Albemarle (NYSE:ALB) PT Lowered to $127.00 at Robert W. Baird

Albemarle (NYSE:ALB) had its target price trimmed by Robert W. Baird from $170.00 to $127.00 in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has an outperform rating on the specialty chemicals company’s stock.

Several other research analysts also recently weighed in on the stock. Scotiabank reissued a sector perform rating and issued a $135.00 target price (down from $150.00) on shares of Albemarle in a research report on Tuesday, May 21st. Mizuho raised their target price on Albemarle from $112.00 to $128.00 and gave the stock a neutral rating in a research report on Thursday, May 2nd. Loop Capital lowered their price target on Albemarle from $168.00 to $162.00 and set a buy rating on the stock in a report on Friday, March 15th. Royal Bank of Canada reissued an outperform rating and issued a $157.00 price objective on shares of Albemarle in a research note on Friday, May 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Albemarle from $125.00 to $140.00 and gave the stock a hold rating in a research report 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 stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $150.16.

Albemarle Stock Performance

ALB opened at $97.95 on Tuesday. The company has a market capitalization of $11.51 billion, a price-to-earnings ratio of 35.62, a price-to-earnings-growth ratio of 2.99 and a beta of 1.57. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.84 and a quick ratio of 1.91. The business has a 50 day moving average price of $113.77 and a two-hundred day moving average price of $120.68. Albemarle has a 1-year low of $90.32 and a 1-year high of $246.71.

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

Albemarle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were issued a dividend of $0.40 per share. 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 dividend payout ratio (DPR) is 58.18%.

Insiders Place Their Bets

In other Albemarle news, CAO John Clarence Barichivich III sold 1,475 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 4,743 shares of the company’s stock, valued at approximately $626,882.31. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Albemarle news, CAO John Clarence Barichivich III sold 1,475 shares of Albemarle stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $132.17, for a total transaction of $194,950.75. Following the sale, the chief accounting officer now directly owns 4,743 shares of the company’s stock, valued at $626,882.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mark Richard Mummert sold 843 shares of the 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 transaction, the senior vice president now owns 6,802 shares of the company’s stock, valued at $921,875.06. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Albemarle

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. WFA Asset Management Corp bought a new position in shares of Albemarle in the first quarter valued at approximately $25,000. CVA Family Office LLC increased its holdings in Albemarle by 610.0% during the 2nd quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 244 shares in the last quarter. USCF Advisers LLC raised its position in Albemarle by 100.0% in the 4th quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. Arlington Trust Co LLC bought a new stake in shares of Albemarle during the fourth quarter worth $30,000. Finally, Jones Financial Companies Lllp increased 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 valued at $31,000 after buying an additional 206 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Company Profile

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.