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

Albemarle (NYSE:ALB) had its price objective cut by analysts at UBS Group from $99.00 to $86.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s target price points to a potential upside of 5.91% from the company’s current price.

Several other research firms also recently commented on ALB. Deutsche Bank Aktiengesellschaft decreased their target price on Albemarle from $109.00 to $105.00 in a research report on Wednesday. BMO Capital Markets decreased their target price on Albemarle from $150.00 to $140.00 in a research report on Wednesday. Robert W. Baird decreased their target price on Albemarle from $103.00 to $92.00 and set a “neutral” rating on the stock in a research report on Wednesday. Citigroup reduced their price target on Albemarle from $115.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Truist Financial initiated coverage on Albemarle in a research report on Tuesday, January 28th. They set a “hold” rating and a $96.00 price target on the stock. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $112.38.

Albemarle Price Performance

Shares of NYSE ALB opened at $81.20 on Thursday. The business’s 50 day moving average price is $89.09 and its two-hundred day moving average price is $92.32. The company has a market cap of $9.54 billion, a PE ratio of -4.85, a price-to-earnings-growth ratio of 3.43 and a beta of 1.59. 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 twelve month low of $71.97 and a twelve month high of $143.19.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) EPS for the quarter, missing the consensus estimate 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, analysts predict that Albemarle will post -1.55 EPS for the current year.

Insider Activity

In other news, CEO J Kent Masters sold 2,525 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $101.12, for a total value of $255,328.00. Following the completion of the transaction, the chief executive officer now directly owns 73,747 shares in the company, valued at approximately $7,457,296.64. This represents a 3.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.38% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. AMF Tjanstepension AB acquired a new stake in Albemarle in the third quarter valued at $692,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Albemarle in the third quarter valued at $76,000. Exchange Traded Concepts LLC increased its holdings in Albemarle by 32.3% in the third quarter. Exchange Traded Concepts LLC now owns 1,817 shares of the specialty chemicals company’s stock valued at $172,000 after purchasing an additional 444 shares during the period. Marshall Financial Group LLC acquired a new stake in Albemarle in the third quarter valued at $205,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Albemarle by 2.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,682 shares of the specialty chemicals company’s stock valued at $1,012,000 after purchasing an additional 248 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.