Albemarle (NYSE:ALB) Price Target Raised to $103.00 at Robert W. Baird

Albemarle (NYSE:ALB) had its price objective upped by investment analysts at Robert W. Baird from $79.00 to $103.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. Robert W. Baird’s price target would indicate a potential upside of 5.54% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. Royal Bank of Canada boosted their target price on shares of Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Evercore ISI dropped their target price on Albemarle from $190.00 to $170.00 and set an “outperform” rating for the company in a research note on Wednesday, August 28th. Oppenheimer decreased their price target on Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. KeyCorp dropped their price objective on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company increased their price objective on shares of Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $115.74.

Albemarle Trading Down 2.0 %

NYSE:ALB opened at $97.59 on Wednesday. Albemarle has a 52-week low of $71.97 and a 52-week high of $153.54. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $101.91 and a 200-day simple moving average of $96.27. The company has a market capitalization of $11.47 billion, a PE ratio of -5.83 and a beta of 1.56.

Insider Activity

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the firm’s stock in a transaction dated 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. This trade represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.38% of the company’s stock.

Institutional Trading of Albemarle

A number of large investors have recently modified their holdings of ALB. Quarry LP raised its stake in Albemarle by 1,400.0% during the 3rd quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 252 shares in the last quarter. Eastern Bank acquired a new position in shares of Albemarle during the third quarter valued at $31,000. Cromwell Holdings LLC raised its stake in shares of Albemarle by 61.9% during the third quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 148 shares in the last quarter. TD Private Client Wealth LLC grew its position in Albemarle by 50.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 132 shares in the last quarter. Finally, Cornerstone Advisors LLC increased its stake in Albemarle by 100.0% during the 3rd quarter. Cornerstone Advisors LLC now owns 400 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

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.