Albemarle (NYSE:ALB) Releases Q4 2022 Earnings Guidance

Albemarle (NYSE:ALB – Get Rating) updated its fourth quarter 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $8.35-$8.75 for the period, compared to the consensus estimate of $7.66. The company issued revenue guidance of $2.59 billion-$2.65 billion, compared to the consensus revenue estimate of $2.61 billion. Albemarle also updated its FY 2022 guidance to $21.65-$22.05 EPS.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALB. UBS Group cut their price objective on Albemarle from $297.00 to $250.00 and set a neutral rating on the stock in a research note on Wednesday, January 11th. StockNews.com began coverage on Albemarle in a report on Wednesday, October 12th. They issued a hold rating for the company. Deutsche Bank Aktiengesellschaft lowered their target price on Albemarle from $325.00 to $290.00 in a report on Tuesday, January 10th. Morgan Stanley lifted their target price on Albemarle from $145.00 to $155.00 and gave the stock an underweight rating in a report on Monday, November 28th. Finally, Citigroup lowered their target price on Albemarle from $345.00 to $295.00 and set a buy rating for the company in a report on Thursday, December 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Albemarle currently has a consensus rating of Hold and a consensus price target of $287.47.

Albemarle Trading Up 4.9 %

Shares of Albemarle stock opened at $260.64 on Tuesday. The stock has a fifty day simple moving average of $248.89 and a 200 day simple moving average of $258.97. The company has a current ratio of 1.73, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. Albemarle has a 12-month low of $169.93 and a 12-month high of $334.55. The company has a market capitalization of $30.53 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 0.57 and a beta of 1.45.

Albemarle (NYSE:ALB – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The specialty chemicals company reported $7.50 earnings per share for the quarter, topping the consensus estimate of $6.84 by $0.66. Albemarle had a return on equity of 26.84% and a net margin of 27.77%. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The business’s revenue was up 151.9% on a year-over-year basis. On average, sell-side analysts anticipate that Albemarle will post 20.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Albemarle news, insider Eric Norris sold 2,390 shares of the business’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $307.80, for a total value of $735,642.00. Following the transaction, the insider now owns 15,564 shares of the company’s stock, valued at $4,790,599.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Eric Norris sold 2,390 shares of the company’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $307.80, for a total transaction of $735,642.00. Following the transaction, the insider now owns 15,564 shares of the company’s stock, valued at approximately $4,790,599.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott Tozier sold 1,719 shares of the company’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $220.00, for a total value of $378,180.00. Following the transaction, the chief financial officer now directly owns 63,384 shares in the company, valued at approximately $13,944,480. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,681 shares of company stock valued at $5,310,662. Insiders own 0.25% of the company’s stock.

Institutional Trading of Albemarle

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Covestor Ltd raised its stake in shares of Albemarle by 51.2% during the 1st quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 44 shares during the period. Global Wealth Management Investment Advisory Inc. raised its stake in shares of Albemarle by 49.2% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 267 shares of the specialty chemicals company’s stock valued at $59,000 after purchasing an additional 88 shares during the period. Stonebridge Capital Advisors LLC bought a new stake in shares of Albemarle during the 1st quarter valued at $95,000. Centaurus Financial Inc. bought a new stake in shares of Albemarle during the 1st quarter valued at $117,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Albemarle by 9.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 792 shares of the specialty chemicals company’s stock valued at $175,000 after purchasing an additional 66 shares during the period. 82.24% of the stock is currently owned by institutional investors.

Albemarle Company Profile

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Albemarle Corp. engages in the development, manufacture, and marketing of chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, transportation, pharmaceuticals, crop production, food-safety, and custom chemistry services. It operates through the following segments: Lithium, Bromine, Catalysts, and All Other.