Albemarle (NYSE:ALB) Price Target Lowered to $224.00 at Robert W. Baird

Albemarle (NYSE:ALB) had its price target decreased by equities research analysts at Robert W. Baird from $236.00 to $224.00 in a research note issued on Thursday,MarketScreener reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. Robert W. Baird’s price target points to a potential upside of 35.14% from the company’s previous close.

A number of other brokerages also recently issued reports on ALB. Wells Fargo & Company upped their price target on Albemarle from $165.00 to $200.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Truist Financial lifted their price target on shares of Albemarle from $245.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Wall Street Zen lowered shares of Albemarle from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 13th. Morgan Stanley upped their target price on shares of Albemarle from $170.00 to $189.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Finally, Vertical Research raised shares of Albemarle from a “hold” rating to a “buy” rating and set a $224.00 price target for the company in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $202.54.

Albemarle Stock Down 0.5%

NYSE:ALB opened at $165.75 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 2.07. The firm has a market cap of $19.55 billion, a P/E ratio of -48.83, a P/E/G ratio of 0.84 and a beta of 1.30. Albemarle has a fifty-two week low of $55.90 and a fifty-two week high of $221.00. The firm has a 50-day simple moving average of $180.79 and a two-hundred day simple moving average of $168.25.

Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $1.71. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The business’s revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. Analysts predict that Albemarle will post 12.39 earnings per share for the current fiscal year.

Insider Activity at Albemarle

In related news, CEO J Kent Masters sold 16,393 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $183.72, for a total transaction of $3,011,721.96. Following the completion of the transaction, the chief executive officer owned 87,519 shares in the company, valued at $16,078,990.68. This represents a 15.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. MH & Associates Securities Management Corp ADV acquired a new position in Albemarle in the fourth quarter valued at about $26,000. Elyxium Wealth LLC acquired a new position in shares of Albemarle in the 4th quarter worth approximately $34,000. Torren Management LLC purchased a new position in shares of Albemarle during the 4th quarter worth approximately $38,000. Sound Income Strategies LLC boosted its position in shares of Albemarle by 190.1% during the 1st quarter. Sound Income Strategies LLC now owns 293 shares of the specialty chemicals company’s stock worth $52,000 after purchasing an additional 192 shares during the period. Finally, Root Financial Partners LLC increased its holdings in Albemarle by 121.5% in the 4th quarter. Root Financial Partners LLC now owns 299 shares of the specialty chemicals company’s stock valued at $42,000 after purchasing an additional 164 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Albemarle Company Profile

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.