Albemarle (NYSE:ALB) had its price objective decreased by Vertical Group from $58.50 to $39.50 in a report issued on Wednesday, The Fly reports.

Several other research firms have also issued reports on ALB. Credit Suisse Group set a $106.00 price target on Albemarle and gave the stock a buy rating in a research report on Friday, August 9th. Bank of America dropped their price objective on Albemarle from $95.00 to $83.00 and set a buy rating on the stock in a research note on Monday, August 12th. Oppenheimer dropped their price objective on Albemarle from $157.00 to $128.00 and set an outperform rating on the stock in a research note on Friday, August 9th. KeyCorp reaffirmed an overweight rating and set a $94.00 price objective (down previously from $100.00) on shares of Albemarle in a research note on Tuesday, July 9th. Finally, TheStreet downgraded Albemarle from a b- rating to a c+ rating in a research note on Monday, May 20th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $91.84.

NYSE:ALB opened at $63.09 on Wednesday. Albemarle has a 12-month low of $61.24 and a 12-month high of $108.74. The company has a quick ratio of 0.87, a current ratio of 1.45 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $6.81 billion, a P/E ratio of 11.51, a P/E/G ratio of 0.69 and a beta of 1.59. The stock’s fifty day simple moving average is $70.88 and its 200-day simple moving average is $76.25.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, August 7th. The specialty chemicals company reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.14. Albemarle had a return on equity of 15.71% and a net margin of 16.01%. The business had revenue of $885.05 million for the quarter, compared to analyst estimates of $893.50 million. During the same period last year, the company earned $1.36 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts expect that Albemarle will post 6.33 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Thursday, September 12th. Albemarle’s dividend payout ratio is 26.82%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in Albemarle by 10.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,218,626 shares of the specialty chemicals company’s stock worth $93,921,000 after purchasing an additional 116,753 shares during the last quarter. Geode Capital Management LLC increased its holdings in Albemarle by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 1,358,277 shares of the specialty chemicals company’s stock worth $104,495,000 after purchasing an additional 67,439 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Albemarle by 6.5% during the 1st quarter. State of Alaska Department of Revenue now owns 26,675 shares of the specialty chemicals company’s stock worth $2,185,000 after purchasing an additional 1,630 shares during the last quarter. Flagship Harbor Advisors LLC increased its holdings in shares of Albemarle by 29.1% in the 1st quarter. Flagship Harbor Advisors LLC now owns 3,556 shares of the specialty chemicals company’s stock valued at $291,000 after acquiring an additional 801 shares during the last quarter. Finally, Confluence Investment Management LLC bought a new stake in shares of Albemarle in the 1st quarter valued at approximately $202,000. 89.43% of the stock is currently owned by hedge funds and other institutional investors.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.

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Analyst Recommendations for Albemarle (NYSE:ALB)

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