Albemarle (NYSE:ALB) had its target price lowered by Citigroup from $112.00 to $95.00 in a research report released on Tuesday morning. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.
Other equities analysts have also recently issued reports about the stock. UBS raised shares of Albemarle from a neutral rating to a buy rating and raised their target price for the company from $113.00 to $150.00 in a research note on Tuesday, January 30th. Jefferies Group cut their target price on shares of Albemarle to $150.00 and set a buy rating for the company in a research note on Friday, January 19th. Oppenheimer reaffirmed a buy rating on shares of Albemarle in a research note on Wednesday, January 17th. Loop Capital set a $150.00 target price on shares of Albemarle and gave the company a buy rating in a research note on Tuesday, December 19th. Finally, Argus started coverage on shares of Albemarle in a research note on Friday, February 23rd. They set a buy rating and a $148.00 target price for the company. Eight analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Albemarle presently has an average rating of Buy and an average price target of $125.89.
Shares of NYSE ALB opened at $93.39 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.06 and a quick ratio of 1.57. The firm has a market capitalization of $10,323.67, a PE ratio of 20.35, a PEG ratio of 1.11 and a beta of 1.66. Albemarle has a 1 year low of $86.75 and a 1 year high of $144.99.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th were paid a $0.335 dividend. This is a boost from Albemarle’s previous quarterly dividend of $0.32. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Wednesday, March 14th. Albemarle’s dividend payout ratio (DPR) is presently 29.19%.
Several large investors have recently modified their holdings of ALB. Global X Management Co. LLC lifted its holdings in shares of Albemarle by 497.9% in the 4th quarter. Global X Management Co. LLC now owns 1,506,961 shares of the specialty chemicals company’s stock worth $192,725,000 after acquiring an additional 1,254,927 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in shares of Albemarle by 47.9% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 10,677 shares of the specialty chemicals company’s stock worth $1,365,000 after acquiring an additional 3,460 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Albemarle by 0.5% in the 4th quarter. UBS Asset Management Americas Inc. now owns 321,542 shares of the specialty chemicals company’s stock worth $41,122,000 after acquiring an additional 1,460 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Albemarle by 37.6% in the 3rd quarter. Sterling Capital Management LLC now owns 15,015 shares of the specialty chemicals company’s stock worth $2,047,000 after acquiring an additional 4,103 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in shares of Albemarle by 106.0% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 5,870 shares of the specialty chemicals company’s stock worth $750,000 after acquiring an additional 3,020 shares during the last quarter. 86.38% of the stock is owned by institutional investors and hedge funds.
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Albemarle Company Profile
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.
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