UBS Group Cuts Albemarle (NYSE:ALB) Price Target to $86.00

Albemarle (NYSE:ALB) had its target price lowered by UBS Group from $99.00 to $86.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s target price points to a potential upside of 12.64% from the company’s previous close.

ALB has been the subject of a number of other reports. Clarkson Capital started coverage on shares of Albemarle in a report on Tuesday, January 14th. They set a “buy” rating and a $112.00 price target for the company. Royal Bank of Canada decreased their price objective on shares of Albemarle from $133.00 to $114.00 and set an “overweight” rating for the company in a report on Wednesday. BMO Capital Markets reduced their price target on shares of Albemarle from $150.00 to $140.00 in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Albemarle from $109.00 to $105.00 in a research report on Wednesday. Finally, Truist Financial began coverage on shares of Albemarle in a research report on Tuesday, January 28th. They issued a “hold” rating and a $96.00 price objective on the stock. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Albemarle presently has a consensus rating of “Hold” and a consensus target price of $113.14.

Albemarle Trading Down 0.3 %

NYSE:ALB traded down $0.25 during trading hours on Thursday, reaching $76.35. 1,122,659 shares of the company were exchanged, compared to its average volume of 2,337,503. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58. The firm has a market cap of $8.97 billion, a price-to-earnings ratio of -4.51, a PEG ratio of 3.43 and a beta of 1.59. Albemarle has a 52-week low of $71.97 and a 52-week high of $143.19. The stock has a 50 day simple moving average of $90.00 and a 200 day simple moving average of $92.48.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.49). Albemarle had a positive return on equity of 1.67% and a negative net margin of 28.80%. As a group, analysts predict that Albemarle will post -1.55 EPS for the current year.

Insider Transactions at Albemarle

In other news, CEO J Kent Masters sold 2,525 shares of Albemarle stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $101.12, for a total value of $255,328.00. Following the transaction, the chief executive officer now owns 73,747 shares of the company’s stock, valued at $7,457,296.64. The trade was a 3.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Albemarle

Several hedge funds have recently made changes to their positions in ALB. Quarry LP grew its stake in shares of Albemarle by 1,400.0% in the 3rd quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 252 shares during the last quarter. Assetmark Inc. increased its position in shares of Albemarle by 340.6% in the fourth quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 235 shares in the last quarter. Trust Co. of Vermont increased its position in shares of Albemarle by 606.5% in the fourth quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 279 shares in the last quarter. Eastern Bank purchased a new position in shares of Albemarle in the third quarter worth approximately $31,000. Finally, First Community Trust NA increased its position in shares of Albemarle by 55.0% in the fourth quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock worth $34,000 after acquiring an additional 142 shares in 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.