Analysts at CIBC assumed coverage on shares of Albemarle Corporation (NYSE:ALB) in a research note issued to investors on Thursday. The firm set an “outperform” rating and a $133.00 price target on the specialty chemicals company’s stock. CIBC’s target price points to a potential upside of 17.26% from the company’s previous close.

Several other equities research analysts also recently weighed in on ALB. SunTrust Banks, Inc. downgraded shares of 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, August 9th. Vertical Research reissued a “hold” rating and issued a $109.00 price objective (up from $108.00) on shares of Albemarle Corporation in a research report on Thursday, August 10th. BidaskClub downgraded shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a research report on Monday, April 24th. Finally, Aegis restated a “buy” rating on shares of Albemarle Corporation in a report on Friday, July 7th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $109.61.

Albemarle Corporation (ALB) traded down 0.05% on Thursday, hitting $113.36. 208,928 shares of the company’s stock traded hands. The stock has a market cap of $12.52 billion, a PE ratio of 14.50 and a beta of 1.59. The stock has a 50-day moving average of $114.34 and a 200-day moving average of $107.20. Albemarle Corporation has a one year low of $75.11 and a one year high of $123.48.

Albemarle Corporation (NYSE:ALB) last announced its earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share for the quarter, topping the 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 firm had revenue of $737.25 million for the quarter, compared to the consensus estimate of $735.50 million. During the same period in the prior year, the firm earned $0.93 EPS. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts forecast that Albemarle Corporation will post $4.36 earnings per share for the current fiscal year.

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In other news, CFO Scott Tozier sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $110.13, for a total transaction of $2,753,250.00. Following the completion of the transaction, the chief financial officer now directly owns 57,506 shares in the company, valued at $6,333,135.78. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Karen G. Narwold sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $108.16, for a total value of $2,163,200.00. Following the transaction, the executive vice president now owns 45,120 shares of the company’s stock, valued at $4,880,179.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 105,000 shares of company stock valued at $11,499,850. Corporate insiders own 0.74% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of ALB. Northwestern Mutual Wealth Management Co. raised its position 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 last quarter. Carroll Financial Associates Inc. raised its position in Albemarle Corporation by 0.3% in the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock valued at $103,000 after buying an additional 3 shares in the last quarter. Smithfield Trust Co. raised its position in Albemarle Corporation by 16.1% in the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock valued at $106,000 after buying an additional 140 shares in the last quarter. Highlander Capital Management LLC bought a new position in Albemarle Corporation during the second quarter valued at about $106,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in 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 valued at $154,000 after buying an additional 5 shares in the last quarter. Institutional investors own 86.22% of the company’s stock.

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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