Albemarle Co. (NYSE:ALB) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Albemarle Co. (NYSE:ALB) have been given an average recommendation of “Hold” by the twenty-three research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $115.65.

Several equities research analysts have issued reports on the stock. Clarkson Capital began coverage on shares of Albemarle in a research report on Tuesday, January 14th. They set a “buy” rating and a $112.00 price objective for the company. Robert W. Baird boosted their price target on Albemarle from $79.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Royal Bank of Canada increased their price objective on shares of Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Oppenheimer dropped their target price on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Wells Fargo & Company increased their price target on shares of Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th.

Albemarle Stock Performance

NYSE ALB opened at $97.52 on Friday. The stock has a market cap of $11.46 billion, a PE ratio of -5.82, a P/E/G ratio of 3.02 and a beta of 1.58. 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 50-day moving average of $98.20 and a 200-day moving average of $93.86. Albemarle has a 52-week low of $71.97 and a 52-week high of $143.19.

Albemarle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were issued a $0.405 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a yield of 1.66%. Albemarle’s dividend payout ratio (DPR) is presently -9.67%.

Insiders Place Their Bets

In related news, CEO J Kent Masters sold 2,525 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $101.12, for a total transaction of $255,328.00. Following the completion of the transaction, the chief executive officer now directly owns 73,747 shares of the company’s stock, valued at $7,457,296.64. This trade represents a 3.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Albemarle

A number of hedge funds have recently made changes to their positions in the stock. Quarry LP increased its position in Albemarle by 1,400.0% during the 3rd quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 252 shares during the period. Trust Co. of Vermont boosted its stake in shares of Albemarle by 606.5% in the 4th 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 during the last quarter. Eastern Bank acquired a new stake in shares of Albemarle during the third quarter worth $31,000. First Community Trust NA raised its stake 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 during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Albemarle by 48.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 136 shares during the period. 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.