Albemarle (NYSE:ALB) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
Other analysts also recently issued reports about the company. CIBC assumed coverage on Albemarle in a research note on Thursday, August 17th. They issued an “outperform” rating and a $133.00 price objective for the company. Jefferies Group reissued a “buy” rating on shares of Albemarle in a research note on Tuesday, October 24th. SunTrust Banks lowered Albemarle 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. Royal Bank Of Canada upped their target price on Albemarle from $149.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Finally, Goldman Sachs Group lowered Albemarle from a “buy” rating to a “neutral” rating and upped their target price for the company from $139.66 to $142.00 in a report on Friday, October 6th. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Albemarle currently has an average rating of “Buy” and an average price target of $128.45.
Shares of Albemarle (ALB) traded down $2.17 during trading on Friday, hitting $132.15. The stock had a trading volume of 1,240,091 shares, compared to its average volume of 1,234,781. The stock has a market capitalization of $14,602.05, a P/E ratio of 32.71, a PEG ratio of 2.00 and a beta of 1.70. Albemarle has a 12-month low of $84.37 and a 12-month high of $144.99. The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 0.35.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its holdings in Albemarle 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 purchasing an additional 20 shares during the period. Thompson Davis & CO. Inc. grew its holdings in Albemarle by 650.0% during the third quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock valued at $102,000 after purchasing an additional 650 shares during the period. Smithfield Trust Co. grew its holdings in Albemarle 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 purchasing an additional 140 shares during the period. Highlander Capital Management LLC bought a new position in Albemarle during the second quarter valued at $106,000. Finally, Advisory Services Network LLC grew its holdings in Albemarle 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 purchasing an additional 387 shares during the period. 87.85% of the stock is owned by institutional investors and hedge funds.
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Albemarle 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.
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