 16,393 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $183.72, for a total transaction of $3,011,721.96. Following the sale, the chief executive officer owned 87,519 shares in the company, valued at $16,078,990.68. This trade represents a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Albemarle

Several institutional investors have recently modified their holdings of the company. Strategic Advocates LLC bought a new stake in Albemarle in the 3rd quarter worth approximately $25,000. MH & Associates Securities Management Corp ADV bought a new stake in Albemarle in the fourth quarter valued at approximately $26,000. BOKF NA boosted its position in Albemarle by 5,771.4% during the 3rd quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 404 shares during the period. Elyxium Wealth LLC bought a new stake in shares of Albemarle in the fourth quarter worth about $34,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Albemarle by 536.7% in the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 483 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Albemarle Price Performance

NYSE ALB opened at $133.69 on Friday. The company has a market cap of $15.77 billion, a PE ratio of -39.21, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. Albemarle has a 52 week low of $60.64 and a 52 week high of $221.00. The company has a quick ratio of 1.21, a current ratio of 2.07 and a debt-to-equity ratio of 0.23. The firm’s 50-day simple moving average is $176.64 and its two-hundred day simple moving average is $169.10.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share for the quarter, topping the consensus estimate of $1.24 by $1.71. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company earned ($0.18) earnings per share. The company’s revenue was up 32.7% on a year-over-year basis. Research analysts predict that Albemarle will post 12.98 earnings per share for the current year.

Albemarle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, June 12th. Albemarle’s payout ratio is currently -47.51%.

Albemarle Company Profile

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.