Shares of Albemarle Co. (NYSE:ALB - Get Free Report) have been assigned an average rating of "Hold" from the twenty-one research firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $94.24.
A number of analysts have recently issued reports on ALB shares. Wells Fargo & Company lowered their price objective on shares of Albemarle from $80.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Clarkson Capital began coverage on shares of Albemarle in a research report on Tuesday, January 14th. They set a "buy" rating and a $112.00 price target on the stock. Royal Bank of Canada decreased their price objective on Albemarle from $133.00 to $114.00 and set an "overweight" rating for the company in a report on Wednesday, February 12th. Truist Financial dropped their target price on Albemarle from $85.00 to $65.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Albemarle from $109.00 to $105.00 in a research note on Wednesday, February 12th.
Check Out Our Latest Report on ALB
Institutional Trading of Albemarle
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Manning & Napier Advisors LLC acquired a new position in Albemarle in the fourth quarter valued at about $85,570,000. Norges Bank acquired a new position in shares of Albemarle in the fourth quarter valued at approximately $39,405,000. Vanguard Group Inc. increased its position in Albemarle by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 14,594,499 shares of the specialty chemicals company's stock valued at $1,256,294,000 after acquiring an additional 359,014 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Albemarle by 36.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,192,527 shares of the specialty chemicals company's stock worth $102,653,000 after buying an additional 320,150 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Albemarle by 6,393.1% in the first quarter. GAMMA Investing LLC now owns 152,394 shares of the specialty chemicals company's stock valued at $10,975,000 after acquiring an additional 150,047 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.
Albemarle Stock Up 1.5 %
ALB traded up $0.91 during trading on Tuesday, hitting $60.23. The company had a trading volume of 3,470,004 shares, compared to its average volume of 2,752,655. The company has a market capitalization of $7.09 billion, a PE ratio of -5.38 and a beta of 1.59. The company has a quick ratio of 1.19, a current ratio of 1.95 and a debt-to-equity ratio of 0.39. Albemarle has a one year low of $49.43 and a one year high of $137.50. The firm's 50-day moving average price is $66.40 and its 200 day moving average price is $84.19.
Albemarle (NYSE:ALB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The specialty chemicals company reported ($0.18) EPS for the quarter, beating analysts' consensus estimates of ($0.62) by $0.44. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.18 billion. Albemarle had a negative return on equity of 1.72% and a negative net margin of 21.93%. The company's quarterly revenue was down 20.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 earnings per share. As a group, equities analysts expect that Albemarle will post -0.04 earnings per share for the current year.
Albemarle Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Friday, March 14th. Albemarle's dividend payout ratio is -14.46%.
Albemarle Company Profile
(
Get Free ReportAlbemarle 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.
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