Albemarle Corp. (NYSE:ALB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

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. “

ALB has been the topic of a number of other research reports. 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 note on Tuesday, August 9th. Deutsche Bank AG reissued a “buy” rating and issued a $94.00 price objective (up previously from $84.00) on shares of Albemarle Corp. in a research note on Monday, June 20th. Nomura set a $92.00 price objective on Albemarle Corp. and gave the stock a “buy” rating in a research note on Tuesday, August 23rd. Finally, Morgan Stanley reissued a “hold” rating on shares of Albemarle Corp. in a research note on Thursday, June 16th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $80.00.

Analyst Recommendations for Albemarle Corp. (NYSE:ALB)

Albemarle Corp. (NYSE:ALB) traded up 1.35% on Monday, hitting $83.48. 623,019 shares of the stock were exchanged. The company’s 50-day moving average is $81.24 and its 200-day moving average is $77.32. Albemarle Corp. has a 52 week low of $45.78 and a 52 week high of $87.29. The company has a market cap of $9.38 billion, a PE ratio of 61.47 and a beta of 1.77.

Albemarle Corp. (NYSE:ALB) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.08. The business had revenue of $669.30 million for the quarter, compared to analyst estimates of $860.40 million. Albemarle Corp. had a return on equity of 14.52% and a net margin of 4.54%. Albemarle Corp.’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 EPS. On average, analysts predict that Albemarle Corp. will post $3.48 earnings per share for the current year.

In other Albemarle Corp. news, Director John Sherman, Jr. sold 4,300 shares of the stock in a transaction dated 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 directly owns 1,500 shares in the company, valued at $123,135. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Luther C. Iv Kissam sold 50,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $19,383,270. The disclosure for this sale can be found here. 0.71% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its stake in shares of Albemarle Corp. by 0.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,438 shares of the company’s stock valued at $114,000 after buying an additional 7 shares during the period. Eqis Capital Management Inc. increased its stake in shares of Albemarle Corp. by 0.3% in the second quarter. Eqis Capital Management Inc. now owns 3,365 shares of the company’s stock valued at $267,000 after buying an additional 11 shares during the period. Genesee Valley Trust Co. increased its stake in shares of Albemarle Corp. by 0.4% in the second quarter. Genesee Valley Trust Co. now owns 3,322 shares of the company’s stock valued at $263,000 after buying an additional 12 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in shares of Albemarle Corp. by 2.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 2,850 shares of the company’s stock valued at $203,000 after buying an additional 70 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Albemarle Corp. by 2.0% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 7,794 shares of the company’s stock valued at $618,000 after buying an additional 152 shares during the period. Institutional investors own 88.50% of the company’s stock.

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.

5 Day Chart for NYSE:ALB

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