KeyCorp reaffirmed their overweight rating on shares of Albemarle (NYSE:ALB) in a research report sent to investors on Tuesday, 24/7 WallStreet reports. They currently have a $94.00 price target on the specialty chemicals company’s stock, down from their prior price target of $100.00.
Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada lifted their price target on shares of PVH to $145.00 and gave the company an outperform rating in a research report on Friday, March 29th. Buckingham Research dropped their price target on shares of Albemarle from $100.00 to $88.00 and set a neutral rating for the company in a research report on Friday, March 29th. TheStreet cut shares of Tribune Publishing from a c- rating to a d+ rating in a research report on Monday, May 20th. Loop Capital dropped their price target on shares of Albemarle to $108.00 and set a buy rating for the company in a research report on Thursday, May 16th. Finally, Jefferies Financial Group dropped their price target on shares of Albemarle from $114.00 to $90.00 and set a buy rating for the company in a research report on Monday, May 20th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $95.77.
Shares of ALB stock opened at $70.58 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.55 and a debt-to-equity ratio of 0.36. The stock’s 50-day moving average price is $68.88. Albemarle has a 12 month low of $63.10 and a 12 month high of $108.74. The stock has a market capitalization of $7.48 billion, a P/E ratio of 12.88, a PEG ratio of 0.74 and a beta of 1.63.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Thursday, June 13th. Albemarle’s dividend payout ratio (DPR) is currently 26.82%.
In other Albemarle news, SVP Deeanne J. Marlow acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $70.85 per share, for a total transaction of $70,850.00. Following the completion of the acquisition, the senior vice president now owns 1,000 shares of the company’s stock, valued at approximately $70,850. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.02% of the company’s stock.
Several hedge funds have recently made changes to their positions in ALB. Kinneret Advisory LLC acquired a new position in Albemarle during the 4th quarter worth approximately $100,000. Envestnet Asset Management Inc. grew its holdings in Albemarle by 18.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 56,910 shares of the specialty chemicals company’s stock worth $4,665,000 after acquiring an additional 8,665 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in Albemarle by 4.7% during the 1st quarter. GHP Investment Advisors Inc. now owns 7,721 shares of the specialty chemicals company’s stock worth $633,000 after acquiring an additional 347 shares in the last quarter. Dana Investment Advisors Inc. grew its holdings in Albemarle by 29.3% during the 4th quarter. Dana Investment Advisors Inc. now owns 8,081 shares of the specialty chemicals company’s stock worth $623,000 after acquiring an additional 1,829 shares in the last quarter. Finally, Capital Innovations LLC acquired a new position in Albemarle during the 1st quarter worth approximately $244,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.
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