Albemarle (NYSE:ALB) Price Target Cut to $105.00 by Analysts at Deutsche Bank Aktiengesellschaft

Albemarle (NYSE:ALB) had its price objective lowered by equities research analysts at Deutsche Bank Aktiengesellschaft from $109.00 to $105.00 in a research report issued to clients and investors on Wednesday. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 37.13% from the stock’s previous close.

A number of other analysts have also issued reports on ALB. Truist Financial assumed coverage on Albemarle in a report on Tuesday, January 28th. They issued a “hold” rating and a $96.00 target price for the company. KeyCorp decreased 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. Mizuho dropped their target price on Albemarle from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Oppenheimer decreased their price target on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, Royal Bank of Canada dropped their price objective on shares of Albemarle from $133.00 to $114.00 and set an “overweight” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $113.50.

Albemarle Trading Up 1.1 %

Shares of NYSE:ALB traded up $0.87 during midday trading on Wednesday, reaching $76.57. The company had a trading volume of 3,392,958 shares, compared to its average volume of 2,373,626. The company has a fifty day simple moving average of $90.52 and a two-hundred day simple moving average of $92.59. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44. The firm has a market cap of $9.00 billion, a price-to-earnings ratio of -4.57, a price-to-earnings-growth ratio of 3.43 and a beta of 1.59. Albemarle has a 1-year low of $71.97 and a 1-year high of $143.19.

Albemarle (NYSE:ALB) last released its earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.49). Albemarle had a positive return on equity of 1.67% and a negative net margin of 28.80%. Research analysts predict that Albemarle will post -1.55 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO J Kent Masters sold 2,525 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $101.12, for a total value of $255,328.00. Following the completion of the sale, the chief executive officer now directly owns 73,747 shares in the company, valued at approximately $7,457,296.64. The trade was a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Quarry LP lifted its position in shares of Albemarle by 1,400.0% during the 3rd quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 252 shares during the last quarter. Assetmark Inc. increased its position in Albemarle by 340.6% in the 4th quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 235 shares during the period. Trust Co. of Vermont increased its holdings in shares of Albemarle by 606.5% during the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 279 shares during the period. Eastern Bank bought a new stake in shares of Albemarle in the third quarter valued at about $31,000. Finally, First Community Trust NA grew its position in Albemarle by 55.0% during the fourth quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 142 shares in the last quarter. 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.