Albemarle Corporation (NYSE:ALB) Stock Rating Lowered by BidaskClub
Albemarle Corporation (NYSE:ALB) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.
A number of other analysts also recently commented on ALB. SunTrust Banks, Inc. downgraded Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 target price on the stock. in a research note on Wednesday. Vertical Research restated a “hold” rating and issued a $109.00 target price (up previously from $108.00) on shares of Albemarle Corporation in a research note on Thursday. Royal Bank Of Canada restated a “buy” rating and issued a $136.00 target price on shares of Albemarle Corporation in a research note on Friday, July 14th. Zacks Investment Research downgraded Albemarle Corporation from a “buy” rating to a “hold” rating in a research note on Monday, April 24th. Finally, Aegis restated a “buy” rating on shares of Albemarle Corporation in a research note on Friday, July 7th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $106.69.
Albemarle Corporation (ALB) opened at 109.36 on Friday. The stock’s 50 day moving average price is $113.72 and its 200-day moving average price is $106.75. The stock has a market capitalization of $12.08 billion, a PE ratio of 13.99 and a beta of 1.59. Albemarle Corporation has a 52-week low of $75.11 and a 52-week high of $123.48.
Albemarle Corporation (NYSE:ALB) last issued its earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. Albemarle Corporation had a return on equity of 11.59% and a net margin of 31.49%. The firm had revenue of $737.25 million for the quarter, compared to the consensus estimate of $735.50 million. During the same quarter in the prior year, the business earned $0.93 earnings per share. The company’s revenue was up 10.1% compared to the same quarter last year. On average, equities analysts expect that Albemarle Corporation will post $4.36 EPS for the current fiscal year.
In other news, Chairman Luther C. Iv Kissam sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $110.08, for a total value of $5,504,000.00. Following the transaction, the chairman now owns 252,917 shares in the company, valued at $27,841,103.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Karen G. Narwold sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $108.16, for a total value of $2,163,200.00. Following the completion of the transaction, the executive vice president now owns 45,120 shares in the company, valued at approximately $4,880,179.20. The disclosure for this sale can be found here. Insiders have sold 105,000 shares of company stock worth $11,499,850 in the last quarter. 0.74% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in ALB. Hudson Valley Investment Advisors Inc. ADV purchased a new position in Albemarle Corporation during the first quarter valued at $227,000. State of Alaska Department of Revenue purchased a new position in Albemarle Corporation during the first quarter valued at $333,000. Rothschild Investment Corp IL increased its position in Albemarle Corporation by 4.0% in the first quarter. Rothschild Investment Corp IL now owns 5,200 shares of the specialty chemicals company’s stock valued at $549,000 after buying an additional 200 shares during the period. Columbus Circle Investors increased its position in Albemarle Corporation by 10.0% in the first quarter. Columbus Circle Investors now owns 1,110,457 shares of the specialty chemicals company’s stock valued at $117,309,000 after buying an additional 100,823 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Albemarle Corporation by 12.4% in the first quarter. Nisa Investment Advisors LLC now owns 58,820 shares of the specialty chemicals company’s stock valued at $6,214,000 after buying an additional 6,500 shares during the period. Institutional investors and hedge funds own 85.39% of the company’s stock.
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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