Albemarle (NYSE:ALB) Given New $85.00 Price Target at Mizuho

Albemarle (NYSE:ALB) had its price target cut by Mizuho from $90.00 to $85.00 in a research report released on Friday,Benzinga reports. They currently have a neutral rating on the specialty chemicals company’s stock.

Several other research firms have also issued reports on ALB. Scotiabank cut their target price on Albemarle from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 18th. Royal Bank of Canada decreased their price target on Albemarle from $133.00 to $114.00 and set an “overweight” rating for the company in a report on Wednesday, February 12th. KeyCorp cut their price objective on Albemarle from $127.00 to $122.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. UBS Group dropped their price target on Albemarle from $99.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, Piper Sandler lowered their price objective on Albemarle from $90.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, February 20th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $107.05.

Albemarle Trading Down 1.2 %

Shares of ALB opened at $75.57 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.95 and a quick ratio of 1.19. Albemarle has a 1 year low of $67.23 and a 1 year high of $137.50. The company has a 50 day simple moving average of $83.92 and a two-hundred day simple moving average of $91.94. The firm has a market cap of $8.88 billion, a P/E ratio of -6.75 and a beta of 1.70.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.49). Albemarle had a negative return on equity of 1.72% and a negative net margin of 21.93%. On average, equities analysts expect that Albemarle will post -0.04 earnings per share for the current fiscal year.

Albemarle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.405 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.14%. Albemarle’s payout ratio is -14.46%.

Institutional Trading of Albemarle

Hedge funds and other institutional investors have recently made changes to their positions in the company. Siemens Fonds Invest GmbH purchased a new position in shares of Albemarle in the fourth quarter valued at $837,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Albemarle in the fourth quarter worth approximately $9,728,000. Polar Asset Management Partners Inc. bought a new stake in shares of Albemarle during the fourth quarter valued at approximately $1,997,000. Ameriflex Group Inc. bought a new stake in shares of Albemarle during the fourth quarter valued at approximately $486,000. Finally, Toronto Dominion Bank grew its holdings in Albemarle by 0.4% during the fourth quarter. Toronto Dominion Bank now owns 39,657 shares of the specialty chemicals company’s stock worth $3,414,000 after buying an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

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.