Brokerages Set Albemarle Co. (NYSE:ALB) PT at $115.65

Albemarle Co. (NYSE:ALB) has been given an average recommendation of “Hold” by the twenty-three brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $115.65.

Several analysts have recently issued reports on ALB shares. Robert W. Baird boosted their price objective on shares of Albemarle from $79.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Clarkson Capital initiated coverage on shares of Albemarle in a research note on Tuesday, January 14th. They set a “buy” rating and a $112.00 price objective for the company. Wells Fargo & Company upped their price target on shares of Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada upped their price target on shares of Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Mizuho decreased their price target on shares of Albemarle from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th.

Albemarle Stock Down 3.5 %

Shares of NYSE ALB opened at $94.03 on Friday. Albemarle has a 52-week low of $71.97 and a 52-week high of $143.19. The firm has a fifty day moving average of $97.77 and a 200-day moving average of $93.77. The stock has a market capitalization of $11.05 billion, a PE ratio of -5.61, a P/E/G ratio of 3.49 and a beta of 1.58. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43.

Albemarle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a $0.405 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a yield of 1.72%. Albemarle’s payout ratio is presently -9.67%.

Insiders Place Their Bets

In other news, CEO J Kent Masters sold 2,525 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $101.12, for a total transaction of $255,328.00. Following the completion of the transaction, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Albemarle

A number of hedge funds and other institutional investors have recently made changes to their positions in ALB. Regatta Capital Group LLC lifted its holdings in Albemarle by 3.1% during the 4th quarter. Regatta Capital Group LLC now owns 7,572 shares of the specialty chemicals company’s stock valued at $652,000 after purchasing an additional 225 shares during the last quarter. Inspire Investing LLC lifted its holdings in Albemarle by 5.1% during the 4th quarter. Inspire Investing LLC now owns 13,550 shares of the specialty chemicals company’s stock valued at $1,166,000 after purchasing an additional 656 shares during the last quarter. D.B. Root & Company LLC acquired a new stake in Albemarle in the 4th quarter valued at about $245,000. Westside Investment Management Inc. increased its position in Albemarle by 16.4% in the 4th quarter. Westside Investment Management Inc. now owns 1,560 shares of the specialty chemicals company’s stock valued at $134,000 after acquiring an additional 220 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in Albemarle by 48.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 414 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 136 shares in 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.