KeyCorp Cuts Albemarle (NYSE:ALB) Price Target to $127.00

Albemarle (NYSE:ALB) had its price target trimmed by KeyCorp from $132.00 to $127.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the specialty chemicals company’s stock.

Other analysts have also recently issued research reports about the company. Royal Bank of Canada decreased their target price on Albemarle from $128.00 to $111.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft decreased their target price on Albemarle from $105.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 16th. Oppenheimer decreased their target price on Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Bank of America decreased their target price on Albemarle from $135.00 to $126.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Hsbc Global Res raised Albemarle to a “hold” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Albemarle has a consensus rating of “Hold” and an average price target of $114.47.

Albemarle Trading Down 1.5 %

Albemarle stock traded down $1.53 during midday trading on Tuesday, reaching $100.57. The stock had a trading volume of 183,655 shares, compared to its average volume of 2,961,007. Albemarle has a twelve month low of $71.97 and a twelve month high of $153.54. The company has a current ratio of 2.44, a quick ratio of 1.58 and a debt-to-equity ratio of 0.43. The firm’s fifty day simple moving average is $94.99 and its two-hundred day simple moving average is $100.22.

Albemarle Announces Dividend

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

Institutional Investors Weigh In On Albemarle

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Community Trust NA acquired a new stake in shares of Albemarle in the second quarter valued at about $25,000. CVA Family Office LLC grew its position in shares of Albemarle by 610.0% in the second quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 244 shares during the last quarter. Eastern Bank acquired a new stake in shares of Albemarle in the third quarter valued at about $31,000. Cromwell Holdings LLC grew its position in Albemarle by 61.9% during the third quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 148 shares in the last quarter. Finally, Cornerstone Advisors LLC grew its position in Albemarle by 100.0% during the third quarter. Cornerstone Advisors LLC now owns 400 shares of the specialty chemicals company’s stock worth $38,000 after buying an additional 200 shares in the last quarter. 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.