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

Albemarle (NYSE:ALB) had its price objective lowered by UBS Group from $99.00 to $86.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the specialty chemicals company’s stock.

A number of other research firms have also recently weighed in on ALB. Truist Financial started coverage on Albemarle in a report on Tuesday, January 28th. They set a “hold” rating and a $96.00 price target on the stock. Robert W. Baird cut their target price on Albemarle from $103.00 to $92.00 and set a “neutral” rating on the stock in a research note on Wednesday. Oppenheimer decreased their price target on Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Evercore ISI cut shares of Albemarle from an “outperform” rating to an “inline” rating in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada reduced 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. One equities 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $113.14.

Albemarle Price Performance

Shares of ALB opened at $79.15 on Thursday. 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 company has a market cap of $9.30 billion, a P/E ratio of -4.73, a PEG ratio of 3.43 and a beta of 1.59. Albemarle has a 12 month low of $71.97 and a 12 month high of $143.19. The stock has a fifty day moving average price of $89.56 and a 200 day moving average price of $92.39.

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

Insider Activity

In related news, CEO J Kent Masters sold 2,525 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 73,747 shares of the company’s stock, valued at approximately $7,457,296.64. This trade represents a 3.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Institutional Trading of Albemarle

Several large investors have recently added to or reduced their stakes in the company. Farringdon Capital Ltd. acquired a new position in Albemarle during the fourth quarter valued at $378,000. NewEdge Advisors LLC grew its stake in Albemarle by 67.2% during the 4th quarter. NewEdge Advisors LLC now owns 7,325 shares of the specialty chemicals company’s stock valued at $631,000 after acquiring an additional 2,944 shares in the last quarter. United Capital Financial Advisors LLC increased its holdings in shares of Albemarle by 9.8% in the 4th quarter. United Capital Financial Advisors LLC now owns 3,858 shares of the specialty chemicals company’s stock valued at $332,000 after purchasing an additional 345 shares during the period. Jump Financial LLC lifted its position in shares of Albemarle by 19.2% in the fourth quarter. Jump Financial LLC now owns 201,099 shares of the specialty chemicals company’s stock worth $17,311,000 after purchasing an additional 32,451 shares in the last quarter. Finally, Belpointe Asset Management LLC acquired a new stake in shares of Albemarle during the fourth quarter worth approximately $452,000. 92.87% of the stock is owned by institutional investors and hedge funds.

About Albemarle

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.