Albemarle (NYSE:ALB) Earns “Overweight” Rating from KeyCorp

KeyCorp restated their overweight rating on shares of Albemarle (NYSE:ALB) in a research note released on Tuesday morning, 24/7 WallStreet reports. KeyCorp currently has a $94.00 price objective on the specialty chemicals company’s stock, down from their previous price objective of $100.00.

A number of other analysts have also weighed in on the stock. TheStreet lowered shares of Tribune Publishing from a c- rating to a d+ rating in a research note on Monday, May 20th. Royal Bank of Canada increased their price objective on shares of PVH to $145.00 and gave the stock an outperform rating in a research note on Friday, March 29th. Buckingham Research cut their price objective on shares of Albemarle from $100.00 to $88.00 and set a neutral rating on the stock in a research note on Friday, March 29th. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Finally, Loop Capital cut their price objective on shares of Albemarle to $108.00 and set a buy rating on the stock in a research note on Thursday, May 16th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $95.77.

NYSE ALB opened at $70.58 on Tuesday. The business has a fifty day moving average of $68.88. The stock has a market capitalization of $7.48 billion, a PE ratio of 12.88, a P/E/G ratio of 0.74 and a beta of 1.63. Albemarle has a 12-month low of $63.10 and a 12-month high of $108.74. The company has a current ratio of 1.55, a quick ratio of 0.96 and a debt-to-equity ratio of 0.36.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, May 8th. The specialty chemicals company reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.02. The business had revenue of $832.06 million during the quarter, compared to analysts’ expectations of $827.94 million. Albemarle had a net margin of 20.54% and a return on equity of 15.53%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company posted $1.30 earnings per share. On average, sell-side analysts forecast that Albemarle will post 6.22 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were given a dividend of $0.3675 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.47 annualized dividend and a yield of 2.08%. Albemarle’s dividend payout ratio is presently 26.82%.

In other news, SVP Deeanne J. Marlow purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average price of $70.85 per share, for a total transaction of $70,850.00. Following the completion of the transaction, the senior vice president now owns 1,000 shares in the company, valued at $70,850. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.02% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Icon Wealth Partners LLC acquired a new stake in Albemarle during the first quarter valued at $25,000. Pinnacle Bank acquired a new stake in Albemarle during the fourth quarter valued at $27,000. Alpha Omega Wealth Management LLC grew its position in Albemarle by 125.0% during the first quarter. Alpha Omega Wealth Management LLC now owns 360 shares of the specialty chemicals company’s stock valued at $30,000 after buying an additional 200 shares during the period. Thor Advisors LLC acquired a new stake in Albemarle during the first quarter valued at $37,000. Finally, QCM Cayman Ltd. grew its position in Albemarle by 241.6% during the first quarter. QCM Cayman Ltd. now owns 60,800 shares of the specialty chemicals company’s stock valued at $70,000 after buying an additional 43,000 shares during the period. Institutional investors own 89.77% 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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