Albemarle (NYSE:ALB) Now Covered by KeyCorp

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Research analysts at KeyCorp began coverage on shares of Albemarle (NYSE:ALB) in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage set a “sector weight” rating on the specialty chemicals company’s stock.

ALB has been the topic of a number of other reports. Wells Fargo & Co increased their price target on Albemarle from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. Robert W. Baird lowered shares of Albemarle from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $90.00 to $100.00 in a research report on Wednesday, February 5th. Deutsche Bank reduced their target price on shares of Albemarle from $96.00 to $62.00 and set a “hold” rating for the company in a research note on Wednesday. TheStreet lowered shares of Albemarle from a “b-” rating to a “c+” rating in a research note on Friday, March 20th. Finally, Oppenheimer boosted their price objective on Albemarle from $86.00 to $116.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $85.07.

Shares of Albemarle stock traded up $3.99 on Wednesday, hitting $60.02. 2,295,500 shares of the company’s stock traded hands, compared to its average volume of 2,190,496. Albemarle has a 52-week low of $48.89 and a 52-week high of $99.40. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.70. The stock has a market cap of $5.41 billion, a P/E ratio of 11.96, a PEG ratio of 1.09 and a beta of 1.34. The firm’s 50-day moving average is $78.96 and its 200 day moving average is $71.74.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, February 19th. The specialty chemicals company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.02). Albemarle had a return on equity of 16.12% and a net margin of 14.86%. The company had revenue of $992.60 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business posted $1.53 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities research analysts forecast that Albemarle will post 4.83 EPS for the current year.

In other news, EVP Karen G. Narwold sold 2,495 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $85.19, for a total transaction of $212,549.05. Following the completion of the sale, the executive vice president now owns 41,960 shares in the company, valued at approximately $3,574,572.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott Tozier sold 14,500 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $80.13, for a total value of $1,161,885.00. Following the sale, the chief financial officer now owns 66,925 shares of the company’s stock, valued at approximately $5,362,700.25. The disclosure for this sale can be found here. Insiders sold 20,221 shares of company stock valued at $1,611,734 in the last ninety days. Corporate insiders own 1.02% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALB. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Albemarle by 0.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 176,692 shares of the specialty chemicals company’s stock worth $14,484,000 after acquiring an additional 460 shares in the last quarter. State Street Corp boosted its stake in shares of Albemarle by 6.1% during the 3rd quarter. State Street Corp now owns 7,256,385 shares of the specialty chemicals company’s stock worth $507,101,000 after acquiring an additional 417,021 shares in the last quarter. Carnegie Capital Asset Management LLC boosted its stake in shares of Albemarle by 2.0% during the 3rd quarter. Carnegie Capital Asset Management LLC now owns 8,337 shares of the specialty chemicals company’s stock worth $580,000 after acquiring an additional 160 shares in the last quarter. Ausdal Financial Partners Inc. boosted its stake in shares of Albemarle by 22.3% during the 3rd quarter. Ausdal Financial Partners Inc. now owns 3,502 shares of the specialty chemicals company’s stock worth $243,000 after acquiring an additional 639 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Albemarle by 0.5% during the 3rd quarter. California State Teachers Retirement System now owns 182,819 shares of the specialty chemicals company’s stock worth $12,710,000 after acquiring an additional 837 shares in the last quarter. 90.21% of the stock is owned by institutional investors and hedge funds.

Albemarle Company Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, 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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