Albemarle (NYSE:ALB) Price Target Raised to $91.00 at Truist Financial

Albemarle (NYSE:ALB) had its price target hoisted by Truist Financial from $87.00 to $91.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has a hold rating on the specialty chemicals company’s stock.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group boosted their price objective on shares of Albemarle from $105.00 to $124.00 in a research report on Monday, October 27th. Rothschild & Co Redburn assumed coverage on shares of Albemarle in a research note on Friday, October 24th. They set a “buy” rating and a $135.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Albemarle in a research report on Wednesday, October 8th. TD Cowen raised their price objective on shares of Albemarle from $70.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, October 9th. Finally, Rothschild Redb upgraded Albemarle to a “strong-buy” rating in a research note on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fifteen have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, Albemarle presently has a consensus rating of “Hold” and a consensus target price of $95.74.

Albemarle Trading Up 6.4%

NYSE:ALB traded up $5.82 during mid-day trading on Friday, reaching $97.08. 4,480,146 shares of the company’s stock traded hands, compared to its average volume of 3,571,462. The company has a 50 day moving average price of $88.11 and a 200-day moving average price of $74.21. The firm has a market capitalization of $11.42 billion, a price-to-earnings ratio of -10.42 and a beta of 1.70. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.31 and a quick ratio of 1.47. Albemarle has a 12-month low of $49.43 and a 12-month high of $113.91.

Albemarle (NYSE:ALB) last issued its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.73. Albemarle had a negative return on equity of 1.87% and a negative net margin of 18.61%.The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the company earned ($1.55) EPS. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, sell-side analysts predict that Albemarle will post -0.04 earnings per share for the current year.

Albemarle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, December 12th. Albemarle’s dividend payout ratio is currently -101.89%.

Institutional Trading of Albemarle

A number of institutional investors and hedge funds have recently modified their holdings of ALB. Hantz Financial Services Inc. boosted its holdings in Albemarle by 10,050.0% in the second quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 402 shares during the last quarter. CVA Family Office LLC boosted its stake in shares of Albemarle by 7,257.1% in the 2nd quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 508 shares during the last quarter. National Pension Service grew its holdings in shares of Albemarle by 74.5% in the first quarter. National Pension Service now owns 452 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 193 shares during the period. Cromwell Holdings LLC increased its position in Albemarle by 36.8% during the third quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 111 shares during the last quarter. Finally, Costello Asset Management INC bought a new position in Albemarle in the first quarter valued at about $36,000. Institutional investors own 92.87% of the company’s stock.

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.