Albemarle (NYSE:ALB) was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued on Friday, February 22nd.
Several other equities analysts have also weighed in on the stock. Loop Capital increased their price objective on shares of Albemarle from $112.00 to $119.00 and gave the company a “buy” rating in a research report on Thursday, February 21st. reissued a “buy” rating and issued a $157.00 price objective on shares of Albemarle in a research report on Thursday, February 14th. Citigroup lowered shares of Albemarle from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $90.00 to $81.00 in a research report on Tuesday, February 5th. Vertical Group dropped their price objective on shares of Albemarle from $86.00 to $59.00 in a research report on Tuesday, January 15th. Finally, Nomura lowered shares of Albemarle from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $90.00 to $85.00 in a research report on Tuesday, January 15th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. Albemarle has an average rating of “Hold” and an average target price of $104.68.
Shares of ALB stock opened at $85.47 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.18 and a current ratio of 1.69. The firm has a market capitalization of $9.03 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 0.89 and a beta of 1.60. Albemarle has a 12 month low of $71.89 and a 12 month high of $108.74.
Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, February 20th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.07. Albemarle had a net margin of 20.55% and a return on equity of 15.82%. The firm had revenue of $921.70 million for the quarter, compared to analyst estimates of $894.45 million. During the same period in the prior year, the firm posted $1.34 earnings per share. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. Analysts anticipate that Albemarle will post 6.24 earnings per share for the current fiscal year.
In other news, EVP Karen G. Narwold sold 1,243 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $91.00, for a total value of $113,113.00. Following the completion of the transaction, the executive vice president now owns 34,757 shares of the company’s stock, valued at $3,162,887. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott Tozier sold 2,961 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $91.00, for a total transaction of $269,451.00. Following the completion of the transaction, the chief financial officer now directly owns 49,672 shares of the company’s stock, valued at approximately $4,520,152. The disclosure for this sale can be found here. Insiders have sold 8,842 shares of company stock worth $728,599 over the last quarter. Corporate insiders own 0.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Rehmann Capital Advisory Group raised its holdings in Albemarle by 3,087.5% in the 3rd quarter. Rehmann Capital Advisory Group now owns 255 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 247 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in Albemarle by 143.1% in the 4th quarter. Proficio Capital Partners LLC now owns 350 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 206 shares during the last quarter. First Quadrant L P CA bought a new position in Albemarle in the 4th quarter valued at approximately $31,000. Private Capital Group LLC raised its holdings in Albemarle by 332.7% in the 4th quarter. Private Capital Group LLC now owns 424 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 326 shares during the last quarter. Finally, Quantamental Technologies LLC bought a new position in Albemarle in the 4th quarter valued at approximately $69,000. 92.75% of the stock is owned by hedge funds and other institutional investors.
