Albemarle (ALB) Downgraded by TheStreet

Albemarle (NYSE:ALB) was downgraded by investment analysts at TheStreet from a “b-” rating to a “c+” rating in a research report issued on Monday, TheStreetRatingsTable reports.

ALB has been the topic of a number of other reports. Jefferies Financial Group reduced their price objective on shares of Albemarle from $114.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday. They noted that the move was a valuation call. Royal Bank of Canada reduced their price objective on shares of Albemarle to $100.00 and set an “outperform” rating on the stock in a research note on Friday, March 29th. KeyCorp reduced their price objective on shares of Albemarle from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Loop Capital reduced their price objective on shares of Albemarle to $108.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Finally, Buckingham Research reduced their price objective on shares of Albemarle from $100.00 to $88.00 and set a “neutral” rating on the stock in a research note on Friday, March 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $98.98.

ALB opened at $68.50 on Monday. The firm has a market cap of $7.18 billion, a P/E ratio of 12.50, a PEG ratio of 0.71 and a beta of 1.56. Albemarle has a twelve month low of $67.06 and a twelve month high of $108.74. The company has a quick ratio of 0.96, a current ratio of 1.55 and a debt-to-equity ratio of 0.36.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, May 8th. The specialty chemicals company reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.02. The business had revenue of $832.06 million during the quarter, compared to analyst estimates of $827.94 million. Albemarle had a net margin of 20.54% and a return on equity of 15.53%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $1.30 EPS. Equities analysts forecast that Albemarle will post 6.24 earnings per share for the current year.

In other news, CFO Scott Tozier sold 2,961 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $91.00, for a total value of $269,451.00. Following the transaction, the chief financial officer now directly owns 49,672 shares in the company, valued at approximately $4,520,152. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Deeanne J. Marlow purchased 1,000 shares of Albemarle stock in a transaction dated Monday, May 13th. The stock was acquired at an average price of $70.85 per share, for a total transaction of $70,850.00. Following the completion of the transaction, the senior vice president now owns 1,000 shares in the company, valued at approximately $70,850. The disclosure for this purchase can be found here. Company insiders own 1.02% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Albemarle by 2.4% in the 1st quarter. BlackRock Inc. now owns 7,621,922 shares of the specialty chemicals company’s stock worth $624,846,000 after buying an additional 176,605 shares during the last quarter. Primecap Management Co. CA lifted its position in Albemarle by 6.0% in the 1st quarter. Primecap Management Co. CA now owns 4,415,880 shares of the specialty chemicals company’s stock valued at $362,014,000 after purchasing an additional 249,100 shares during the last quarter. Baillie Gifford & Co. lifted its position in Albemarle by 0.5% in the 4th quarter. Baillie Gifford & Co. now owns 2,636,011 shares of the specialty chemicals company’s stock valued at $203,158,000 after purchasing an additional 13,487 shares during the last quarter. Principal Financial Group Inc. lifted its position in Albemarle by 27.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,720,253 shares of the specialty chemicals company’s stock valued at $141,028,000 after purchasing an additional 375,253 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Albemarle by 22.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,489,687 shares of the specialty chemicals company’s stock valued at $122,120,000 after purchasing an additional 271,061 shares during the last quarter. Institutional investors own 94.20% of the company’s stock.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.

Recommended Story: P/E Growth (PEG)

Analyst Recommendations for Albemarle (NYSE:ALB)

Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.