Insider Selling: Scott Tozier Sells 1,339 Shares of Albemarle Corp. Stock (ALB)
Albemarle Corp. (NYSE:ALB) CFO Scott Tozier sold 1,339 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $64.35, for a total value of $86,164.65. Following the transaction, the chief financial officer now directly owns 31,403 shares in the company, valued at approximately $2,020,783. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Albemarle Corp. (NYSE:ALB) traded up 1.48% during mid-day trading on Thursday, hitting $65.83. 1,037,277 shares of the company’s stock traded hands. Albemarle Corp. has a 1-year low of $56.64 and a 1-year high of $70.00. The stock has a 50-day moving average of $66.28 and a 200-day moving average of $64.54. The company has a market cap of $5.358 billion and a price-to-earnings ratio of 18.93.
Albemarle Corp. (NYSE:ALB) last announced its earnings results on Thursday, October 17th. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.08 by $0.01. The company had revenue of $648.80 million for the quarter, compared to the consensus estimate of $655.97 million. During the same quarter in the prior year, the company posted $1.10 earnings per share. The company’s quarterly revenue was down 1.9% on a year-over-year basis. Analysts expect that Albemarle Corp. will post $4.07 EPS for the current fiscal year.
A number of research firms have recently commented on ALB. Analysts at Merrill Lynch upgraded shares of Albemarle Corp. to a “buy” rating in a research note to investors on Thursday. Separately, analysts at Robert W. Baird upgraded shares of Albemarle Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Thursday. They now have a $71.00 price target on the stock, up previously from $57.00. Finally, analysts at Bank of America Corp. upgraded shares of Albemarle Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Thursday. They now have a $71.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. Albemarle Corp. currently has a consensus rating of “Hold” and a consensus price target of $80.09.
Albemarle Corporation (NYSE:ALB) is a developer, manufacturer and marketer of specialty chemicals, which meet customer needs across a range of end markets, including the petroleum refining, consumer electronics, plastics/packaging, construction, automotive, lubricants, pharmaceuticals, crop protection, food-safety and custom chemistry services markets.
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