Albemarle (NYSE:ALB) Stock Rating Upgraded by Loop Capital

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Loop Capital upgraded shares of Albemarle (NYSE:ALB) from a sell rating to a hold rating in a research note released on Friday, BenzingaRatingsTable reports. The brokerage currently has $73.00 price objective on the specialty chemicals company’s stock, up from their prior price objective of $48.00.

ALB has been the topic of several other reports. Wells Fargo & Co decreased their price target on shares of Albemarle from $105.00 to $68.00 and set an equal weight rating on the stock in a research note on Friday, March 27th. UBS Group reduced their price objective on shares of Albemarle from $98.00 to $90.00 and set a buy rating on the stock in a research note on Thursday, May 7th. Royal Bank of Canada raised their price objective on shares of Albemarle from $64.00 to $66.00 and gave the company a sector perform rating in a research note on Monday, May 11th. Cfra reduced their price objective on shares of Albemarle from $100.00 to $70.00 and set a hold rating on the stock in a research note on Friday, April 3rd. Finally, Zacks Investment Research raised shares of Albemarle from a sell rating to a hold rating and set a $67.00 price objective on the stock in a research note on Monday, May 11th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $74.23.

ALB opened at $76.33 on Friday. Albemarle has a one year low of $48.89 and a one year high of $99.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.81 and a quick ratio of 1.09. The company’s 50 day simple moving average is $73.53 and its 200-day simple moving average is $72.12. The stock has a market capitalization of $8.18 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 2.60 and a beta of 1.47.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.15. Albemarle had a net margin of 14.50% and a return on equity of 15.34%. The business had revenue of $738.85 million for the quarter, compared to analysts’ expectations of $769.26 million. During the same period in the prior year, the firm earned $1.23 earnings per share. Albemarle’s revenue was down 11.2% compared to the same quarter last year. As a group, analysts anticipate that Albemarle will post 3.37 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be issued a dividend of $0.385 per share. The ex-dividend date is Thursday, June 11th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 2.02%. Albemarle’s payout ratio is 25.50%.

Several large investors have recently modified their holdings of ALB. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Albemarle by 0.3% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 176,692 shares of the specialty chemicals company’s stock worth $14,484,000 after acquiring an additional 460 shares during the period. Victory Capital Management Inc. grew its position in Albemarle by 24.5% in the fourth quarter. Victory Capital Management Inc. now owns 48,639 shares of the specialty chemicals company’s stock valued at $3,553,000 after purchasing an additional 9,575 shares in the last quarter. Cetera Advisor Networks LLC grew its position in Albemarle by 5.2% in the fourth quarter. Cetera Advisor Networks LLC now owns 8,368 shares of the specialty chemicals company’s stock valued at $609,000 after purchasing an additional 412 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Albemarle in the fourth quarter valued at $204,000. Finally, ING Groep NV bought a new position in Albemarle in the fourth quarter valued at $531,000. Institutional investors and hedge funds own 92.57% of the company’s stock.

Albemarle Company Profile

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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