According to Zacks, “Albemarle Corporation is a major producer of fine and performance chemicals including polymer intermediates, cleaning product intermediates and additives, agricultural chemical intermediates, pharmaceutical intermediates, catalysts, brominated flame retardants, bromine chemicals and potassium and chlorine chemicals. “
A number of other equities analysts also recently commented on the company. Deutsche Bank AG reissued a buy rating on shares of Albemarle Corp. in a research report on Wednesday, August 24th. Nomura set a $92.00 price objective on Albemarle Corp. and gave the stock a buy rating in a research report on Tuesday, August 23rd. Citigroup Inc. boosted their price objective on Albemarle Corp. from $95.00 to $101.00 and gave the stock a buy rating in a research report on Tuesday, August 9th. Finally, Morgan Stanley reissued a hold rating on shares of Albemarle Corp. in a research report on Thursday, June 16th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $80.00.
Shares of Albemarle Corp. (NYSE:ALB) traded down 1.16% during trading on Monday, reaching $82.51. 24,684 shares of the company traded hands. The stock’s 50 day moving average is $81.26 and its 200 day moving average is $77.70. Albemarle Corp. has a 1-year low of $45.78 and a 1-year high of $87.29. The company has a market capitalization of $9.27 billion, a price-to-earnings ratio of 60.76 and a beta of 1.77.
Albemarle Corp. (NYSE:ALB) last released its earnings results on Wednesday, August 3rd. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.08. The company earned $669.30 million during the quarter, compared to the consensus estimate of $860.40 million. Albemarle Corp. had a return on equity of 14.52% and a net margin of 4.54%. Albemarle Corp.’s revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.73 EPS. On average, analysts forecast that Albemarle Corp. will post $3.48 EPS for the current year.
In other Albemarle Corp. news, CEO Luther C. Iv Kissam sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $83.19, for a total value of $4,159,500.00. Following the completion of the sale, the chief executive officer now owns 233,000 shares in the company, valued at $19,383,270. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John Sherman, Jr. sold 4,300 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $82.09, for a total value of $352,987.00. Following the completion of the sale, the director now owns 1,500 shares of the company’s stock, valued at approximately $123,135. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in ALB. Vanguard Group Inc. boosted its stake in Albemarle Corp. by 20.0% in the second quarter. Vanguard Group Inc. now owns 10,771,871 shares of the company’s stock valued at $854,316,000 after buying an additional 1,795,733 shares during the period. FMR LLC boosted its stake in Albemarle Corp. by 2.7% in the second quarter. FMR LLC now owns 8,704,263 shares of the company’s stock valued at $690,335,000 after buying an additional 231,955 shares during the period. State Street Corp boosted its stake in Albemarle Corp. by 9.1% in the second quarter. State Street Corp now owns 6,024,541 shares of the company’s stock valued at $477,813,000 after buying an additional 504,118 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Albemarle Corp. by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,318,019 shares of the company’s stock valued at $212,121,000 after buying an additional 25,747 shares during the period. Finally, BlackRock Group LTD boosted its stake in Albemarle Corp. by 2.9% in the first quarter. BlackRock Group LTD now owns 1,921,989 shares of the company’s stock valued at $122,873,000 after buying an additional 54,912 shares during the period. Institutional investors and hedge funds own 88.50% of the company’s stock.
About Albemarle Corp.
Albemarle Corporation is a developer, manufacturer and marketer of specialty chemicals across a range of end markets, including the petroleum refining, consumer electronics, energy storage, construction, automotive, steel and aerospace, lubricants, pharmaceuticals, heating, ventilation, and aluminum finishing.
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