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

Albemarle (NYSE:ALB) had its target price reduced by KeyCorp from $132.00 to $127.00 in a report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

Other equities research analysts also recently issued reports about the stock. Evercore ISI decreased their price target 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. Hsbc Global Res raised shares of Albemarle to a “hold” rating in a research report on Wednesday, July 17th. Berenberg Bank downgraded shares of Albemarle from a “buy” rating to a “hold” rating and decreased their target price for the stock from $160.00 to $83.00 in a research report on Wednesday, July 31st. Bank of America decreased their target price on shares of Albemarle from $135.00 to $126.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Scotiabank decreased their target price 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. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Albemarle presently has a consensus rating of “Hold” and a consensus target price of $114.47.

Albemarle Trading Up 1.4 %

ALB opened at $103.53 on Tuesday. Albemarle has a 1-year low of $71.97 and a 1-year high of $153.54. The company has a current ratio of 2.44, a quick ratio of 1.58 and a debt-to-equity ratio of 0.43. The company has a market cap of $12.17 billion, a P/E ratio of -6.18 and a beta of 1.55. The company has a fifty day moving average price of $95.52 and a two-hundred day moving average price of $100.06.

Albemarle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, December 13th. Albemarle’s dividend payout ratio is currently -9.67%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. grew its position in shares of Albemarle by 28.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 423,049 shares of the specialty chemicals company’s stock valued at $40,067,000 after acquiring an additional 93,718 shares during the period. MML Investors Services LLC grew its position in shares of Albemarle by 21.9% during the 3rd quarter. MML Investors Services LLC now owns 22,115 shares of the specialty chemicals company’s stock valued at $2,094,000 after acquiring an additional 3,968 shares during the period. Orion Portfolio Solutions LLC grew its position in shares of Albemarle by 195.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 13,529 shares of the specialty chemicals company’s stock valued at $1,281,000 after acquiring an additional 8,944 shares during the period. XTX Topco Ltd grew its position in shares of Albemarle by 1,014.6% during the 3rd quarter. XTX Topco Ltd now owns 33,827 shares of the specialty chemicals company’s stock valued at $3,204,000 after acquiring an additional 30,792 shares during the period. Finally, National Bank of Canada FI boosted its holdings in Albemarle by 67.6% in the 3rd quarter. National Bank of Canada FI now owns 60,817 shares of the specialty chemicals company’s stock worth $5,760,000 after buying an additional 24,529 shares during the period. 92.87% of the stock is 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.