Shares of Albemarle Co. (NYSE:ALB) have received a consensus recommendation of “Buy” from the twenty-three brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $118.09.
Several brokerages have issued reports on ALB. Loop Capital set a $130.00 target price on shares of Albemarle and gave the stock a “buy” rating in a report on Friday, October 19th. ValuEngine cut shares of Albemarle from a “hold” rating to a “sell” rating in a report on Wednesday, November 28th. Vertical Research initiated coverage on shares of Albemarle in a report on Tuesday, September 25th. They set a “sell” rating and a $85.00 price objective for the company. Vertical Group initiated coverage on shares of Albemarle in a report on Tuesday, September 25th. They set a “sell” rating and a $85.00 price objective for the company. Finally, Zacks Investment Research raised shares of Albemarle from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a report on Thursday, December 20th.
Shares of NYSE ALB opened at $77.41 on Friday. Albemarle has a 1 year low of $71.89 and a 1 year high of $135.81. The stock has a market cap of $8.16 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 0.77 and a beta of 1.64. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.83 and a quick ratio of 1.18.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Friday, December 14th were given a dividend of $0.335 per share. The ex-dividend date was Thursday, December 13th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.73%. Albemarle’s dividend payout ratio is 29.19%.
In related news, EVP Karen G. Narwold sold 3,100 shares of the company’s stock in a transaction on Monday, November 26th. The shares were sold at an average price of $96.54, for a total transaction of $299,274.00. Following the completion of the transaction, the executive vice president now owns 27,142 shares in the company, valued at $2,620,288.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Scott Tozier sold 3,343 shares of the company’s stock in a transaction on Friday, January 4th. The shares were sold at an average price of $74.55, for a total transaction of $249,220.65. Following the sale, the chief financial officer now directly owns 46,711 shares in the company, valued at approximately $3,482,305.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,738 shares of company stock valued at $645,309. 0.80% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group boosted its stake in shares of Albemarle by 3,087.5% during the third quarter. Rehmann Capital Advisory Group now owns 255 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 247 shares during the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of Albemarle by 17,210.0% in the 3rd quarter. Valeo Financial Advisors LLC now owns 1,731 shares of the specialty chemicals company’s stock worth $171,000 after purchasing an additional 1,721 shares during the period. Evercore Wealth Management LLC purchased a new position in shares of Albemarle in the 3rd quarter worth about $202,000. Palladium Partners LLC purchased a new position in shares of Albemarle in the 3rd quarter worth about $205,000. Finally, Hudson Valley Investment Advisors Inc. ADV purchased a new position in shares of Albemarle in the 3rd quarter worth about $215,000. 92.51% of the stock is currently owned by institutional investors.
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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