Albemarle (ALB) PT Lowered to $150.00
Albemarle (NYSE:ALB) had its price objective reduced by Jefferies Group to $150.00 in a research note published on Friday morning, The Fly reports. Jefferies Group currently has a buy rating on the specialty chemicals company’s stock.
Several other research firms have also recently weighed in on ALB. Deutsche Bank cut Albemarle from a buy rating to a hold rating in a research note on Tuesday, November 14th. Robert W. Baird restated a hold rating and set a $135.00 target price on shares of Albemarle in a research note on Wednesday, November 1st. Royal Bank of Canada boosted their target price on Albemarle from $149.00 to $155.00 and gave the stock an outperform rating in a research note on Friday, November 10th. Nomura boosted their target price on Albemarle to $159.00 and gave the stock an outperform rating in a research note on Friday, November 10th. Finally, Zacks Investment Research upgraded Albemarle from a hold rating to a buy rating and set a $157.00 target price for the company in a research note on Tuesday, October 17th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $127.78.
Shares of Albemarle (NYSE ALB) traded down $1.90 on Friday, hitting $116.01. The stock had a trading volume of 4,262,737 shares, compared to its average volume of 1,332,663. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 0.35. The stock has a market cap of $13,028.54, a PE ratio of 15.01, a PEG ratio of 1.55 and a beta of 1.69. Albemarle has a fifty-two week low of $90.35 and a fifty-two week high of $144.99.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Thursday, December 14th. Albemarle’s dividend payout ratio (DPR) is 16.56%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC acquired a new position in Albemarle during the second quarter worth approximately $11,681,000. Sumitomo Life Insurance Co. acquired a new position in Albemarle during the third quarter worth approximately $1,703,000. Vanguard Group Inc. increased its position in Albemarle by 1.7% during the second quarter. Vanguard Group Inc. now owns 12,501,329 shares of the specialty chemicals company’s stock worth $1,319,389,000 after buying an additional 213,530 shares during the period. Hardman Johnston Global Advisors LLC increased its position in Albemarle by 1.9% during the third quarter. Hardman Johnston Global Advisors LLC now owns 285,837 shares of the specialty chemicals company’s stock worth $38,962,000 after buying an additional 5,430 shares during the period. Finally, Advisory Services Network LLC increased its position in Albemarle by 43.7% during the second quarter. Advisory Services Network LLC now owns 1,273 shares of the specialty chemicals company’s stock worth $134,000 after buying an additional 387 shares during the period. 88.07% of the stock is currently owned by institutional investors.
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Albemarle Company Profile
Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.
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