Albemarle (NYSE:ALB) Given New $127.00 Price Target at KeyCorp

Albemarle (NYSE:ALB) had its price objective reduced by KeyCorp from $132.00 to $127.00 in a research report report published on Tuesday,Benzinga reports. KeyCorp currently has an overweight rating on the specialty chemicals company’s stock.

A number of other research firms also recently weighed in on ALB. Oppenheimer decreased their price objective on Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Piper Sandler decreased their price objective on Albemarle from $95.00 to $90.00 and set an “underweight” rating on the stock in a report on Thursday, August 8th. Baird R W downgraded Albemarle from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th. HSBC cut shares of Albemarle from a “buy” rating to a “hold” rating and set a $95.00 target price for the company. in a research note on Wednesday, July 17th. Finally, Robert W. Baird cut their target price on shares of Albemarle from $85.00 to $79.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Albemarle presently has an average rating of “Hold” and an average target price of $114.47.

Albemarle Stock Down 1.5 %

ALB stock traded down $1.53 during trading on Tuesday, reaching $100.57. 183,655 shares of the stock were exchanged, compared to its average volume of 2,961,007. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. The stock has a 50 day simple moving average of $94.99 and a 200-day simple moving average of $100.22. Albemarle has a twelve month low of $71.97 and a twelve month high of $153.54.

Albemarle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Friday, December 13th. Albemarle’s payout ratio is -9.67%.

Institutional Trading of Albemarle

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC increased its holdings in shares of Albemarle by 239.7% in the second quarter. SG Americas Securities LLC now owns 53,793 shares of the specialty chemicals company’s stock worth $5,138,000 after acquiring an additional 37,958 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Albemarle by 22.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 190,526 shares of the specialty chemicals company’s stock worth $25,100,000 after purchasing an additional 35,003 shares in the last quarter. MBB Public Markets I LLC raised its holdings in Albemarle by 392.6% during the 2nd quarter. MBB Public Markets I LLC now owns 7,916 shares of the specialty chemicals company’s stock worth $756,000 after buying an additional 6,309 shares during the period. Vest Financial LLC lifted its stake in Albemarle by 32.4% in the third quarter. Vest Financial LLC now owns 521,537 shares of the specialty chemicals company’s stock valued at $49,395,000 after buying an additional 127,549 shares in the last quarter. Finally, Empower Advisory Group LLC boosted its holdings in shares of Albemarle by 28.7% in the third quarter. Empower Advisory Group LLC now owns 705,719 shares of the specialty chemicals company’s stock valued at $66,839,000 after buying an additional 157,319 shares during the period. 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.