Albemarle Corporation (NYSE:ALB) was downgraded by investment analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating in a report issued on Tuesday.
Other analysts have also issued research reports about the stock. BidaskClub lowered shares of Albemarle Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Royal Bank Of Canada reiterated a “buy” rating and issued a $136.00 target price on shares of Albemarle Corporation in a research note on Wednesday, September 20th. Instinet upped their target price on shares of Albemarle Corporation from $134.00 to $146.00 and gave the stock a “buy” rating in a research note on Monday, September 18th. KeyCorp reiterated a “buy” rating and issued a $125.00 target price on shares of Albemarle Corporation in a research note on Sunday, September 3rd. Finally, Jefferies Group LLC set a $144.00 target price on shares of Albemarle Corporation and gave the stock a “buy” rating in a research note on Monday, August 21st. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Albemarle Corporation has an average rating of “Buy” and a consensus target price of $128.45.
Shares of Albemarle Corporation (NYSE ALB) opened at $143.37 on Tuesday. Albemarle Corporation has a one year low of $76.32 and a one year high of $144.99. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 0.35. The stock has a market cap of $15,840.00, a price-to-earnings ratio of 34.81, a PEG ratio of 2.14 and a beta of 1.72.
Albemarle Corporation (NYSE:ALB) last posted its earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. Albemarle Corporation had a net margin of 30.07% and a return on equity of 11.61%. The firm had revenue of $755.00 million during the quarter, compared to analyst estimates of $732.19 million. During the same quarter in the prior year, the business posted $0.91 EPS. The business’s revenue was up 15.4% compared to the same quarter last year. research analysts expect that Albemarle Corporation will post 4.45 earnings per share for the current year.
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In other Albemarle Corporation news, EVP Karen G. Narwold sold 11,500 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $115.95, for a total transaction of $1,333,425.00. Following the completion of the transaction, the executive vice president now owns 36,620 shares in the company, valued at $4,246,089. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Matthew Juneau sold 5,397 shares of the 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 transaction, the executive vice president now owns 360 shares of the company’s stock, valued at approximately $41,677.20. The disclosure for this sale can be found here. 0.74% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in ALB. Thrivent Financial For Lutherans lifted its holdings in shares of Albemarle Corporation by 5.3% in the first quarter. Thrivent Financial For Lutherans now owns 4,150 shares of the specialty chemicals company’s stock worth $438,000 after buying an additional 210 shares in the last quarter. NN Investment Partners Holdings N.V. lifted its holdings in shares of Albemarle Corporation by 1,568.6% in the second quarter. NN Investment Partners Holdings N.V. now owns 11,530 shares of the specialty chemicals company’s stock worth $1,217,000 after buying an additional 10,839 shares in the last quarter. Creative Planning lifted its holdings in shares of Albemarle Corporation by 11.4% in the second quarter. Creative Planning now owns 3,506 shares of the specialty chemicals company’s stock worth $370,000 after buying an additional 359 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Albemarle Corporation by 2.2% in the second quarter. State of Alaska Department of Revenue now owns 3,228 shares of the specialty chemicals company’s stock worth $340,000 after buying an additional 70 shares in the last quarter. Finally, National Pension Service lifted its holdings in shares of Albemarle Corporation by 9.7% in the second quarter. National Pension Service now owns 117,966 shares of the specialty chemicals company’s stock worth $12,348,000 after buying an additional 10,405 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.
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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