KeyCorp Has Lowered Expectations for Albemarle (NYSE:ALB) Stock Price

Albemarle (NYSE:ALB) had its price target reduced by research analysts at KeyCorp from $132.00 to $127.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the specialty chemicals company’s stock. KeyCorp’s price objective would indicate a potential upside of 17.39% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Albemarle from $105.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 16th. Evercore ISI decreased their price target on shares of Albemarle from $190.00 to $170.00 and set an “outperform” rating for the company in a report on Wednesday, August 28th. Bank of America reduced their target price on shares of Albemarle from $135.00 to $126.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Robert W. Baird reduced 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. Finally, Baird R W cut shares of Albemarle from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $114.47.

Albemarle Stock Up 5.2 %

ALB stock opened at $108.19 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58. Albemarle has a 52-week low of $71.97 and a 52-week high of $153.54. The company has a 50-day moving average of $94.60 and a two-hundred day moving average of $100.20. The stock has a market capitalization of $12.72 billion, a price-to-earnings ratio of -6.46 and a beta of 1.55.

Institutional Trading of Albemarle

Several hedge funds have recently modified their holdings of ALB. 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 valued at $5,138,000 after purchasing an additional 37,958 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Albemarle by 22.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 190,526 shares of the specialty chemicals company’s stock valued at $25,100,000 after purchasing an additional 35,003 shares in the last quarter. MBB Public Markets I LLC increased its holdings in shares of Albemarle by 392.6% in the second quarter. MBB Public Markets I LLC now owns 7,916 shares of the specialty chemicals company’s stock valued at $756,000 after purchasing an additional 6,309 shares in the last quarter. Vest Financial LLC increased its holdings in shares of 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 purchasing an additional 127,549 shares in the last quarter. Finally, Empower Advisory Group LLC increased 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 purchasing an additional 157,319 shares in the last quarter. Institutional investors and hedge funds 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.