Albemarle (NYSE:ALB) Given New $86.00 Price Target at Rothschild & Co Redburn

Albemarle (NYSE:ALB) had its price target lowered by Rothschild & Co Redburn from $100.00 to $86.00 in a research note published on Wednesday morning.

Several other analysts have also recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Albemarle from $160.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, August 25th. Scotiabank decreased their price objective on Albemarle from $190.00 to $165.00 and set a “sector outperform” rating on the stock in a report on Monday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $175.00 price objective (down from $200.00) on shares of Albemarle in a report on Tuesday, October 6th. Zacks Research upgraded Albemarle from a “strong sell” rating to a “hold” rating in a research report on Monday. Finally, UBS Group dropped their target price on Albemarle from $150.00 to $137.00 and set a “buy” rating for the company in a report on Monday. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.00.

Albemarle Stock Performance

Shares of ALB stock traded down $0.98 during midday trading on Wednesday, hitting $93.87. 668,875 shares of the company were exchanged, compared to its average volume of 2,457,325. The firm has a market capitalization of $11.08 billion, a P/E ratio of 22.66, a PEG ratio of 0.60 and a beta of 1.34. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.57 and a current ratio of 2.34. The firm’s 50 day moving average price is $104.38 and its two-hundred day moving average price is $146.06. Albemarle has a 52 week low of $89.77 and a 52 week high of $221.00.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, November 4th. The specialty chemicals company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. Albemarle had a net margin of 10.40% and a return on equity of 14.91%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the firm earned ($0.19) EPS. The business’s revenue was up 18.8% on a year-over-year basis. As a group, equities research analysts anticipate that Albemarle will post 10.70 earnings per share for the current year.

Albemarle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Friday, December 18th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, December 18th. This represents a $1.64 annualized dividend and a yield of 1.7%. Albemarle’s dividend payout ratio is currently 39.61%.

Hedge Funds Weigh In On Albemarle

Hedge funds have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its stake in shares of Albemarle by 348.3% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 440,083 shares of the specialty chemicals company’s stock valued at $46,552,000 after purchasing an additional 341,926 shares during the last quarter. Essex Financial Services Inc. bought a new position in Albemarle during the third quarter worth $1,096,000. Ingalls & Snyder LLC raised its stake in Albemarle by 52.5% during the third quarter. Ingalls & Snyder LLC now owns 3,031 shares of the specialty chemicals company’s stock worth $321,000 after buying an additional 1,043 shares during the last quarter. AlphaGrep UK Ltd lifted its holdings in Albemarle by 133.0% in the third quarter. AlphaGrep UK Ltd now owns 4,431 shares of the specialty chemicals company’s stock valued at $469,000 after buying an additional 2,529 shares during the period. Finally, Benjamin Edwards Inc. lifted its holdings in Albemarle by 212.3% in the third quarter. Benjamin Edwards Inc. now owns 17,422 shares of the specialty chemicals company’s stock valued at $1,843,000 after buying an additional 11,843 shares during the period. 92.87% of the stock is owned by institutional investors.

About Albemarle

Albemarle Corporation is a specialty chemicals company that produces lithium, bromine and refining catalysts. Its products serve industries including energy storage, transportation, electronics, petroleum refining and pharmaceuticals. The company supplies lithium compounds used in rechargeable batteries and other applications. It also makes bromine-based products for uses such as flame retardants and water treatment, along with catalysts used in refining petroleum. Albemarle traces its history to 1887 and is headquartered in Charlotte, North Carolina.