Albemarle (NYSE:ALB) Earns Hold Rating from Analysts at Truist Financial

Research analysts at Truist Financial began coverage on shares of Albemarle (NYSE:ALB) in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage set a “hold” rating and a $96.00 price target on the specialty chemicals company’s stock. Truist Financial’s price target suggests a potential upside of 11.17% from the company’s previous close.

ALB has been the topic of a number of other research reports. Clarkson Capital started coverage on shares of Albemarle in a report on Tuesday, January 14th. They set a “buy” rating and a $112.00 price objective on the stock. Oppenheimer cut their price target on shares of Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. KeyCorp decreased their price objective on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Mizuho cut their target price on Albemarle from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company upped their target price on Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Albemarle has an average rating of “Hold” and a consensus target price of $113.95.

Albemarle Trading Up 0.5 %

NYSE:ALB opened at $86.35 on Tuesday. Albemarle has a 1 year low of $71.97 and a 1 year high of $143.19. The stock has a market cap of $10.15 billion, a P/E ratio of -5.16, a P/E/G ratio of 3.19 and a beta of 1.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.58 and a current ratio of 2.44. The stock has a 50-day simple moving average of $95.69 and a 200-day simple moving average of $93.44.

Insider Transactions at Albemarle

In related news, CEO J Kent Masters sold 2,525 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $101.12, for a total value of $255,328.00. Following the completion of the sale, the chief executive officer now owns 73,747 shares in the company, valued at $7,457,296.64. This trade represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Albemarle

A number of hedge funds and other institutional investors have recently modified their holdings of ALB. Primecap Management Co. CA increased its stake in Albemarle by 0.5% in the 3rd quarter. Primecap Management Co. CA now owns 3,833,984 shares of the specialty chemicals company’s stock valued at $363,117,000 after purchasing an additional 20,930 shares in the last quarter. Geode Capital Management LLC grew its holdings in Albemarle by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,741,906 shares of the specialty chemicals company’s stock valued at $258,797,000 after purchasing an additional 14,874 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Albemarle by 38.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,020,590 shares of the specialty chemicals company’s stock valued at $96,660,000 after buying an additional 282,194 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Albemarle during the 4th quarter worth $85,570,000. Finally, Empower Advisory Group LLC boosted its position in shares of Albemarle by 28.7% in the 3rd quarter. Empower Advisory Group LLC now owns 705,719 shares of the specialty chemicals company’s stock worth $66,839,000 after buying an additional 157,319 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Company Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.