Albemarle Corporation (NYSE:ALB) had its price objective hoisted by equities researchers at Oppenheimer Holdings, Inc. from $133.00 to $157.00 in a research note issued on Monday. The brokerage currently has an “outperform” rating on the specialty chemicals company’s stock. Oppenheimer Holdings, Inc.’s price objective indicates a potential upside of 12.62% from the company’s previous close. Oppenheimer Holdings also issued estimates for Albemarle Corporation’s FY2020 earnings at $6.12 EPS and FY2021 earnings at $6.88 EPS.

A number of other research analysts have also recently issued reports on the stock. Instinet reaffirmed a “buy” rating and issued a $154.00 price target (up previously from $146.00) on shares of Albemarle Corporation in a report on Friday, October 13th. Nomura raised their price target on shares of Albemarle Corporation from $146.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. Goldman Sachs Group, Inc. (The) cut shares of Albemarle Corporation from a “buy” rating to a “neutral” rating and raised their price target for the stock from $139.66 to $142.00 in a report on Friday, October 6th. Loop Capital started coverage on shares of Albemarle Corporation in a report on Thursday, September 28th. They issued a “buy” rating and a $150.00 price target for the company. Finally, Robert W. Baird cut shares of Albemarle Corporation from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $134.29 to $135.00 in a report on Monday, September 25th. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $122.95.

Albemarle Corporation (ALB) opened at 139.41 on Monday. Albemarle Corporation has a one year low of $76.32 and a one year high of $140.70. The stock has a market capitalization of $15.40 billion, a price-to-earnings ratio of 17.83 and a beta of 1.67. The company has a 50-day moving average of $128.91 and a 200-day moving average of $115.43.

Albemarle Corporation (NYSE:ALB) last posted its earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.02. Albemarle Corporation had a net margin of 31.49% and a return on equity of 11.59%. The company had revenue of $737.25 million during the quarter, compared to analysts’ expectations of $735.50 million. During the same quarter in the prior year, the company posted $0.93 earnings per share. Albemarle Corporation’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities analysts forecast that Albemarle Corporation will post $4.38 EPS for the current fiscal year.

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In related news, EVP Matthew Juneau sold 5,397 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $115.77, for a total transaction of $624,810.69. Following the sale, the executive vice president now owns 360 shares in the company, valued at $41,677.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Karen G. Narwold sold 11,500 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $115.95, for a total transaction of $1,333,425.00. Following the sale, the executive vice president now owns 36,620 shares in the company, valued at approximately $4,246,089. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Albemarle Corporation by 1.7% in the second quarter. Vanguard Group Inc. now owns 12,501,329 shares of the specialty chemicals company’s stock valued at $1,319,389,000 after purchasing an additional 213,530 shares during the period. BlackRock Inc. grew its position in shares of Albemarle Corporation by 2,805.3% in the first quarter. BlackRock Inc. now owns 8,310,717 shares of the specialty chemicals company’s stock valued at $877,947,000 after purchasing an additional 8,024,668 shares during the period. Jennison Associates LLC grew its position in shares of Albemarle Corporation by 12.0% in the second quarter. Jennison Associates LLC now owns 6,421,530 shares of the specialty chemicals company’s stock valued at $677,728,000 after purchasing an additional 689,054 shares during the period. State Street Corp grew its position in shares of Albemarle Corporation by 0.5% in the first quarter. State Street Corp now owns 6,356,839 shares of the specialty chemicals company’s stock valued at $671,675,000 after purchasing an additional 30,662 shares during the period. Finally, TIAA CREF Investment Management LLC grew its position in shares of Albemarle Corporation by 69.2% in the second quarter. TIAA CREF Investment Management LLC now owns 1,661,821 shares of the specialty chemicals company’s stock valued at $175,389,000 after purchasing an additional 679,453 shares during the period. Institutional investors own 83.67% 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)

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