BMO Capital Markets assumed coverage on shares of Albemarle Corporation (NYSE:ALB) in a research note issued to investors on Tuesday, The Fly reports. The brokerage set an “outperform” rating on the specialty chemicals company’s stock.

Several other analysts have also commented on the stock. BidaskClub lowered shares of Albemarle Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Loop Capital began coverage on shares of Albemarle Corporation in a report on Thursday, September 28th. They issued a “buy” rating and a $150.00 price objective for the company. Robert W. Baird restated an “outperform” rating and issued a $135.00 price objective (up from $125.00) on shares of Albemarle Corporation in a report on Tuesday, July 18th. They noted that the move was a valuation call. Royal Bank Of Canada restated a “buy” rating and issued a $149.00 price objective on shares of Albemarle Corporation in a report on Wednesday, October 18th. Finally, KeyCorp restated a “buy” rating and issued a $125.00 price objective on shares of Albemarle Corporation in a report on Sunday, September 3rd. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $123.63.

Albemarle Corporation (NYSE ALB) traded up 0.14% during trading on Tuesday, reaching $138.72. The company’s stock had a trading volume of 1,330,252 shares. The stock has a market cap of $15.32 billion, a P/E ratio of 17.74 and a beta of 1.66. Albemarle Corporation has a 1-year low of $76.32 and a 1-year high of $141.40. The company’s 50 day moving average price is $132.60 and its 200-day moving average price is $116.92.

Albemarle Corporation (NYSE:ALB) last posted 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 company had revenue of $737.25 million during the quarter, compared to analyst estimates of $735.50 million. Albemarle Corporation had a net margin of 31.49% and a return on equity of 11.59%. Albemarle Corporation’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.93 earnings per share. Equities analysts forecast that Albemarle Corporation will post $4.38 earnings per share for the current fiscal year.

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In other news, EVP Matthew Juneau sold 5,397 shares of Albemarle Corporation stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 360 shares in the company, valued at $41,677.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Karen G. Narwold sold 11,500 shares of Albemarle Corporation stock in a transaction that occurred 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 transaction, the executive vice president now owns 36,620 shares of the company’s stock, valued at $4,246,089. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in ALB. Northwestern Mutual Wealth Management Co. increased its position in shares of Albemarle Corporation by 2.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock valued at $102,000 after acquiring an additional 20 shares in the last quarter. Carroll Financial Associates Inc. increased its position in shares of Albemarle Corporation by 0.3% during the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock valued at $103,000 after acquiring an additional 3 shares in the last quarter. Smithfield Trust Co. increased its position in shares of Albemarle Corporation by 16.1% during the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock valued at $106,000 after acquiring an additional 140 shares in the last quarter. Highlander Capital Management LLC bought a new stake in shares of Albemarle Corporation during the second quarter valued at approximately $106,000. Finally, Advisory Services Network LLC increased its position in shares of Albemarle Corporation by 43.7% during the second quarter. Advisory Services Network LLC now owns 1,273 shares of the specialty chemicals company’s stock valued at $134,000 after acquiring an additional 387 shares in the last quarter. Hedge funds and other institutional investors own 83.70% 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.

The Fly

Analyst Recommendations for Albemarle Corporation (NYSE:ALB)

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