Albemarle (ALB) Shares Gap Down After Analyst Downgrade

Albemarle Co. (NYSE:ALB)’s share price gapped down before the market opened on Friday after Jefferies Group lowered their price target on the stock to $150.00. The stock had previously closed at $138.70, but opened at $126.95. Jefferies Group currently has a buy rating on the stock. Albemarle shares last traded at $117.91, with a volume of 8622300 shares trading hands.

ALB has been the subject of several other research reports. Robert W. Baird reaffirmed a “hold” rating and set a $135.00 price target on shares of Albemarle in a research report on Wednesday, November 1st. Nomura upped their price target on shares of Albemarle from $146.00 to $154.00 and gave the company a “buy” rating in a research report on Tuesday, October 10th. Royal Bank of Canada reaffirmed a “buy” rating and set a $149.00 price target on shares of Albemarle in a research report on Wednesday, October 18th. Oppenheimer reaffirmed a “buy” rating on shares of Albemarle in a research report on Wednesday. Finally, Deutsche Bank lowered shares of Albemarle from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Albemarle currently has a consensus rating of “Buy” and a consensus price target of $127.78.

A number of institutional investors have recently added to or reduced their stakes in ALB. Northwestern Mutual Wealth Management Co. increased its holdings in 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 acquiring an additional 20 shares in the last quarter. Thompson Davis & CO. Inc. increased its holdings in 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 acquiring an additional 650 shares in the last quarter. Highlander Capital Management LLC purchased a new stake in Albemarle in the 2nd quarter worth approximately $106,000. Advisory Services Network LLC increased its holdings in 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 acquiring an additional 387 shares in the last quarter. Finally, Howe & Rusling Inc. increased its holdings in Albemarle by 2,038.0% in the 3rd quarter. Howe & Rusling Inc. now owns 1,069 shares of the specialty chemicals company’s stock worth $146,000 after acquiring an additional 1,019 shares in the last quarter. 88.07% of the stock is owned by institutional investors.

The company has a market cap of $12,820.00, a price-to-earnings ratio of 41.43, a PEG ratio of 1.66 and a beta of 1.69. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.11 and a quick ratio of 1.56.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. Albemarle had a net margin of 30.07% and a return on equity of 11.61%. The business had revenue of $755.00 million during the quarter, compared to analyst estimates of $732.19 million. During the same period last year, the firm posted $0.91 EPS. The company’s revenue was up 15.4% on a year-over-year basis. equities research analysts predict that Albemarle Co. will post 4.46 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Thursday, December 14th. Albemarle’s dividend payout ratio (DPR) is currently 45.71%.

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About Albemarle

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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