Albemarle Co. (NYSE:ALB) Given Consensus Rating of “Hold” by Analysts

Albemarle Co. (NYSE:ALBGet Free Report) has been given an average rating of “Hold” by the eighteen analysts that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $192.21.

ALB has been the topic of a number of analyst reports. Piper Sandler cut Albemarle from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $140.00 to $128.00 in a research note on Tuesday, December 5th. Wells Fargo & Company cut their price target on Albemarle from $140.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, February 16th. StockNews.com lowered Albemarle from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Royal Bank of Canada cut their price target on Albemarle from $140.00 to $138.00 and set an “outperform” rating for the company in a report on Friday, February 16th. Finally, Wolfe Research started coverage on Albemarle in a research report on Friday. They set a “peer perform” rating on the stock.

Read Our Latest Stock Report on Albemarle

Hedge Funds Weigh In On Albemarle

A number of institutional investors have recently modified their holdings of the business. CENTRAL TRUST Co raised its holdings in shares of Albemarle by 3.4% during the 3rd quarter. CENTRAL TRUST Co now owns 1,149 shares of the specialty chemicals company’s stock worth $304,000 after buying an additional 38 shares in the last quarter. Covestor Ltd increased its holdings in Albemarle by 51.2% in the 1st quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 44 shares in the last quarter. McIlrath & Eck LLC increased its holdings in Albemarle by 39.0% in the 4th quarter. McIlrath & Eck LLC now owns 164 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 46 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Albemarle by 1.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 5,212 shares of the specialty chemicals company’s stock worth $1,378,000 after purchasing an additional 50 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its holdings in Albemarle by 0.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 6,651 shares of the specialty chemicals company’s stock worth $1,484,000 after purchasing an additional 51 shares in the last quarter. Institutional investors and hedge funds own 84.71% of the company’s stock.

Albemarle Price Performance

Shares of NYSE ALB opened at $133.20 on Thursday. Albemarle has a fifty-two week low of $108.39 and a fifty-two week high of $263.25. The firm’s 50-day simple moving average is $126.00 and its 200 day simple moving average is $143.27. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. The stock has a market cap of $15.64 billion, a P/E ratio of 9.99, a P/E/G ratio of 3.92 and a beta of 1.62.

Albemarle (NYSE:ALBGet Free Report) last issued its quarterly earnings data on Thursday, February 15th. The specialty chemicals company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.86. The business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Albemarle had a net margin of 16.36% and a return on equity of 26.62%. The company’s revenue was down 10.1% on a year-over-year basis. During the same period in the previous year, the business earned $8.62 earnings per share. Equities analysts expect that Albemarle will post 3.24 EPS for the current year.

Albemarle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.20%. Albemarle’s payout ratio is 11.99%.

Albemarle Company Profile

(Get Free Report

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.

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Analyst Recommendations for Albemarle (NYSE:ALB)

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