Albemarle (NYSE:ALB) Price Target Lowered to $60.00 at Robert W. Baird

Albemarle (NYSE:ALB - Free Report) had its price target decreased by Robert W. Baird from $77.00 to $60.00 in a research report report published on Tuesday,Benzinga reports. Robert W. Baird currently has a neutral rating on the specialty chemicals company's stock.

Other equities analysts have also issued research reports about the company. Piper Sandler decreased their price target on Albemarle from $90.00 to $85.00 and set an "underweight" rating for the company in a research report on Thursday, February 20th. Wells Fargo & Company reduced their price target on shares of Albemarle from $80.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley cut their target price on shares of Albemarle from $73.00 to $68.00 and set an "underweight" rating on the stock in a research note on Tuesday, February 18th. Truist Financial decreased their target price on shares of Albemarle from $85.00 to $65.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Finally, Mizuho reduced their price objective on Albemarle from $90.00 to $85.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $96.05.

Albemarle Stock Performance

NYSE:ALB traded up $0.31 during mid-day trading on Tuesday, hitting $52.88. The stock had a trading volume of 3,117,402 shares, compared to its average volume of 2,718,336. Albemarle has a 52 week low of $49.43 and a 52 week high of $137.50. The company has a current ratio of 1.95, a quick ratio of 1.19 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of -4.72 and a beta of 1.59. The company has a 50 day simple moving average of $71.06 and a 200-day simple moving average of $87.15.

Albemarle (NYSE:ALB - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The specialty chemicals company reported ($1.09) EPS for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.49). Albemarle had a negative net margin of 21.93% and a negative return on equity of 1.72%. On average, research analysts expect that Albemarle will post -0.04 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Friday, March 14th. Albemarle's dividend payout ratio is currently -14.46%.

Hedge Funds Weigh In On Albemarle

Large investors have recently modified their holdings of the stock. QRG Capital Management Inc. acquired a new stake in shares of Albemarle in the first quarter valued at approximately $211,000. Sowell Financial Services LLC acquired a new stake in shares of Albemarle in the 1st quarter valued at $303,000. Janney Montgomery Scott LLC raised its position in shares of Albemarle by 20.4% during the first quarter. Janney Montgomery Scott LLC now owns 112,508 shares of the specialty chemicals company's stock worth $8,103,000 after acquiring an additional 19,099 shares during the last quarter. Legacy Trust lifted its stake in shares of Albemarle by 3.4% during the first quarter. Legacy Trust now owns 41,976 shares of the specialty chemicals company's stock valued at $3,023,000 after acquiring an additional 1,372 shares during the period. Finally, Polianta Ltd bought a new position in Albemarle in the first quarter valued at about $993,000. 92.87% of the stock is currently 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.