Albemarle (NYSE:ALB) Price Target Cut to $140.00 by Analysts at BMO Capital Markets

Albemarle (NYSE:ALB) had its price objective decreased by BMO Capital Markets from $150.00 to $140.00 in a research report report published on Wednesday.

Other analysts have also recently issued research reports about the company. Truist Financial began coverage on Albemarle in a research report on Tuesday, January 28th. They set a “hold” rating and a $96.00 price objective for the company. KeyCorp reduced their price objective on Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Royal Bank of Canada reduced their price target on Albemarle from $133.00 to $114.00 and set an “overweight” rating for the company in a research report on Wednesday. Clarkson Capital initiated coverage on Albemarle in a research report on Tuesday, January 14th. They issued a “buy” rating and a $112.00 price target for the company. Finally, Mizuho reduced their price target on Albemarle from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $114.24.

Albemarle Stock Performance

Shares of Albemarle stock opened at $76.57 on Wednesday. The stock has a market cap of $9.00 billion, a PE ratio of -4.57, a price-to-earnings-growth ratio of 3.43 and a beta of 1.59. The business has a fifty day simple moving average of $90.00 and a 200-day simple moving average of $92.48. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. Albemarle has a 12 month low of $71.97 and a 12 month high of $143.19.

Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.49). Albemarle had a negative net margin of 28.80% and a positive return on equity of 1.67%. On average, sell-side analysts anticipate that Albemarle will post -1.55 EPS for the current fiscal year.

Insider Activity at Albemarle

In related news, CEO J Kent Masters sold 2,525 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $101.12, for a total transaction of $255,328.00. Following the transaction, the chief executive officer now directly owns 73,747 shares in the company, valued at $7,457,296.64. The trade was a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Albemarle

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALB. Quarry LP boosted its holdings in Albemarle by 1,400.0% during the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 252 shares in the last quarter. Assetmark Inc. boosted its holdings in Albemarle by 340.6% during the fourth quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 235 shares in the last quarter. Trust Co. of Vermont boosted its holdings in Albemarle by 606.5% during the fourth quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 279 shares in the last quarter. Eastern Bank acquired a new stake in Albemarle during the third quarter valued at approximately $31,000. Finally, First Community Trust NA boosted its holdings in Albemarle by 55.0% during the fourth quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 142 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

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.