Albemarle (NYSE:ALB) Price Target Lowered to $122.00 at KeyCorp

Albemarle (NYSE:ALB) had its price objective trimmed by KeyCorp from $127.00 to $122.00 in a report released on Friday,Benzinga reports. The firm currently has an overweight rating on the specialty chemicals company’s stock.

A number of other brokerages have also weighed in on ALB. Clarkson Capital initiated coverage on shares of Albemarle in a research note on Tuesday, January 14th. They issued a “buy” rating and a $112.00 target price for the company. Robert W. Baird reduced their price objective on shares of Albemarle from $103.00 to $92.00 and set a “neutral” rating for the company in a research note on Wednesday. Truist Financial reduced their price objective on shares of Albemarle from $96.00 to $85.00 and set a “hold” rating for the company in a research note on Friday. BMO Capital Markets reduced their price objective on shares of Albemarle from $150.00 to $140.00 in a research note on Wednesday. Finally, Citigroup reduced their price objective on shares of Albemarle from $115.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $112.38.

Albemarle Price Performance

Shares of NYSE ALB opened at $81.20 on Friday. The firm has a market cap of $9.54 billion, a PE ratio of -4.85, a PEG ratio of 3.43 and a beta of 1.59. 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 1-year low of $71.97 and a 1-year high of $143.19. The company has a fifty day moving average price of $89.09 and a 200 day moving average price of $92.32.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.49). Albemarle had a positive return on equity of 1.67% and a negative net margin of 28.80%. Research analysts predict that Albemarle will post -1.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Albemarle

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $101.12, for a total value of $255,328.00. Following the transaction, the chief executive officer now directly owns 73,747 shares of the company’s stock, valued at $7,457,296.64. This represents a 3.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Quarry LP increased its holdings in shares of Albemarle by 1,400.0% during the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 252 shares during the period. Assetmark Inc. increased 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 worth $26,000 after purchasing an additional 235 shares during the period. Trust Co. of Vermont increased its holdings in shares of Albemarle by 606.5% during the fourth quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 279 shares during the period. Eastern Bank bought a new position in shares of Albemarle during the third quarter worth approximately $31,000. Finally, First Community Trust NA increased its holdings in shares of Albemarle by 55.0% during 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 during the period. 92.87% of the stock is owned by institutional investors.

About Albemarle

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.