Analysts at Oppenheimer Holdings, Inc. initiated coverage on shares of Albemarle Corporation (NYSE:ALB) in a note issued to investors on Wednesday. The firm set an “outperform” rating and a $133.00 price target on the specialty chemicals company’s stock. Oppenheimer Holdings, Inc.’s price target would indicate a potential upside of 17.26% from the stock’s previous close.

A number of other analysts have also recently weighed in on ALB. SunTrust Banks, Inc. cut shares of Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 target price for the company. in a report on Wednesday, August 9th. Vertical Research reaffirmed a “hold” rating and issued a $109.00 price objective (up previously from $108.00) on shares of Albemarle Corporation in a research note on Thursday, August 10th. BidaskClub lowered shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Zacks Investment Research lowered shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a research note on Monday, April 24th. Finally, Aegis reaffirmed a “buy” rating on shares of Albemarle Corporation in a research note on Friday, July 7th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $108.24.

Shares of Albemarle Corporation (NYSE:ALB) traded up 1.38% during midday trading on Wednesday, hitting $113.42. The stock had a trading volume of 1,288,992 shares. Albemarle Corporation has a one year low of $75.11 and a one year high of $123.48. The company has a market cap of $12.53 billion, a P/E ratio of 14.51 and a beta of 1.59. The firm has a 50 day moving average of $114.34 and a 200-day moving average of $107.20.

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

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In other Albemarle Corporation news, Director Douglas L. Maine sold 10,000 shares of Albemarle Corporation stock in a transaction on Monday, June 19th. The shares were sold at an average price of $107.94, for a total transaction of $1,079,400.00. Following the completion of the sale, the director now owns 24,150 shares of the company’s stock, valued at approximately $2,606,751. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott Tozier sold 25,000 shares of Albemarle Corporation stock in a transaction on Friday, July 7th. The shares were sold at an average price of $110.13, for a total transaction of $2,753,250.00. Following the sale, the chief financial officer now directly owns 57,506 shares of the company’s stock, valued at approximately $6,333,135.78. The disclosure for this sale can be found here. Insiders have sold a total of 105,000 shares of company stock valued at $11,499,850 in the last three months. Company insiders own 0.74% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its stake in shares of Albemarle Corporation by 2.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock worth $102,000 after buying an additional 20 shares during the period. Carroll Financial Associates Inc. raised its stake in shares of Albemarle Corporation by 0.3% in the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 3 shares during the period. Smithfield Trust Co. raised its stake in shares of Albemarle Corporation by 16.1% in the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock worth $106,000 after buying an additional 140 shares during the period. Highlander Capital Management LLC bought a new stake in shares of Albemarle Corporation during the second quarter worth about $106,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Albemarle Corporation by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,454 shares of the specialty chemicals company’s stock worth $154,000 after buying an additional 5 shares during the period. 86.22% of the stock is owned by institutional investors.

About Albemarle Corporation

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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