KeyCorp Cuts Albemarle (NYSE:ALB) Price Target to $102.00

Albemarle (NYSE:ALB) had its price objective lowered by KeyCorp from $122.00 to $102.00 in a report issued on Monday morning,Benzinga reports. The firm currently has an overweight rating on the specialty chemicals company’s stock.

A number of other research firms have also recently weighed in on ALB. Piper Sandler cut their price target on Albemarle from $90.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, February 20th. Clarkson Capital began coverage on Albemarle in a research report on Tuesday, January 14th. They set a “buy” rating and a $112.00 price target for the company. UBS Group lowered their price target on Albemarle from $86.00 to $64.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. BMO Capital Markets reduced their price objective on shares of Albemarle from $150.00 to $140.00 in a report on Wednesday, February 12th. Finally, Scotiabank lowered their target price on shares of Albemarle from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Albemarle presently has a consensus rating of “Hold” and a consensus target price of $98.70.

Albemarle Trading Up 1.1 %

NYSE:ALB opened at $57.32 on Monday. Albemarle has a 12-month low of $49.43 and a 12-month high of $137.50. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.95 and a quick ratio of 1.19. The business has a 50 day simple moving average of $72.96 and a 200 day simple moving average of $88.26. The firm has a market capitalization of $6.74 billion, a P/E ratio of -5.12 and a beta of 1.59.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.49). Albemarle had a negative return on equity of 1.72% and a negative net margin of 21.93%. Equities research analysts predict that Albemarle will post -0.04 EPS for the current year.

Albemarle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Friday, March 14th. Albemarle’s payout ratio is -14.46%.

Institutional Trading of Albemarle

A number of hedge funds have recently modified their holdings of ALB. Assetmark Inc. grew its holdings in shares of Albemarle by 340.6% during the fourth quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 235 shares in the last quarter. Trust Co. of Vermont grew its stake in Albemarle by 606.5% during the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 279 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Albemarle by 50.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 132 shares during the period. First Community Trust NA lifted its position in shares of Albemarle by 55.0% in the fourth quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 142 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Albemarle during the fourth quarter worth approximately $34,000. 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.