StockNews.com began coverage on shares of Albemarle (NYSE:ALB – Get Rating) in a research note published on Thursday. The firm issued a hold rating on the specialty chemicals company’s stock.
Several other research firms also recently commented on ALB. UBS Group decreased their price target on shares of Albemarle from $297.00 to $250.00 and set a neutral rating on the stock in a research note on Wednesday, January 11th. Piper Sandler raised their price objective on Albemarle from $310.00 to $330.00 and gave the company an overweight rating in a research note on Tuesday, February 21st. Citigroup lowered their target price on Albemarle from $345.00 to $295.00 and set a buy rating for the company in a research note on Thursday, December 15th. Scotiabank reaffirmed a sector perform rating on shares of Albemarle in a research note on Wednesday, January 25th. Finally, Royal Bank of Canada increased their price objective on Albemarle from $340.00 to $362.00 in a research note on Wednesday, January 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $308.00.
Albemarle Stock Performance
NYSE:ALB opened at $208.49 on Thursday. The stock has a market cap of $24.44 billion, a P/E ratio of 9.14, a PEG ratio of 0.44 and a beta of 1.57. The company has a quick ratio of 1.13, a current ratio of 1.89 and a debt-to-equity ratio of 0.39. The business’s 50-day moving average price is $254.16 and its two-hundred day moving average price is $262.37. Albemarle has a twelve month low of $185.15 and a twelve month high of $334.55.
Albemarle Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Friday, March 17th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, March 16th. This is a positive change from Albemarle’s previous quarterly dividend of $0.40. This represents a $1.60 annualized dividend and a dividend yield of 0.77%. Albemarle’s payout ratio is currently 6.92%.
Insider Buying and Selling
In other news, CFO Scott Tozier sold 417 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $255.49, for a total transaction of $106,539.33. Following the sale, the chief financial officer now owns 75,203 shares in the company, valued at approximately $19,213,614.47. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 7,836 shares of company stock valued at $1,917,699 over the last ninety days. Company insiders own 0.25% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the business. SJS Investment Consulting Inc. purchased a new stake in Albemarle in the third quarter worth about $28,000. Covestor Ltd grew its stake in shares of Albemarle by 51.2% in the 1st quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 44 shares during the last quarter. Tompkins Financial Corp increased its position in Albemarle by 50.0% during the 4th quarter. Tompkins Financial Corp now owns 150 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 50 shares in the last quarter. McIlrath & Eck LLC raised its stake in Albemarle by 39.0% during the fourth quarter. McIlrath & Eck LLC now owns 164 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 46 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in Albemarle in the third quarter worth $37,000. 82.24% of the stock is owned by hedge funds and other institutional investors.
Albemarle Company Profile
Albemarle Corp. engages in the development, manufacture, and marketing of chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, transportation, pharmaceuticals, crop production, food-safety, and custom chemistry services. It operates through the following business segments: Lithium, Bromine, Catalysts, and All Other.
- Get a free copy of the StockNews.com research report on Albemarle (ALB)
- MarketBeat Week in Review – 3/13 – 3/17
- This Small Tech With Big Growth Prospects Is Nearing A Buy Point
- Don’t Chase FedEx Higher, Wait For The Pullback
- 3 Stocks For A Defensive Tech Portfolio
- Milk the Dividends on These 3 Cash Cows
Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.