Analysts Set Albemarle Co. (NYSE:ALB) PT at $115.65

Shares of Albemarle Co. (NYSE:ALB) have earned an average recommendation of “Hold” from the twenty-three ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $115.65.

A number of brokerages have recently weighed in on ALB. Wells Fargo & Company increased their price target on Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Oppenheimer dropped their target price on Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Mizuho reduced their price target on shares of Albemarle from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Robert W. Baird increased their price objective on shares of Albemarle from $79.00 to $103.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Finally, Royal Bank of Canada boosted their target price on shares of Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th.

Albemarle Price Performance

Shares of NYSE:ALB opened at $88.71 on Friday. The company has a market cap of $10.43 billion, a PE ratio of -5.30, a P/E/G ratio of 3.19 and a beta of 1.58. Albemarle has a fifty-two week low of $71.97 and a fifty-two week high of $143.19. The firm has a 50-day simple moving average of $96.87 and a 200 day simple moving average of $93.66. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43.

Albemarle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were given a $0.405 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.62 annualized dividend and a yield of 1.83%. Albemarle’s dividend payout ratio (DPR) is -9.67%.

Insider Activity

In other news, CEO J Kent Masters sold 2,525 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $101.12, for a total transaction of $255,328.00. Following the sale, the chief executive officer now directly owns 73,747 shares of the company’s stock, valued at $7,457,296.64. The trade was a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Albemarle

A number of institutional investors have recently bought and sold shares of ALB. Quarry LP boosted its holdings in shares of Albemarle by 1,400.0% in the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 252 shares during the period. Trust Co. of Vermont lifted its position in shares of Albemarle by 606.5% in the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 279 shares in the last quarter. Eastern Bank acquired a new position in Albemarle in the 3rd quarter worth approximately $31,000. First Community Trust NA grew its position in Albemarle by 55.0% during the 4th quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 142 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Albemarle by 48.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 136 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

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.