Albemarle (NYSE:ALB) Downgraded by Robert W. Baird to Neutral

Robert W. Baird cut shares of Albemarle (NYSE:ALB) from an outperform rating to a neutral rating in a report issued on Monday, Marketbeat.com reports. Robert W. Baird currently has $85.00 price objective on the specialty chemicals company’s stock, down from their prior price objective of $102.00.

Other research analysts have also issued research reports about the stock. Mizuho dropped their price target on shares of Albemarle from $128.00 to $103.00 in a research note on Wednesday, July 31st. Hsbc Global Res upgraded Albemarle to a hold rating in a report on Wednesday, July 17th. UBS Group decreased their price target on Albemarle from $124.00 to $109.00 and set a neutral rating for the company in a research note on Tuesday, July 9th. Royal Bank of Canada cut their price objective on Albemarle from $157.00 to $128.00 and set an overweight rating on the stock in a research note on Wednesday, July 31st. Finally, Berenberg Bank cut Albemarle from a buy rating to a hold rating and decreased their target price for the stock from $160.00 to $83.00 in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $128.11.

Albemarle Stock Up 3.5 %

ALB stock opened at $81.83 on Monday. The company has a 50 day moving average of $98.54 and a two-hundred day moving average of $114.43. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 3.48 and a beta of 1.57. Albemarle has a 12-month low of $79.00 and a 12-month high of $203.62. The company has a quick ratio of 1.91, a current ratio of 2.67 and a debt-to-equity ratio of 0.38.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, July 31st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.49). Albemarle had a positive return on equity of 6.38% and a negative net margin of 6.72%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the business posted $7.33 earnings per share. Albemarle’s revenue was down 39.7% on a year-over-year basis. On average, equities analysts anticipate that Albemarle will post 1.67 earnings per share for the current fiscal year.

Albemarle Increases Dividend

The firm 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 dividend of $0.405 per share. This is a boost from Albemarle’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.62 dividend on an annualized basis and a yield of 1.98%. Albemarle’s dividend payout ratio (DPR) is currently 58.91%.

Insider Activity

In related news, CAO John Clarence Barichivich III sold 1,475 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $132.17, for a total transaction of $194,950.75. Following the completion of the transaction, the chief accounting officer now owns 4,743 shares in the company, valued at approximately $626,882.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Albemarle news, CAO John Clarence Barichivich III sold 1,475 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $132.17, for a total transaction of $194,950.75. Following the sale, the chief accounting officer now directly owns 4,743 shares of the company’s stock, valued at $626,882.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Mark Richard Mummert sold 843 shares of Albemarle stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $135.53, for a total transaction of $114,251.79. Following the completion of the transaction, the senior vice president now owns 6,802 shares of the company’s stock, valued at approximately $921,875.06. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Institutional Trading of Albemarle

Several large investors have recently made changes to their positions in the business. WFA Asset Management Corp acquired a new position in Albemarle during the 1st quarter worth about $25,000. USCF Advisers LLC lifted its position in shares of Albemarle by 100.0% during the fourth quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 100 shares in the last quarter. Arlington Trust Co LLC bought a new stake in shares of Albemarle during the fourth quarter valued at approximately $30,000. Jones Financial Companies Lllp increased its holdings in shares of Albemarle by 2,942.9% in the fourth quarter. Jones Financial Companies Lllp now owns 213 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 206 shares in the last quarter. Finally, Quarry LP bought a new position in Albemarle in the 4th quarter worth approximately $33,000. Institutional investors own 92.87% of the company’s stock.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.