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

Albemarle (NYSE:ALB) had its price target reduced by KeyCorp from $127.00 to $122.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the specialty chemicals company’s stock. KeyCorp’s target price indicates a potential upside of 50.24% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Clarkson Capital began coverage on Albemarle in a research report on Tuesday, January 14th. They set a “buy” rating and a $112.00 price target on the stock. Mizuho cut their target price on Albemarle from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Albemarle from $109.00 to $105.00 in a research report on Wednesday. BMO Capital Markets cut their price objective on shares of Albemarle from $150.00 to $140.00 in a research report on Wednesday. Finally, Royal Bank of Canada decreased their target price on shares of Albemarle from $133.00 to $114.00 and set an “overweight” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Albemarle has an average rating of “Hold” and a consensus price target of $112.38.

Albemarle Stock Up 2.5 %

Shares of Albemarle stock opened at $81.20 on Friday. The company has a market capitalization of $9.54 billion, a PE ratio of -4.85, a P/E/G ratio of 3.43 and a beta of 1.59. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58. The business has a 50-day moving average of $89.09 and a 200-day moving average of $92.31. Albemarle has a 1-year low of $71.97 and a 1-year high of $143.19.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share (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%. As a group, equities analysts forecast that Albemarle will post -1.55 EPS for the current fiscal year.

Insider Activity at Albemarle

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of Albemarle stock in a transaction dated 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 transaction, the chief executive officer now directly owns 73,747 shares of the company’s stock, 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 is accessible through this link. 0.38% of the stock is currently owned by corporate insiders.

Institutional Trading of Albemarle

Several large investors have recently added to or reduced their stakes in ALB. Quarry LP grew its position 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 buying an additional 252 shares during the period. Assetmark Inc. grew its position 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 buying an additional 235 shares during the period. Trust Co. of Vermont lifted 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 purchased a new position in Albemarle during the third quarter valued at approximately $31,000. Finally, First Community Trust NA lifted 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.

About Albemarle

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.