Albemarle (NYSE:ALB) Receives New Coverage from Analysts at Piper Sandler

Stock analysts at Piper Sandler started coverage on shares of Albemarle (NYSE:ALBGet Rating) in a report issued on Wednesday, The Fly reports. The brokerage set an “overweight” rating on the specialty chemicals company’s stock.

A number of other research analysts also recently issued reports on ALB. Royal Bank of Canada boosted their price target on shares of Albemarle from $340.00 to $362.00 in a research report on Wednesday. Mizuho cut their price target on shares of Albemarle from $325.00 to $300.00 and set a “neutral” rating on the stock in a research report on Thursday, January 12th. Robert W. Baird increased their price target on Albemarle from $298.00 to $305.00 in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price objective on Albemarle from $290.00 to $305.00 in a research note on Wednesday. Finally, Credit Suisse Group lifted their target price on Albemarle from $196.00 to $200.00 and gave the stock an “underperform” rating in a report on Thursday, November 3rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $294.37.

Albemarle Trading Up 2.4 %

Shares of NYSE:ALB traded up $6.39 during mid-day trading on Wednesday, reaching $270.98. 1,255,839 shares of the company’s stock were exchanged, compared to its average volume of 1,528,772. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.73. Albemarle has a twelve month low of $169.93 and a twelve month high of $334.55. The firm has a market capitalization of $31.75 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 0.60 and a beta of 1.45. The business’s fifty day moving average price is $248.26 and its 200-day moving average price is $259.38.

Albemarle (NYSE:ALBGet Rating) last announced its earnings results on Wednesday, November 2nd. The specialty chemicals company reported $7.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.84 by $0.66. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.21 billion. Albemarle had a return on equity of 26.84% and a net margin of 27.77%. Albemarle’s revenue for the quarter was up 151.9% compared to the same quarter last year. During the same period last year, the company earned $1.05 EPS. On average, research analysts predict that Albemarle will post 20.95 EPS for the current fiscal year.

Insider Transactions at Albemarle

In other Albemarle news, CFO Scott Tozier sold 1,719 shares of the firm’s stock in a transaction on Friday, January 6th. The stock was sold at an average price of $220.00, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Albemarle news, CFO Scott Tozier sold 1,719 shares of the stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $220.00, for a total value of $378,180.00. Following the completion of the sale, the chief financial officer now owns 63,384 shares in the company, valued at approximately $13,944,480. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Karen G. Narwold sold 2,250 shares of Albemarle stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $285.66, for a total transaction of $642,735.00. Following the transaction, the executive vice president now directly owns 11,444 shares in the company, valued at approximately $3,269,093.04. The disclosure for this sale can be found here. Insiders sold a total of 17,681 shares of company stock valued at $5,310,662 over the last ninety days. 0.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Albemarle

Several institutional investors have recently added to or reduced their stakes in ALB. SJS Investment Consulting Inc. purchased a new stake in Albemarle in the 3rd quarter worth about $28,000. Covestor Ltd increased its stake in shares of Albemarle by 51.2% in the first quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 44 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Albemarle in the third quarter valued at approximately $37,000. Trustcore Financial Services LLC raised its position in shares of Albemarle by 49.0% in the third quarter. Trustcore Financial Services LLC now owns 149 shares of the specialty chemicals company’s stock valued at $39,000 after purchasing an additional 49 shares during the period. Finally, Tompkins Financial Corp lifted its stake in shares of Albemarle by 50.0% during the 4th quarter. Tompkins Financial Corp now owns 150 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 50 shares in the last quarter. Institutional investors own 82.24% of the company’s stock.

Albemarle Company Profile

(Get Rating)

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.

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Analyst Recommendations for Albemarle (NYSE:ALB)

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