Albemarle (NYSE:ALB – Free Report) had its target price lifted by Scotiabank from $200.00 to $215.00 in a report issued on Wednesday morning,MarketScreener reports.
Other research analysts also recently issued research reports about the company. Weiss Ratings upgraded Albemarle from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded Albemarle from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Evercore raised their target price on Albemarle from $100.00 to $180.00 in a research note on Wednesday, February 18th. HSBC raised their target price on Albemarle from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Finally, Mizuho raised their target price on Albemarle from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.26.
Albemarle Stock Down 2.1%
Albemarle (NYSE:ALB – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $1.71. Albemarle had a positive return on equity of 5.22% and a negative net margin of 5.00%.The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the firm earned ($0.18) EPS. The business’s revenue for the quarter was up 32.7% compared to the same quarter last year. On average, equities research analysts anticipate that Albemarle will post 10.91 EPS for the current year.
Albemarle Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be issued a $0.405 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.62 annualized dividend and a dividend yield of 0.8%. Albemarle’s dividend payout ratio (DPR) is presently -47.51%.
Insider Buying and Selling at Albemarle
In other Albemarle news, CEO J Kent Masters sold 11,783 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $170.81, for a total value of $2,012,654.23. Following the sale, the chief executive officer owned 134,628 shares of the company’s stock, valued at $22,995,808.68. This trade represents a 8.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.42% of the stock is currently owned by insiders.
Institutional Trading of Albemarle
Institutional investors and hedge funds have recently modified their holdings of the business. Strategic Advocates LLC purchased a new stake in shares of Albemarle in the 3rd quarter valued at about $25,000. MH & Associates Securities Management Corp ADV bought a new position in shares of Albemarle during the 4th quarter valued at about $26,000. BOKF NA raised its holdings in shares of Albemarle by 5,771.4% during the 3rd quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 404 shares in the last quarter. Elyxium Wealth LLC purchased a new position in shares of Albemarle during the 4th quarter valued at about $34,000. Finally, EverSource Wealth Advisors LLC lifted its position in Albemarle by 536.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 483 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.
Albemarle News Roundup
Here are the key news stories impacting Albemarle this week:
- Positive Sentiment: Deutsche Bank raised its price target on Albemarle to $250 from $210 and kept a buy rating, signaling confidence in further upside. Deutsche Bank adjusts Albemarle price target to $250 from $210
- Positive Sentiment: Scotiabank also lifted its target on Albemarle to $215 from $200, reinforcing the view that the shares still have room to run. Scotiabank adjusts price target on Albemarle to $215 from $200
- Positive Sentiment: Zacks Research upgraded Albemarle from hold to strong-buy, and Zacks added ALB to its Rank #1 Strong Buy list, adding to the bullish sentiment. Zacks upgrade report
- Positive Sentiment: Recent commentary highlighted Albemarle’s strong earnings estimate revisions, lithium price tailwinds, and solid demand, which suggest the stock could keep outperforming. Why Albemarle might be well poised for a surge
Albemarle Company Profile
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.
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