Albemarle (NYSE:ALB) Stock Price Up 7.7% – Should You Buy?

Albemarle Corporation (NYSE:ALB) was up 7.7% during mid-day trading on Friday . The company traded as high as $171.94 and last traded at $171.3410. Approximately 990,833 shares changed hands during trading, a decline of 60% from the average daily volume of 2,489,095 shares. The stock had previously closed at $159.06.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ALB shares. Truist Financial lifted their price target on shares of Albemarle from $245.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Scotiabank lifted their price target on shares of Albemarle from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Albemarle from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. lowered their price target on shares of Albemarle from $195.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Finally, Rothschild & Co Redburn cut shares of Albemarle from a “buy” rating to a “neutral” rating and set a $188.00 price target for the company. in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $203.04.

Albemarle Stock Performance

The firm has a market capitalization of $20.40 billion, a P/E ratio of -50.50, a price-to-earnings-growth ratio of 0.74 and a beta of 1.30. The company has a current ratio of 2.07, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. The business’s 50 day simple moving average is $181.51 and its two-hundred day simple moving average is $167.00.

Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $1.71. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. Albemarle’s revenue was up 32.7% compared to the same quarter last year. During the same period last year, the business earned ($0.18) EPS. Sell-side analysts anticipate that Albemarle Corporation will post 12.39 EPS for the current fiscal year.

Albemarle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, June 12th. Albemarle’s dividend payout ratio (DPR) is currently -47.51%.

Insiders Place Their Bets

In other Albemarle news, CEO J Kent Masters sold 16,393 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $183.72, for a total transaction of $3,011,721.96. Following the completion of the sale, the chief executive officer directly owned 87,519 shares in the company, valued at approximately $16,078,990.68. This trade represents a 15.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Institutional Trading of Albemarle

Large investors have recently made changes to their positions in the stock. Strategic Advocates LLC bought a new stake in shares of Albemarle in the third quarter worth approximately $25,000. MH & Associates Securities Management Corp ADV bought a new stake in shares of Albemarle in the fourth quarter worth approximately $26,000. BOKF NA grew its stake in shares of Albemarle by 5,771.4% in the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 404 shares during the period. Elyxium Wealth LLC bought a new stake in shares of Albemarle in the fourth quarter worth approximately $34,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Albemarle by 536.7% in the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 483 shares during the period. 92.87% of the stock is currently owned by institutional investors.

About Albemarle

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.