Mizuho Issues Pessimistic Forecast for Albemarle (NYSE:ALB) Stock Price

Albemarle (NYSE:ALB) had its price target dropped by stock analysts at Mizuho from $110.00 to $105.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Mizuho’s target price points to a potential upside of 20.27% from the company’s current price.

A number of other research firms have also weighed in on ALB. Royal Bank of Canada upped their target price on Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Wells Fargo & Company upped their target price on Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Robert W. Baird upped their target price on Albemarle from $79.00 to $103.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Oppenheimer lowered their target price on Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, KeyCorp lowered their target price on Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company 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 issued a buy rating to the company. Based on data from MarketBeat, Albemarle has a consensus rating of “Hold” and an average price target of $115.84.

Albemarle Stock Down 3.0 %

Shares of NYSE ALB opened at $87.30 on Tuesday. 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 market capitalization of $10.26 billion, a price-to-earnings ratio of -5.21 and a beta of 1.58. The stock has a 50 day moving average price of $99.12 and a 200 day moving average price of $94.07. Albemarle has a 52-week low of $71.97 and a 52-week high of $143.19.

Insider Activity at Albemarle

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $101.12, for a total transaction of $255,328.00. Following the sale, the chief executive officer now directly owns 73,747 shares of the company’s stock, valued at approximately $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 accessible through this link. 0.38% of the stock is owned by insiders.

Institutional Investors Weigh In On Albemarle

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norway Savings Bank grew its position in Albemarle by 8.1% during the 4th quarter. Norway Savings Bank now owns 5,152 shares of the specialty chemicals company’s stock worth $443,000 after purchasing an additional 388 shares during the period. Nordea Investment Management AB grew its position in Albemarle by 10.6% during the 4th quarter. Nordea Investment Management AB now owns 8,801 shares of the specialty chemicals company’s stock worth $768,000 after purchasing an additional 842 shares during the period. Everence Capital Management Inc. acquired a new stake in Albemarle during the 4th quarter worth about $370,000. GAMMA Investing LLC grew its position in Albemarle by 70.3% during the 4th quarter. GAMMA Investing LLC now owns 2,347 shares of the specialty chemicals company’s stock worth $202,000 after purchasing an additional 969 shares during the period. Finally, Principal Financial Group Inc. grew its position in Albemarle by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 135,194 shares of the specialty chemicals company’s stock worth $12,804,000 after purchasing an additional 4,131 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

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.