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

Albemarle Co. (NYSE:ALB – Get Rating) has been given a consensus rating of “Hold” by the twenty-one research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $291.39.

A number of research firms have weighed in on ALB. StockNews.com began coverage on Albemarle in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Vertical Research raised Albemarle from a “hold” rating to a “buy” rating and set a $275.00 price objective on the stock in a report on Wednesday, January 4th. UBS Group decreased their price objective on Albemarle from $297.00 to $250.00 and set a “neutral” rating on the stock in a report on Wednesday, January 11th. Royal Bank of Canada lifted their price objective on Albemarle from $371.00 to $380.00 and gave the company an “outperform” rating in a report on Tuesday, November 8th. Finally, Bank of America lifted their price objective on Albemarle from $262.00 to $332.00 and gave the company a “neutral” rating in a report on Monday, October 3rd.

Albemarle Trading Up 1.5 %

Shares of ALB opened at $264.59 on Wednesday. Albemarle has a 12-month low of $169.93 and a 12-month high of $334.55. The company has a quick ratio of 1.08, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $31.00 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 0.57 and a beta of 1.45. The stock’s 50-day moving average price is $248.26 and its 200 day moving average price is $259.38.

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

Insiders Place Their Bets

In other Albemarle 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 transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related 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 value 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction of $735,642.00. Following the completion of the sale, the insider now owns 15,564 shares of the company’s stock, valued at approximately $4,790,599.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,681 shares of company stock valued at $5,310,662. 0.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Albemarle

A number of large investors have recently made changes to their positions 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. Itau Unibanco Holding S.A. acquired a new position in Albemarle in the 3rd quarter worth $37,000. Trustcore Financial Services LLC boosted its stake in Albemarle by 49.0% in the 3rd quarter. Trustcore Financial Services LLC now owns 149 shares of the specialty chemicals company’s stock worth $39,000 after purchasing an additional 49 shares during the period. Finally, 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. Institutional investors own 82.24% of the company’s stock.

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.