Wall Street Zen Downgrades Albemarle (NYSE:ALB) to Buy

Albemarle (NYSE:ALB - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Saturday.

ALB has been the topic of a number of other research reports. Truist Financial dropped their target price on shares of Albemarle from $260.00 to $245.00 and set a "buy" rating on the stock in a report on Monday, July 20th. Zacks Research cut shares of Albemarle from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 20th. HSBC boosted their price objective on shares of Albemarle from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Jefferies Financial Group cut their price objective on shares of Albemarle from $244.00 to $211.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Finally, Argus raised their target price 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. Fifteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $199.22.

Albemarle Stock Down 0.3%

ALB stock opened at $117.46 on Friday. Albemarle has a fifty-two week low of $64.95 and a fifty-two week high of $221.00. The business's 50 day moving average price is $142.86 and its two-hundred day moving average price is $165.79. 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 capitalization of $13.85 billion, a price-to-earnings ratio of -34.45 and a beta of 1.34.

Albemarle (NYSE:ALB - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share for the quarter, topping the consensus estimate of $1.24 by $1.71. The company had revenue of $1.43 billion for 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%.The firm's revenue for the quarter was up 32.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.18) earnings per share. As a group, analysts forecast that Albemarle will post 12.79 earnings per share for the current fiscal year.

Insider Transactions at Albemarle

In related news, CEO J Kent Masters sold 16,393 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $183.72, for a total transaction of $3,011,721.96. Following the sale, the chief executive officer directly owned 87,519 shares of the company's stock, valued at approximately $16,078,990.68. This represents a 15.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALB. Evexia Wealth LLC raised its stake in Albemarle by 2.3% in the 1st quarter. Evexia Wealth LLC now owns 2,088 shares of the specialty chemicals company's stock valued at $387,000 after purchasing an additional 47 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Albemarle by 2.5% during the 4th quarter. Parallel Advisors LLC now owns 2,468 shares of the specialty chemicals company's stock worth $349,000 after purchasing an additional 60 shares during the last quarter. Eaton Financial Holdings Company LLC grew its holdings in shares of Albemarle by 1.2% during the fourth quarter. Eaton Financial Holdings Company LLC now owns 5,769 shares of the specialty chemicals company's stock worth $816,000 after buying an additional 66 shares in the last quarter. Sigma Planning Corp grew its holdings in shares of Albemarle by 2.3% during the first quarter. Sigma Planning Corp now owns 2,952 shares of the specialty chemicals company's stock worth $530,000 after buying an additional 66 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC raised its position in shares of Albemarle by 1.9% in the fourth quarter. Signature Estate & Investment Advisors LLC now owns 3,592 shares of the specialty chemicals company's stock valued at $508,000 after buying an additional 67 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

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.

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