Albemarle Corporation (NYSE:ALB) Stock Rating Lowered by BidaskClub

Albemarle Corporation (NYSE:ALB) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Other equities analysts also recently issued research reports about the company. Morgan Stanley decreased their price objective on Albemarle Corporation from $100.00 to $72.00 and set an “equal weight” rating for the company in a report on Thursday, May 25th. Royal Bank Of Canada increased their price objective on Albemarle Corporation from $132.00 to $136.00 and gave the stock an “outperform” rating in a report on Monday, May 8th. Nomura reiterated a “buy” rating and issued a $124.00 price objective on shares of Albemarle Corporation in a report on Friday, May 5th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $47.00 price objective on shares of Albemarle Corporation in a report on Thursday, June 29th. Finally, SunTrust Banks, Inc. downgraded Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 price objective for the company. in a report on Wednesday. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Albemarle Corporation presently has an average rating of “Buy” and an average price target of $106.69.

Shares of Albemarle Corporation (NYSE ALB) opened at 109.36 on Friday. The firm’s 50-day moving average is $113.72 and its 200-day moving average is $106.75. The company has a market cap of $12.08 billion, a price-to-earnings 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 posted its quarterly earnings data on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. The business had revenue of $737.25 million during the quarter, compared to the consensus estimate of $735.50 million. Albemarle Corporation had a return on equity of 11.59% and a net margin of 31.49%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.93 earnings per share. Equities research analysts predict that Albemarle Corporation will post $4.36 earnings per share for the current year.

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In related news, Director Douglas L. Maine sold 10,000 shares of Albemarle Corporation stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $107.94, for a total value of $1,079,400.00. Following the completion of the sale, the director now directly owns 24,150 shares in the company, valued at approximately $2,606,751. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Luther C. Iv Kissam sold 50,000 shares of Albemarle Corporation stock in a transaction dated 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 completion of the sale, the chairman now owns 252,917 shares of the company’s stock, valued at $27,841,103.36. The disclosure for this sale can be found here. Insiders sold a total of 105,000 shares of company stock valued at $11,499,850 over the last quarter. 0.74% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in ALB. Northwestern Mutual Wealth Management Co. increased its stake in 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 valued at $102,000 after buying an additional 20 shares during the last quarter. Carroll Financial Associates Inc. increased its stake in Albemarle Corporation by 0.3% in the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock valued at $103,000 after buying an additional 3 shares during the last quarter. Smithfield Trust Co. increased its stake in Albemarle Corporation by 16.1% in the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock valued at $106,000 after buying an additional 140 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Albemarle Corporation by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,454 shares of the specialty chemicals company’s stock valued at $154,000 after buying an additional 5 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in Albemarle Corporation by 18.7% in the first quarter. Van ECK Associates Corp now owns 1,614 shares of the specialty chemicals company’s stock valued at $171,000 after buying an additional 254 shares during the last quarter. Institutional investors 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.

Analyst Recommendations for Albemarle Corporation (NYSE:ALB)

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