Albemarle (NYSE:ALB) Shares Down 0.5%

Albemarle Co. (NYSE:ALB)’s share price dropped 0.5% during trading on Monday . The company traded as low as $93.19 and last traded at $94.22. Approximately 890,497 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 3,028,410 shares. The stock had previously closed at $94.66.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Berenberg Bank upgraded shares of Albemarle from a “hold” rating to a “buy” rating and increased their price target for the stock from $130.00 to $160.00 in a research note on Thursday, April 11th. Scotiabank restated a “sector perform” rating and issued a $135.00 price target (down previously from $150.00) on shares of Albemarle in a research report on Tuesday, May 21st. Wells Fargo & Company upped their price objective on Albemarle from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft lifted their target price on Albemarle from $125.00 to $140.00 and gave the company a “hold” rating in a research note on Tuesday, May 7th. Finally, KeyCorp cut their price target on Albemarle from $178.00 to $159.00 and set an “overweight” rating for the company in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $155.78.

Albemarle Trading Up 8.1 %

The firm has a market cap of $11.79 billion, a PE ratio of 36.47, a PEG ratio of 2.80 and a beta of 1.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.84 and a quick ratio of 1.91. The business has a 50-day moving average price of $118.42 and a two-hundred day moving average price of $124.14.

Albemarle (NYSE:ALB) last posted its earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.09). Albemarle had a net margin of 4.02% and a return on equity of 14.53%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the company posted $10.32 EPS. Albemarle’s quarterly revenue was down 47.3% compared to the same quarter last year. Analysts forecast that Albemarle Co. will post 2.07 EPS for the current year.

Albemarle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 1.60%. Albemarle’s dividend payout ratio (DPR) is 58.18%.

Insiders Place Their Bets

In other news, SVP Mark Richard Mummert sold 843 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $135.53, for a total value 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 $921,875.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Albemarle news, CAO John Clarence Barichivich III sold 1,475 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $132.17, for a total value of $194,950.75. Following the sale, the chief accounting officer now directly owns 4,743 shares of the company’s stock, valued at approximately $626,882.31. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Mark Richard Mummert sold 843 shares of Albemarle stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $135.53, for a total value of $114,251.79. Following the completion of the sale, 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. 0.38% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Albemarle

Hedge funds have recently modified their holdings of the stock. WFA Asset Management Corp purchased a new stake in shares of Albemarle during the 1st quarter worth about $25,000. USCF Advisers LLC boosted its stake in shares of Albemarle by 100.0% in the fourth quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 100 shares during the period. Arlington Trust Co LLC acquired a new stake in Albemarle during the 4th quarter valued at $30,000. Jones Financial Companies Lllp increased its stake in Albemarle by 2,942.9% during the 4th quarter. Jones Financial Companies Lllp now owns 213 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 206 shares during the period. Finally, First Financial Corp IN acquired a new position in Albemarle in the 1st quarter worth $32,000. 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.