Albemarle (NYSE:ALB) Rating Increased to Strong-Buy at Wall Street Zen

Albemarle (NYSE:ALB) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday.

Other equities analysts also recently issued research reports about the company. Zacks Research upgraded Albemarle from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. Argus upped their price objective on shares of Albemarle from $185.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, May 11th. UBS Group upped their price target on shares of Albemarle from $230.00 to $264.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Bank of America increased their price objective on Albemarle from $190.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Finally, Rothschild & Co Redburn lowered their target price on Albemarle from $188.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.58.

Albemarle Stock Up 0.0%

Shares of NYSE:ALB opened at $126.06 on Monday. The firm has a 50 day simple moving average of $163.81 and a 200 day simple moving average of $169.11. Albemarle has a 52 week low of $64.95 and a 52 week high of $221.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 2.07. The company has a market cap of $14.87 billion, a PE ratio of -36.97 and a beta of 1.34.

Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 EPS for the quarter, topping the consensus estimate of $1.24 by $1.71. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Albemarle had a positive return on equity of 5.22% and a negative net margin of 5.00%.Albemarle’s revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.18) earnings per share. As a group, research analysts expect that Albemarle will post 13.06 earnings per share for the current year.

Insiders Place Their Bets

In other Albemarle news, CEO J Kent Masters sold 16,393 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $183.72, for a total value of $3,011,721.96. Following the sale, the chief executive officer owned 87,519 shares of the company’s stock, valued at $16,078,990.68. The trade was a 15.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.42% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Albemarle

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strategic Advocates LLC acquired a new stake in shares of Albemarle during the third quarter worth approximately $25,000. MH & Associates Securities Management Corp ADV acquired a new stake in Albemarle during the 4th quarter valued at $26,000. BOKF NA raised its position in Albemarle by 5,771.4% in the 3rd quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 404 shares during the last quarter. Elyxium Wealth LLC acquired a new position in Albemarle in the fourth quarter worth $34,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Albemarle by 536.7% in the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 483 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

About Albemarle

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.