Albemarle (NYSE:ALB) Price Target Raised to $210.00 at BMO Capital Markets

Albemarle (NYSE:ALB) had its target price upped by BMO Capital Markets from $145.00 to $210.00 in a research report sent to investors on Tuesday morning,MarketScreener reports. The firm currently has an outperform rating on the specialty chemicals company’s stock.

Several other research analysts also recently weighed in on the company. Zacks Research upgraded Albemarle from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Morgan Stanley reiterated an “equal weight” rating on shares of Albemarle in a research report on Friday, December 19th. Baird R W upgraded shares of Albemarle from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 7th. Citigroup upped their price objective on Albemarle from $100.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, December 18th. Finally, Truist Financial upgraded shares of Albemarle from a “hold” rating to a “buy” rating and lifted their target price for the stock from $125.00 to $205.00 in a research report on Wednesday. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $151.28.

Albemarle Stock Performance

ALB stock traded up $6.50 during midday trading on Tuesday, hitting $179.04. The company’s stock had a trading volume of 1,469,089 shares, compared to its average volume of 3,463,030. The stock has a market cap of $21.07 billion, a price-to-earnings ratio of -112.57, a PEG ratio of 6.22 and a beta of 1.41. The stock’s 50-day moving average price is $139.27 and its 200 day moving average price is $103.02. The company has a quick ratio of 1.51, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. Albemarle has a 1 year low of $49.43 and a 1 year high of $180.00.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.73. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.27 billion. Albemarle had a negative net margin of 0.43% and a positive return on equity of 0.10%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.55) earnings per share. On average, equities analysts forecast that Albemarle will post -0.04 EPS for the current year.

Albemarle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were paid a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, December 12th. Albemarle’s dividend payout ratio is presently -101.89%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ALB. Per Stirling Capital Management LLC. grew its stake in shares of Albemarle by 2.8% in the 3rd quarter. Per Stirling Capital Management LLC. now owns 3,332 shares of the specialty chemicals company’s stock worth $270,000 after buying an additional 91 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Albemarle by 7.8% during the fourth quarter. Signaturefd LLC now owns 1,402 shares of the specialty chemicals company’s stock valued at $198,000 after purchasing an additional 102 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Albemarle by 18.2% during the third quarter. EverSource Wealth Advisors LLC now owns 677 shares of the specialty chemicals company’s stock valued at $55,000 after purchasing an additional 104 shares during the period. Cromwell Holdings LLC boosted its stake in shares of Albemarle by 36.8% in the 3rd quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 111 shares during the last quarter. Finally, Money Concepts Capital Corp boosted its holdings in shares of Albemarle by 1.2% in the third quarter. Money Concepts Capital Corp now owns 10,160 shares of the specialty chemicals company’s stock worth $824,000 after buying an additional 116 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

About Albemarle

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.