Albemarle Co. (NYSE:ALB) Receives Average Rating of “Hold” from Brokerages

Albemarle Co. (NYSE:ALB) has earned a consensus rating of “Hold” from the twenty-two analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $114.47.

A number of brokerages have issued reports on ALB. Scotiabank decreased their price objective on Albemarle from $135.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 6th. Royal Bank of Canada raised their price target on Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. cut their price objective on shares of Albemarle from $115.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Bank of America lowered their target price on shares of Albemarle from $135.00 to $126.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Wells Fargo & Company upped their price target on shares of Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC raised its holdings in shares of Albemarle by 9,108.7% in the 3rd quarter. Pathway Financial Advisers LLC now owns 574,805 shares of the specialty chemicals company’s stock valued at $54,440,000 after purchasing an additional 568,563 shares in the last quarter. HB Wealth Management LLC boosted its position in Albemarle by 115.7% during the 2nd quarter. HB Wealth Management LLC now owns 542,200 shares of the specialty chemicals company’s stock valued at $51,791,000 after acquiring an additional 290,862 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Albemarle by 38.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,020,590 shares of the specialty chemicals company’s stock valued at $96,660,000 after acquiring an additional 282,194 shares during the period. FMR LLC raised its position in shares of Albemarle by 67.3% in the 3rd quarter. FMR LLC now owns 658,145 shares of the specialty chemicals company’s stock worth $62,333,000 after acquiring an additional 264,756 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Albemarle by 7,667.4% during the 3rd quarter. International Assets Investment Management LLC now owns 163,659 shares of the specialty chemicals company’s stock worth $155,000,000 after purchasing an additional 161,552 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Albemarle Stock Down 0.3 %

Shares of NYSE ALB opened at $107.70 on Friday. The company has a current ratio of 2.44, a quick ratio of 1.58 and a debt-to-equity ratio of 0.43. Albemarle has a 12-month low of $71.97 and a 12-month high of $153.54. The firm’s 50-day moving average price is $99.38 and its 200-day moving average price is $98.82. The stock has a market capitalization of $12.66 billion, a price-to-earnings ratio of -6.43 and a beta of 1.55.

Albemarle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.405 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.62 annualized dividend and a dividend yield of 1.50%. Albemarle’s payout ratio is currently -9.67%.

Albemarle Company Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.