Albemarle Corporation (NYSE:ALB) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other analysts also recently commented on ALB. SunTrust Banks, Inc. downgraded Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 target price on the stock. in a research note on Wednesday. Vertical Research restated a “hold” rating and issued a $109.00 target price (up previously from $108.00) on shares of Albemarle Corporation in a research note on Thursday. Royal Bank Of Canada restated a “buy” rating and issued a $136.00 target price on shares of Albemarle Corporation in a research note on Friday, July 14th. Zacks Investment Research downgraded Albemarle Corporation from a “buy” rating to a “hold” rating in a research note on Monday, April 24th. Finally, Aegis restated a “buy” rating on shares of Albemarle Corporation in a research note on Friday, July 7th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $106.69.

Albemarle Corporation (ALB) opened at 109.36 on Friday. The stock’s 50 day moving average price is $113.72 and its 200-day moving average price is $106.75. The stock has a market capitalization of $12.08 billion, a PE ratio of 13.99 and a beta of 1.59. Albemarle Corporation has a 52-week low of $75.11 and a 52-week high of $123.48.

Albemarle Corporation (NYSE:ALB) last issued its earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. Albemarle Corporation had a return on equity of 11.59% and a net margin of 31.49%. The firm had revenue of $737.25 million for the quarter, compared to the consensus estimate of $735.50 million. During the same quarter in the prior year, the business earned $0.93 earnings per share. The company’s revenue was up 10.1% compared to the same quarter last year. On average, equities analysts expect that Albemarle Corporation will post $4.36 EPS for the current fiscal year.

WARNING: “Albemarle Corporation (ALB) Stock Rating Lowered by BidaskClub” was originally posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this article on another domain, it was illegally stolen and republished in violation of international copyright & trademark legislation. The original version of this article can be accessed at https://theolympiareport.com/2017/08/12/albemarle-corporation-alb-stock-rating-lowered-by-bidaskclub.html.

In other news, Chairman Luther C. Iv Kissam sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $110.08, for a total value of $5,504,000.00. Following the transaction, the chairman now owns 252,917 shares in the company, valued at $27,841,103.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Karen G. Narwold sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $108.16, for a total value of $2,163,200.00. Following the completion of the transaction, the executive vice president now owns 45,120 shares in the company, valued at approximately $4,880,179.20. The disclosure for this sale can be found here. Insiders have sold 105,000 shares of company stock worth $11,499,850 in the last quarter. 0.74% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in ALB. Hudson Valley Investment Advisors Inc. ADV purchased a new position in Albemarle Corporation during the first quarter valued at $227,000. State of Alaska Department of Revenue purchased a new position in Albemarle Corporation during the first quarter valued at $333,000. Rothschild Investment Corp IL increased its position in Albemarle Corporation by 4.0% in the first quarter. Rothschild Investment Corp IL now owns 5,200 shares of the specialty chemicals company’s stock valued at $549,000 after buying an additional 200 shares during the period. Columbus Circle Investors increased its position in Albemarle Corporation by 10.0% in the first quarter. Columbus Circle Investors now owns 1,110,457 shares of the specialty chemicals company’s stock valued at $117,309,000 after buying an additional 100,823 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Albemarle Corporation by 12.4% in the first quarter. Nisa Investment Advisors LLC now owns 58,820 shares of the specialty chemicals company’s stock valued at $6,214,000 after buying an additional 6,500 shares during the period. Institutional investors and hedge funds own 85.39% of the company’s stock.

Albemarle Corporation Company Profile

Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.

Analyst Recommendations for Albemarle Corporation (NYSE:ALB)

Receive News & Ratings for Albemarle Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.