Mizuho Lowers Albemarle (NYSE:ALB) Price Target to $105.00

Albemarle (NYSE:ALB) had its price target trimmed by Mizuho from $110.00 to $105.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has a neutral rating on the specialty chemicals company’s stock.

A number of other equities research analysts also recently weighed in on the company. Oppenheimer dropped their target price on Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada boosted their price objective on Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Wells Fargo & Company raised their target price on shares of Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. KeyCorp lowered their price target on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Finally, Robert W. Baird increased their price objective on shares of Albemarle from $79.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $115.84.

Albemarle Stock Performance

Shares of Albemarle stock opened at $87.30 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58. The firm has a 50 day simple moving average of $98.97 and a 200 day simple moving average of $94.03. Albemarle has a fifty-two week low of $71.97 and a fifty-two week high of $143.19. The firm has a market cap of $10.26 billion, a P/E ratio of -5.21 and a beta of 1.58.

Albemarle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were issued a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Friday, December 13th. Albemarle’s dividend payout ratio (DPR) is presently -9.67%.

Insider Buying and Selling

In related news, CEO J Kent Masters sold 2,525 shares of Albemarle stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $101.12, for a total value of $255,328.00. Following the sale, the chief executive officer now owns 73,747 shares of the company’s stock, valued at approximately $7,457,296.64. This trade represents a 3.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Albemarle

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its holdings in Albemarle by 3.7% during the third quarter. Farther Finance Advisors LLC now owns 2,832 shares of the specialty chemicals company’s stock worth $268,000 after purchasing an additional 102 shares during the last quarter. TD Private Client Wealth LLC lifted its position in Albemarle by 50.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 132 shares in the last quarter. abrdn plc boosted its stake in shares of Albemarle by 0.3% during the 3rd quarter. abrdn plc now owns 42,529 shares of the specialty chemicals company’s stock worth $4,031,000 after buying an additional 146 shares during the last quarter. Moser Wealth Advisors LLC grew its holdings in shares of Albemarle by 5.3% in the 3rd quarter. Moser Wealth Advisors LLC now owns 2,925 shares of the specialty chemicals company’s stock valued at $277,000 after acquiring an additional 146 shares in the last quarter. Finally, Cromwell Holdings LLC increased its position in shares of Albemarle by 61.9% in the third quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 148 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

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.