Albemarle Corporation (NYSE:ALB) had its price target increased by KeyCorp from $125.00 to $150.00 in a research report report published on Monday, October 16th. KeyCorp currently has a buy rating on the specialty chemicals company’s stock.
A number of other brokerages have also recently issued reports on ALB. BidaskClub cut Albemarle Corporation from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Loop Capital started coverage on Albemarle Corporation in a research note on Thursday, September 28th. They set a buy rating and a $150.00 price objective for the company. Robert W. Baird reiterated an outperform rating and set a $135.00 price objective (up previously from $125.00) on shares of Albemarle Corporation in a research note on Tuesday, July 18th. They noted that the move was a valuation call. Nomura lifted their price objective on Albemarle Corporation from $146.00 to $154.00 and gave the company a buy rating in a research note on Tuesday, October 10th. Finally, SunTrust Banks, Inc. cut Albemarle Corporation from a buy rating to a hold rating and set a $121.00 price objective for the company. in a research note on Wednesday, August 9th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $125.45.
Shares of Albemarle Corporation (ALB) opened at 139.08 on Monday. The company has a 50 day moving average of $133.38 and a 200-day moving average of $117.31. Albemarle Corporation has a 12 month low of $76.32 and a 12 month high of $141.40. The firm has a market capitalization of $15.36 billion, a P/E ratio of 17.79 and a beta of 1.67.
Albemarle Corporation (NYSE:ALB) last released its quarterly earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.02. Albemarle Corporation had a return on equity of 11.59% and a net margin of 31.49%. The company had revenue of $737.25 million for the quarter, compared to analyst estimates of $735.50 million. During the same period in the previous year, the company posted $0.93 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. Analysts predict that Albemarle Corporation will post $4.38 EPS for the current year.
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In other Albemarle Corporation news, EVP Matthew Juneau sold 5,397 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $115.77, for a total transaction of $624,810.69. Following the completion of the sale, the executive vice president now owns 360 shares of the company’s stock, valued at $41,677.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Karen G. Narwold sold 11,500 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $115.95, for a total value of $1,333,425.00. Following the sale, the executive vice president now directly owns 36,620 shares of the company’s stock, valued at approximately $4,246,089. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Albemarle Corporation by 2.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock worth $102,000 after acquiring an additional 20 shares during the period. Carroll Financial Associates Inc. boosted its stake in shares of Albemarle Corporation by 0.3% in the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock worth $103,000 after acquiring an additional 3 shares during the period. Highlander Capital Management LLC bought a new position in shares of Albemarle Corporation in the second quarter worth about $106,000. Smithfield Trust Co. boosted its stake in shares of Albemarle Corporation by 16.1% in the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock worth $106,000 after acquiring an additional 140 shares during the period. Finally, Howe & Rusling Inc. boosted its stake in shares of Albemarle Corporation by 2,038.0% in the third quarter. Howe & Rusling Inc. now owns 1,069 shares of the specialty chemicals company’s stock worth $146,000 after acquiring an additional 1,019 shares during the period. 83.70% of the stock is owned by institutional investors and hedge funds.
Albemarle Corporation Company Profile
Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.
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