Brokerages Set Albemarle Co. (NYSE:ALB) Target Price at $175.05

Shares of Albemarle Co. (NYSE:ALB) have been given a consensus recommendation of “Hold” by the twenty research firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $175.05.

A number of analysts have issued reports on the stock. Royal Bank of Canada reduced their price target on shares of Albemarle from $140.00 to $138.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. Citigroup lifted their price target on shares of Albemarle from $125.00 to $135.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft downgraded shares of Albemarle from a “buy” rating to a “hold” rating and reduced their price target for the company from $155.00 to $135.00 in a report on Thursday, January 11th. Bank of America upgraded shares of Albemarle from a “neutral” rating to a “buy” rating and lifted their price target for the company from $137.00 to $156.00 in a report on Wednesday, April 10th. Finally, Wolfe Research assumed coverage on shares of Albemarle in a report on Friday, March 1st. They issued a “peer perform” rating on the stock.

Albemarle Stock Up 0.3 %

Shares of ALB stock opened at $112.15 on Friday. The company has a market capitalization of $13.18 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 2.27 and a beta of 1.62. Albemarle has a one year low of $106.69 and a one year high of $247.44. The company’s fifty day moving average price is $123.05 and its 200-day moving average price is $129.07. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.86.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Thursday, February 15th. The specialty chemicals company reported $1.85 EPS for the quarter, beating the consensus estimate of $0.99 by $0.86. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.18 billion. Albemarle had a net margin of 16.36% and a return on equity of 26.62%. The company’s revenue was down 10.1% on a year-over-year basis. During the same period last year, the firm earned $8.62 EPS. Sell-side analysts expect that Albemarle will post 3.09 EPS for the current fiscal year.

Albemarle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.43%. Albemarle’s dividend payout ratio is presently 11.99%.

Institutional Investors Weigh In On Albemarle

Several large investors have recently added to or reduced their stakes in the stock. CENTRAL TRUST Co boosted its position in Albemarle by 3.4% in the 3rd quarter. CENTRAL TRUST Co now owns 1,149 shares of the specialty chemicals company’s stock valued at $304,000 after buying an additional 38 shares during the period. Covestor Ltd boosted its position in Albemarle by 51.2% in the 1st quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock valued at $29,000 after buying an additional 44 shares during the period. McIlrath & Eck LLC boosted its position in Albemarle by 39.0% in the 4th quarter. McIlrath & Eck LLC now owns 164 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 46 shares during the period. Thrivent Financial for Lutherans boosted its position in Albemarle by 1.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 5,212 shares of the specialty chemicals company’s stock valued at $1,378,000 after buying an additional 50 shares during the period. Finally, Centaurus Financial Inc. boosted its position in Albemarle by 3.4% in the 1st quarter. Centaurus Financial Inc. now owns 1,593 shares of the specialty chemicals company’s stock valued at $352,000 after buying an additional 52 shares during the period. 92.87% of the stock is owned by hedge funds and other 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.