Robert W. Baird Forecasts Strong Price Appreciation for Albemarle (NYSE:ALB) Stock

Albemarle (NYSE:ALBFree Report) had its price objective boosted by Robert W. Baird from $79.00 to $103.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

Several other equities research analysts have also commented on ALB. Evercore ISI decreased their price objective on shares of Albemarle from $190.00 to $170.00 and set an “outperform” rating for the company in a research note on Wednesday, August 28th. Oppenheimer decreased their price target on Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada boosted their price objective on Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Wells Fargo & Company raised their target price on Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Finally, KeyCorp cut their price target on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $115.74.

Get Our Latest Analysis on Albemarle

Albemarle Price Performance

ALB opened at $88.65 on Wednesday. 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 current ratio of 2.44 and a quick ratio of 1.58. The company has a market capitalization of $10.42 billion, a price-to-earnings ratio of -5.29 and a beta of 1.56. The firm’s fifty day moving average price is $101.40 and its two-hundred day moving average price is $96.18.

Albemarle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Friday, December 13th. Albemarle’s payout ratio is presently -9.67%.

Insider Transactions at Albemarle

In other news, CEO J Kent Masters sold 2,525 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $101.12, for a total value of $255,328.00. Following the transaction, the chief executive officer now owns 73,747 shares of the company’s stock, valued at approximately $7,457,296.64. This represents a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Albemarle

A number of institutional investors have recently added to or reduced their stakes in the business. Quarry LP grew its holdings in shares of Albemarle by 1,400.0% during the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 252 shares in the last quarter. Eastern Bank purchased a new position in Albemarle in the 3rd quarter worth approximately $31,000. Cromwell Holdings LLC increased its holdings in shares of Albemarle by 61.9% in the 3rd quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 148 shares during the last quarter. TD Private Client Wealth LLC raised its position in shares of Albemarle by 50.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 132 shares in the last quarter. Finally, Cornerstone Advisors LLC lifted its holdings in shares of Albemarle by 100.0% during the 3rd quarter. Cornerstone Advisors LLC now owns 400 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 200 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

About Albemarle

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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.

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Analyst Recommendations for Albemarle (NYSE:ALB)

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