Albemarle (NYSE:ALB) Shares Down 0.5%

Albemarle Co. (NYSE:ALB)’s share price fell 0.5% during mid-day trading on Tuesday . The stock traded as low as $90.75 and last traded at $91.22. 530,804 shares traded hands during trading, a decline of 82% from the average session volume of 3,011,068 shares. The stock had previously closed at $91.67.

Analyst Upgrades and Downgrades

ALB has been the topic of several recent research reports. Mizuho upped their price objective on Albemarle from $112.00 to $128.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Robert W. Baird dropped their price objective on Albemarle from $170.00 to $127.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 9th. Berenberg Bank raised shares of Albemarle from a “hold” rating to a “buy” rating and raised their target price for the company from $130.00 to $160.00 in a research report on Thursday, April 11th. Bank of America raised Albemarle from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $137.00 to $156.00 in a research report on Wednesday, April 10th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $135.00 price objective (down previously from $150.00) on shares of Albemarle in a research report on Tuesday, May 21st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $145.65.

Albemarle Price Performance

The company has a market capitalization of $10.81 billion, a price-to-earnings ratio of 33.17, a price-to-earnings-growth ratio of 3.47 and a beta of 1.57. 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 fifty day moving average price of $104.86 and a 200 day moving average price of $116.34.

Albemarle (NYSE:ALB) last announced its earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.09). Albemarle had a net margin of 4.02% and a return on equity of 14.53%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the business earned $10.32 EPS. The company’s quarterly revenue was down 47.3% compared to the same quarter last year. On average, research analysts expect that Albemarle Co. will post 1.67 earnings per share for the current fiscal year.

Albemarle Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.405 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.62 annualized dividend and a dividend yield of 1.76%. This is a boost from Albemarle’s previous quarterly dividend of $0.40. Albemarle’s dividend payout ratio is currently 58.18%.

Insider Transactions at Albemarle

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

Institutional Investors Weigh In On Albemarle

Institutional investors have recently bought and sold shares of the business. Blue Trust Inc. grew its position in Albemarle by 24.5% during the fourth quarter. Blue Trust Inc. now owns 1,377 shares of the specialty chemicals company’s stock valued at $199,000 after purchasing an additional 271 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of Albemarle by 235.9% during the 4th quarter. Pinnacle Associates Ltd. now owns 12,107 shares of the specialty chemicals company’s stock valued at $1,749,000 after acquiring an additional 8,503 shares in the last quarter. Bridge Creek Capital Management LLC increased its stake in shares of Albemarle by 30.3% in the fourth quarter. Bridge Creek Capital Management LLC now owns 15,977 shares of the specialty chemicals company’s stock worth $2,308,000 after acquiring an additional 3,713 shares during the last quarter. JB Capital LLC purchased a new stake in shares of Albemarle during the fourth quarter worth $203,000. Finally, Oak Thistle LLC boosted its position in Albemarle by 464.3% during the fourth quarter. Oak Thistle LLC now owns 7,122 shares of the specialty chemicals company’s stock valued at $1,029,000 after purchasing an additional 5,860 shares during the last quarter. 92.87% of the stock is currently 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.