Brokerages Set Albemarle Co. (NYSE:ALB) Target Price at $114.47

Shares of Albemarle Co. (NYSE:ALB) have been given an average recommendation of “Hold” by the twenty-two brokerages that are currently covering the company, MarketBeat reports. One investment 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. The average 12 month target price among brokers that have covered the stock in the last year is $114.47.

A number of equities analysts have recently issued reports on ALB shares. Oppenheimer cut 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. Scotiabank reduced their price target on shares of Albemarle from $135.00 to $85.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 6th. KeyCorp decreased their price target on Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Baird R W downgraded Albemarle from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Robert W. Baird decreased their target price on Albemarle from $85.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th.

Institutional Investors Weigh In On Albemarle

A number of hedge funds and other institutional investors have recently made changes to their positions in ALB. First Community Trust NA acquired a new stake in Albemarle in the 2nd quarter worth about $25,000. Quarry LP grew its holdings in Albemarle by 1,400.0% in the third 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. CVA Family Office LLC increased its position in Albemarle by 610.0% during the second quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 244 shares during the last quarter. Eastern Bank purchased a new position in Albemarle during the third quarter worth approximately $31,000. Finally, Cromwell Holdings LLC grew its stake in shares of Albemarle by 61.9% during the 3rd quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 148 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Albemarle Trading Up 3.3 %

NYSE:ALB opened at $111.30 on Friday. Albemarle has a 1 year low of $71.97 and a 1 year high of $153.54. 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 stock has a fifty day moving average price of $99.81 and a two-hundred day moving average price of $98.19. The stock has a market capitalization of $13.08 billion, a price-to-earnings ratio of -6.39 and a beta of 1.55.

Albemarle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a yield of 1.46%. Albemarle’s dividend payout ratio (DPR) is currently -9.67%.

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.