Albemarle (NYSE:ALB) Given New $133.00 Price Target at Royal Bank of Canada

Albemarle (NYSE:ALB) had its price target boosted by Royal Bank of Canada from $108.00 to $133.00 in a report released on Tuesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the specialty chemicals company’s stock.

Several other equities research analysts have also recently commented on the company. Scotiabank dropped their price objective on Albemarle from $135.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 6th. Hsbc Global Res raised Albemarle to a “hold” rating in a research report on Wednesday, July 17th. Baird R W cut Albemarle from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 5th. Wells Fargo & Company lifted their price objective on Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Finally, HSBC cut Albemarle from a “buy” rating to a “hold” rating and set a $95.00 price objective on the stock. in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $114.47.

Albemarle Price Performance

Shares of Albemarle stock traded down $1.53 during trading on Tuesday, hitting $100.57. 183,655 shares of the company’s stock traded hands, compared to its average volume of 2,961,007. The company has a current ratio of 2.44, a quick ratio of 1.58 and a debt-to-equity ratio of 0.43. Albemarle has a 1 year low of $71.97 and a 1 year high of $153.54. The business has a 50-day simple moving average of $94.99 and a 200-day simple moving average of $100.22.

Albemarle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Friday, December 13th. Albemarle’s dividend payout ratio is currently -9.67%.

Hedge Funds Weigh In On Albemarle

Hedge funds have recently bought and sold shares of the business. First Community Trust NA bought a new position in Albemarle in the 2nd quarter valued at $25,000. CVA Family Office LLC grew its position in Albemarle by 610.0% in the 2nd quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 244 shares during the last quarter. Eastern Bank purchased a new stake in shares of Albemarle in the 3rd quarter worth $31,000. Cromwell Holdings LLC lifted its holdings in shares of Albemarle by 61.9% in the 3rd quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 148 shares during the period. Finally, Cornerstone Advisors LLC lifted its holdings in shares of Albemarle by 100.0% in the 3rd quarter. Cornerstone Advisors LLC now owns 400 shares of the specialty chemicals company’s stock worth $38,000 after buying an additional 200 shares during the period. Institutional investors 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.