Albemarle (NYSE:ALB) Price Target Raised to $236.00

Albemarle (NYSE:ALB) had its price objective upped by investment analysts at Robert W. Baird from $210.00 to $236.00 in a research note issued on Thursday,MarketScreener reports. Robert W. Baird’s price objective indicates a potential upside of 17.35% from the stock’s current price.

Several other equities analysts have also recently weighed in on ALB. Morgan Stanley raised their price target on shares of Albemarle from $170.00 to $189.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. BMO Capital Markets increased their target price on shares of Albemarle from $145.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Argus raised their target price on shares of Albemarle from $140.00 to $185.00 in a research report on Monday, February 23rd. Berenberg Bank set a $153.00 price target on shares of Albemarle in a research report on Monday, February 23rd. Finally, Mizuho increased their price objective on shares of Albemarle from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday. Thirteen research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Albemarle has a consensus rating of “Hold” and an average target price of $184.92.

Albemarle Stock Performance

ALB opened at $201.11 on Thursday. The business’s 50-day moving average price is $179.56 and its two-hundred day moving average price is $154.41. Albemarle has a 1 year low of $53.70 and a 1 year high of $221.00. The company has a market capitalization of $23.71 billion, a price-to-earnings ratio of -58.16, a P/E/G ratio of 1.38 and a beta of 1.36. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.23 and a quick ratio of 1.57.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $1.71. Albemarle had a positive return on equity of 5.20% and a negative net margin of 5.00%.The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the company earned ($0.18) earnings per share. Albemarle’s quarterly revenue was up 32.7% on a year-over-year basis. Equities analysts expect that Albemarle will post 8.72 EPS for the current fiscal year.

Insider Buying and Selling

In other Albemarle news, CEO J Kent Masters sold 11,783 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $170.81, for a total value of $2,012,654.23. Following the completion of the sale, the chief executive officer owned 134,628 shares in the company, valued at $22,995,808.68. This trade represents a 8.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.42% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Albemarle

A number of institutional investors and hedge funds have recently modified their holdings of ALB. AQR Capital Management LLC lifted its position in shares of Albemarle by 25.5% in the first quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company’s stock valued at $229,000 after buying an additional 654 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Albemarle by 26.2% during the first quarter. Integrated Wealth Concepts LLC now owns 4,798 shares of the specialty chemicals company’s stock worth $346,000 after buying an additional 996 shares in the last quarter. United Services Automobile Association acquired a new stake in Albemarle in the first quarter valued at about $208,000. Empowered Funds LLC acquired a new position in Albemarle during the first quarter worth about $411,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Albemarle by 536.7% in the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 483 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

About Albemarle

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.