Albemarle (ALB) Coverage Initiated by Analysts at HSBC

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Equities researchers at HSBC initiated coverage on shares of Albemarle (NYSE:ALB) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating and a $96.32 price target on the specialty chemicals company’s stock. HSBC’s price target would indicate a potential upside of 8.65% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. ValuEngine cut shares of Albemarle from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. Loop Capital set a $130.00 price target on shares of Albemarle and gave the stock a “buy” rating in a research note on Monday, October 8th. SunTrust Banks raised shares of Albemarle from a “hold” rating to a “buy” rating and boosted their price target for the stock from $110.00 to $115.00 in a research note on Tuesday, September 4th. Vertical Research started coverage on shares of Albemarle in a research note on Tuesday, September 25th. They issued a “sell” rating and a $85.00 price target for the company. Finally, Zacks Investment Research cut shares of Albemarle from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $121.66.

ALB stock traded down $2.54 during midday trading on Friday, reaching $88.65. The company had a trading volume of 1,522,988 shares, compared to its average volume of 1,146,917. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.83 and a quick ratio of 1.18. Albemarle has a 1 year low of $86.75 and a 1 year high of $138.67. The stock has a market cap of $9.42 billion, a PE ratio of 19.31, a P/E/G ratio of 1.01 and a beta of 1.52.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, November 7th. The specialty chemicals company reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.06. Albemarle had a net margin of 10.44% and a return on equity of 15.39%. The business had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $796.79 million. During the same quarter in the previous year, the company earned $1.08 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, research analysts expect that Albemarle will post 5.43 EPS for the current fiscal year.

In other news, EVP Karen G. Narwold sold 3,100 shares of the company’s stock in a transaction on Monday, November 26th. The shares were sold at an average price of $96.54, for a total value of $299,274.00. Following the completion of the sale, the executive vice president now owns 27,142 shares of the company’s stock, valued at approximately $2,620,288.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of ALB. Aperio Group LLC raised its holdings in Albemarle by 6.5% during the 2nd quarter. Aperio Group LLC now owns 51,021 shares of the specialty chemicals company’s stock valued at $4,813,000 after buying an additional 3,108 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Albemarle by 18.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 375,111 shares of the specialty chemicals company’s stock valued at $35,384,000 after buying an additional 57,461 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Albemarle by 6.9% during the 2nd quarter. Wells Fargo & Company MN now owns 861,018 shares of the specialty chemicals company’s stock valued at $81,220,000 after buying an additional 55,732 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in Albemarle by 2.8% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 53,883 shares of the specialty chemicals company’s stock valued at $5,083,000 after buying an additional 1,444 shares during the last quarter. Finally, State of Wisconsin Investment Board raised its holdings in Albemarle by 6.2% during the 2nd quarter. State of Wisconsin Investment Board now owns 107,817 shares of the specialty chemicals company’s stock valued at $10,170,000 after buying an additional 6,328 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.

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Analyst Recommendations for Albemarle (NYSE:ALB)

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