Albemarle Corp. (NYSE:ALB) has been assigned a consensus recommendation of “Buy” from the thirteen research firms that are presently covering the company. Five investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $77.13.
Several equities research analysts recently weighed in on ALB shares. Morgan Stanley reaffirmed a “hold” rating on shares of Albemarle Corp. in a report on Thursday, June 16th. Nomura reaffirmed a “buy” rating and set a $85.00 price target on shares of Albemarle Corp. in a report on Tuesday, July 12th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Albemarle Corp. in a report on Wednesday, August 24th. Zacks Investment Research raised Albemarle Corp. from a “sell” rating to a “hold” rating in a report on Monday. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $89.00 price target on shares of Albemarle Corp. in a report on Wednesday, June 29th.
In other Albemarle Corp. news, Director John Sherman, Jr. sold 4,300 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was 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 $123,135. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Luther C. Iv Kissam sold 50,000 shares of the firm’s stock in a transaction on Wednesday, August 24th. The shares were 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 directly owns 233,000 shares of the company’s stock, valued at approximately $19,383,270. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in ALB. Creative Planning increased its stake in Albemarle Corp. by 16.8% in the third quarter. Creative Planning now owns 1,228 shares of the company’s stock worth $105,000 after buying an additional 177 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Albemarle Corp. by 0.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,438 shares of the company’s stock worth $114,000 after buying an additional 7 shares during the period. Carroll Financial Associates Inc. increased its stake in Albemarle Corp. by 475.4% in the third quarter. Carroll Financial Associates Inc. now owns 1,381 shares of the company’s stock worth $118,000 after buying an additional 1,141 shares during the period. Cantab Capital Partners LLP acquired a new stake in Albemarle Corp. during the second quarter worth approximately $120,000. Finally, Mizuho Asset Management Co. Ltd. increased its stake in Albemarle Corp. by 97.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,605 shares of the company’s stock worth $127,000 after buying an additional 794 shares during the period. 88.50% of the stock is owned by institutional investors.
Albemarle Corp. (NYSE:ALB) traded up 0.94% during midday trading on Friday, hitting $81.20. 365,039 shares of the stock were exchanged. The stock has a market cap of $9.13 billion, a P/E ratio of 59.79 and a beta of 1.77. The firm has a 50-day moving average price of $81.06 and a 200-day moving average price of $77.77. Albemarle Corp. has a one year low of $45.78 and a one year high of $87.29.
Albemarle Corp. (NYSE:ALB) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.08. Albemarle Corp. had a return on equity of 14.52% and a net margin of 4.54%. The firm earned $669.30 million during the quarter, compared to the consensus estimate of $860.40 million. During the same period last year, the company earned $0.73 earnings per share. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, equities research analysts anticipate that Albemarle Corp. will post $3.48 EPS for the current fiscal year.
Albemarle Corp. Company Profile
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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