Albemarle Co. (NYSE:ALB) Receives Consensus Rating of “Hold” from Analysts

Shares of Albemarle Co. (NYSE:ALB – Get Rating) have earned a consensus rating of “Hold” from the twenty-one brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $291.39.

A number of equities analysts have recently commented on the company. Bank of America lifted their price objective on Albemarle from $262.00 to $332.00 and gave the stock a “neutral” rating in a research note on Monday, October 3rd. UBS Group lowered their price target on Albemarle from $297.00 to $250.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 11th. Jefferies Financial Group restated a “buy” rating and set a $350.00 price target on shares of Albemarle in a research note on Friday, September 30th. Morgan Stanley boosted their price target on Albemarle from $145.00 to $155.00 and gave the company an “underweight” rating in a research note on Monday, November 28th. Finally, Mizuho lowered their price target on Albemarle from $325.00 to $300.00 and set a “neutral” rating on the stock in a research note on Thursday, January 12th.

Albemarle Price Performance

NYSE ALB opened at $264.59 on Wednesday. Albemarle has a fifty-two week low of $169.93 and a fifty-two week high of $334.55. The stock’s 50-day moving average is $248.26 and its two-hundred day moving average is $259.38. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.08. The firm has a market cap of $31.00 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 0.57 and a beta of 1.45.

Albemarle (NYSE:ALB – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The specialty chemicals company reported $7.50 EPS for the quarter, topping analysts’ consensus estimates of $6.84 by $0.66. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.21 billion. Albemarle had a return on equity of 26.84% and a net margin of 27.77%. The firm’s revenue for the quarter was up 151.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 earnings per share. On average, analysts anticipate that Albemarle will post 20.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Albemarle

In other Albemarle news, EVP Karen G. Narwold sold 2,250 shares of the company’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $285.66, for a total transaction of $642,735.00. Following the completion of the sale, the executive vice president now owns 11,444 shares in the company, valued at approximately $3,269,093.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Eric Norris sold 2,390 shares of the company’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $307.80, for a total value of $735,642.00. Following the completion of the sale, the insider now owns 15,564 shares in the company, valued at approximately $4,790,599.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Karen G. Narwold sold 2,250 shares of the company’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $285.66, for a total transaction of $642,735.00. Following the completion of the sale, the executive vice president now owns 11,444 shares of the company’s stock, valued at approximately $3,269,093.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,681 shares of company stock worth $5,310,662. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Albemarle

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALB. SJS Investment Consulting Inc. acquired a new position in Albemarle in the 3rd quarter worth $28,000. Covestor Ltd boosted its stake in Albemarle by 51.2% in the 1st quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 44 shares during the period. Tompkins Financial Corp boosted its stake in Albemarle by 50.0% in the 4th quarter. Tompkins Financial Corp now owns 150 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 50 shares during the period. Riverview Trust Co boosted its stake in Albemarle by 92.3% in the 2nd quarter. Riverview Trust Co now owns 175 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 84 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in Albemarle in the 3rd quarter worth $37,000. 82.24% of the stock is owned by institutional investors and hedge funds.

Albemarle Company Profile

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Albemarle Corp. engages in the development, manufacture, and marketing of chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, transportation, pharmaceuticals, crop production, food-safety, and custom chemistry services. It operates through the following segments: Lithium, Bromine, Catalysts, and All Other.