Albemarle (NYSE:ALB) Stock Price Up 8.5% – Time to Buy?

Albemarle Corporation (NYSE:ALB) shares were up 8.5% on Monday . The company traded as high as $168.53 and last traded at $170.0210. Approximately 442,575 shares traded hands during trading, a decline of 85% from the average daily volume of 2,876,714 shares. The stock had previously closed at $156.70.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Albemarle from $147.00 to $170.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Mizuho lifted their price objective on Albemarle from $156.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Royal Bank Of Canada increased their target price on Albemarle from $200.00 to $216.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Jefferies Financial Group lifted their target price on Albemarle from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Finally, Scotiabank raised shares of Albemarle from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $85.00 to $200.00 in a research note on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Albemarle currently has an average rating of “Moderate Buy” and a consensus target price of $170.24.

Albemarle Price Performance

The firm has a market capitalization of $19.64 billion, a price-to-earnings ratio of -29.09, a price-to-earnings-growth ratio of 1.20 and a beta of 1.43. The stock’s fifty day moving average price is $171.46 and its two-hundred day moving average price is $131.76. The company has a current ratio of 2.23, a quick ratio of 1.57 and a debt-to-equity ratio of 0.41.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.13). Albemarle had a negative net margin of 10.74% and a positive return on equity of 0.41%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the company earned ($1.09) EPS. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities research analysts expect that Albemarle Corporation will post -0.04 EPS for the current year.

Albemarle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, March 13th. Albemarle’s dividend payout ratio (DPR) is currently -28.17%.

Insider Transactions 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 transaction of $2,012,654.23. Following the transaction, the chief executive officer owned 134,628 shares of the company’s stock, valued at approximately $22,995,808.68. This trade represents a 8.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ALB. Strategic Advocates LLC acquired a new position in shares of Albemarle during the 3rd quarter worth $25,000. MH & Associates Securities Management Corp ADV purchased a new stake in Albemarle during the fourth quarter worth about $26,000. BOKF NA grew its position in Albemarle by 5,771.4% during the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 404 shares during the period. Cromwell Holdings LLC increased its holdings in Albemarle by 36.8% in the third quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 111 shares in the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in shares of Albemarle during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

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.