Albemarle (NYSE:ALB) Price Target Cut to $127.00 by Analysts at KeyCorp

Albemarle (NYSE:ALB) had its target price decreased by KeyCorp from $132.00 to $127.00 in a research note released on Tuesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the specialty chemicals company’s stock.

Several other research firms have also recently weighed in on ALB. Berenberg Bank cut shares of Albemarle from a “buy” rating to a “hold” rating and dropped their price target for the company from $160.00 to $83.00 in a research note on Wednesday, July 31st. HSBC downgraded Albemarle from a “buy” rating to a “hold” rating and set a $95.00 target price on the stock. in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft lowered their price target on Albemarle from $105.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 16th. Baird R W cut shares of Albemarle from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 5th. Finally, Oppenheimer dropped their price target on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $114.47.

Albemarle Trading Down 6.9 %

Shares of Albemarle stock opened at $102.90 on Tuesday. The stock’s 50 day simple moving average is $94.13 and its 200-day simple moving average is $100.15. The stock has a market cap of $12.09 billion, a P/E ratio of -6.14 and a beta of 1.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.75. Albemarle has a 1-year low of $71.97 and a 1-year high of $153.54.

Albemarle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.405 per share. The ex-dividend date is Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a yield of 1.57%. Albemarle’s payout ratio is currently -9.67%.

Hedge Funds Weigh In On Albemarle

Several large investors have recently bought and sold shares of ALB. Daiwa Securities Group Inc. grew its stake in Albemarle by 2.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 21,810 shares of the specialty chemicals company’s stock worth $2,066,000 after buying an additional 495 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Albemarle by 24.6% in the 3rd quarter. Cerity Partners LLC now owns 33,509 shares of the specialty chemicals company’s stock valued at $3,174,000 after acquiring an additional 6,607 shares during the period. Meridian Wealth Management LLC purchased a new stake in Albemarle in the 3rd quarter valued at $362,000. CFS Investment Advisory Services LLC acquired a new stake in Albemarle during the 3rd quarter worth $744,000. Finally, Charles Schwab Investment Management Inc. grew its position in Albemarle by 38.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,020,590 shares of the specialty chemicals company’s stock worth $96,660,000 after purchasing an additional 282,194 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Company Profile

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.