Albemarle (NYSE:ALB) Given New $103.00 Price Target at Robert W. Baird

Albemarle (NYSE:ALB) had its price target lifted by Robert W. Baird from $79.00 to $103.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. Robert W. Baird’s price objective points to a potential upside of 5.54% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. Oppenheimer lowered their price objective on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Evercore ISI decreased their price target on shares of Albemarle from $190.00 to $170.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 28th. KeyCorp cut their price objective on Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Wells Fargo & Company lifted their target price on Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada boosted their target price on Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $115.74.

Albemarle Trading Down 2.0 %

Shares of ALB stock opened at $97.59 on Wednesday. The stock has a 50-day simple moving average of $101.91 and a 200 day simple moving average of $96.27. The stock has a market capitalization of $11.47 billion, a P/E ratio of -5.83 and a beta of 1.56. Albemarle has a fifty-two week low of $71.97 and a fifty-two week high of $153.54. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43.

Insider Activity at Albemarle

In other news, CEO J Kent Masters sold 2,525 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $101.12, for a total transaction of $255,328.00. Following the transaction, the chief executive officer now owns 73,747 shares in the company, valued at approximately $7,457,296.64. This trade represents a 3.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Albemarle

Several hedge funds have recently bought and sold shares of the business. Retirement Systems of Alabama boosted its position in shares of Albemarle by 0.7% in the third quarter. Retirement Systems of Alabama now owns 26,098 shares of the specialty chemicals company’s stock valued at $2,472,000 after acquiring an additional 171 shares during the period. Inspire Trust Co. N.A. boosted its holdings in Albemarle by 9.9% in the 3rd quarter. Inspire Trust Co. N.A. now owns 11,120 shares of the specialty chemicals company’s stock valued at $1,053,000 after purchasing an additional 1,000 shares during the period. Tidal Investments LLC grew its position in Albemarle by 1.5% in the 3rd quarter. Tidal Investments LLC now owns 18,457 shares of the specialty chemicals company’s stock worth $1,748,000 after purchasing an additional 274 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Albemarle during the 3rd quarter worth about $267,000. Finally, Rehmann Capital Advisory Group raised its position in shares of Albemarle by 5.3% during the third quarter. Rehmann Capital Advisory Group now owns 4,542 shares of the specialty chemicals company’s stock valued at $430,000 after buying an additional 228 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

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.