Brokerages Set Albemarle Co. (ALB) Price Target at $129.53
Shares of Albemarle Co. (NYSE:ALB) have been assigned a consensus rating of “Buy” from the twenty-three brokerages that are presently covering the stock, MarketBeat.com reports. Ten investment analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $129.53.
Several equities analysts have recently weighed in on the company. ValuEngine downgraded Albemarle from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Deutsche Bank downgraded Albemarle from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Jefferies Group lifted their price objective on Albemarle from $156.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday, November 14th. Nomura lifted their price objective on Albemarle to $159.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. Finally, Royal Bank of Canada lifted their price objective on Albemarle from $149.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, November 10th.
Shares of Albemarle (NYSE:ALB) traded down $0.78 during trading on Thursday, reaching $130.36. The company’s stock had a trading volume of 1,025,820 shares, compared to its average volume of 1,178,852. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.11 and a quick ratio of 1.56. The stock has a market capitalization of $14,430.73, a price-to-earnings ratio of 32.33, a P/E/G ratio of 1.98 and a beta of 1.69. Albemarle has a fifty-two week low of $85.60 and a fifty-two week high of $144.99.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Thursday, December 14th. Albemarle’s dividend payout ratio is currently 16.56%.
Institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Albemarle by 2.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock worth $102,000 after buying an additional 20 shares during the period. Thompson Davis & CO. Inc. lifted its holdings in shares of Albemarle by 650.0% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock worth $102,000 after buying an additional 650 shares during the period. Smithfield Trust Co. lifted its holdings in shares of Albemarle by 16.1% in the 2nd quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock worth $106,000 after buying an additional 140 shares during the period. Highlander Capital Management LLC purchased a new stake in shares of Albemarle in the 2nd quarter worth $106,000. Finally, Advisory Services Network LLC lifted its holdings in shares of Albemarle by 43.7% in the 2nd 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. 88.10% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: “Brokerages Set Albemarle Co. (ALB) Price Target at $129.53” was first published by Watch List News and is the property of of Watch List News. If you are viewing this piece on another domain, it was stolen and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be accessed at https://www.watchlistnews.com/brokerages-set-albemarle-co-alb-price-target-at-129-53/1760229.html.
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.
Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.