Albemarle Corporation (NYSE:ALB) had its price target boosted by Oppenheimer Holdings, Inc. from $133.00 to $157.00 in a research report released on Monday. Oppenheimer Holdings, Inc. currently has an outperform rating on the specialty chemicals company’s stock. Oppenheimer Holdings also issued estimates for Albemarle Corporation’s FY2020 earnings at $6.12 EPS and FY2021 earnings at $6.88 EPS.

Other equities research analysts have also issued research reports about the stock. Royal Bank Of Canada reaffirmed a buy rating and issued a $136.00 price objective on shares of Albemarle Corporation in a research note on Friday, July 14th. Aegis reaffirmed a buy rating on shares of Albemarle Corporation in a research note on Friday, July 7th. Zacks Investment Research raised shares of Albemarle Corporation from a hold rating to a buy rating and set a $121.00 price objective for the company in a research note on Friday, July 7th. Needham & Company LLC reaffirmed a buy rating and issued a $36.00 price objective on shares of Albemarle Corporation in a research note on Thursday, June 29th. Finally, BidaskClub lowered shares of Albemarle Corporation from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Albemarle Corporation presently has an average rating of Buy and an average price target of $121.05.

Albemarle Corporation (NYSE:ALB) opened at 140.3329 on Monday. Albemarle Corporation has a 52-week low of $76.32 and a 52-week high of $140.70. The firm has a 50-day moving average price of $128.91 and a 200 day moving average price of $115.43. The stock has a market capitalization of $15.50 billion, a price-to-earnings ratio of 17.9477 and a beta of 1.66.

Albemarle Corporation (NYSE:ALB) last released its quarterly earnings data on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.02. Albemarle Corporation had a net margin of 31.49% and a return on equity of 11.59%. The business had revenue of $737.25 million during the quarter, compared to analyst estimates of $735.50 million. During the same quarter in the previous year, the business earned $0.93 EPS. Albemarle Corporation’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts predict that Albemarle Corporation will post $4.38 EPS for the current year.

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In other news, EVP Karen G. Narwold sold 11,500 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $115.95, for a total transaction of $1,333,425.00. Following the completion of the transaction, the executive vice president now owns 36,620 shares of the company’s stock, valued at $4,246,089. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Matthew Juneau sold 5,397 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $115.77, for a total transaction of $624,810.69. Following the transaction, the executive vice president now directly owns 360 shares of the company’s stock, valued at approximately $41,677.20. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Carroll Financial Associates Inc. raised its position in shares of Albemarle Corporation by 0.3% during the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock valued at $103,000 after buying an additional 3 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Albemarle Corporation by 0.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,458 shares of the specialty chemicals company’s stock valued at $154,000 after buying an additional 4 shares during the last quarter. Scotia Capital Inc. raised its position in shares of Albemarle Corporation by 0.5% during the second quarter. Scotia Capital Inc. now owns 2,022 shares of the specialty chemicals company’s stock valued at $213,000 after buying an additional 10 shares during the last quarter. Alps Advisors Inc. raised its position in shares of Albemarle Corporation by 0.3% during the second quarter. Alps Advisors Inc. now owns 4,606 shares of the specialty chemicals company’s stock valued at $486,000 after buying an additional 12 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Albemarle Corporation by 2.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock valued at $102,000 after buying an additional 20 shares during the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Albemarle Corporation Company Profile

Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.

Analyst Recommendations for Albemarle Corporation (NYSE:ALB)

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