Royal Bank Of Canada reiterated their buy rating on shares of Albemarle Corporation (NYSE:ALB) in a research report released on Wednesday. Royal Bank Of Canada currently has a $149.00 price target on the specialty chemicals company’s stock.

A number of other brokerages also recently commented on ALB. Zacks Investment Research raised shares of Albemarle Corporation from a hold rating to a buy rating and set a $157.00 price target for the company in a report on Tuesday. Goldman Sachs Group, Inc. (The) downgraded shares of Albemarle Corporation from a buy rating to a neutral rating and increased their price target for the company from $139.66 to $142.00 in a report on Friday, October 6th. Instinet reaffirmed a buy rating and issued a $154.00 price target (up previously from $146.00) on shares of Albemarle Corporation in a report on Friday, October 13th. Oppenheimer Holdings, Inc. increased their price target on shares of Albemarle Corporation from $133.00 to $157.00 and gave the company an outperform rating in a report on Monday. Finally, KeyCorp increased their price target on shares of Albemarle Corporation from $125.00 to $150.00 and gave the company a buy rating in a report on Monday. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $123.63.

Albemarle Corporation (NYSE:ALB) traded down 0.12% during midday trading on Wednesday, reaching $139.49. The company had a trading volume of 798,724 shares. The firm has a 50-day moving average price of $130.64 and a 200-day moving average price of $116.10. The company has a market capitalization of $15.41 billion, a price-to-earnings ratio of 17.84 and a beta of 1.67. Albemarle Corporation has a 52 week low of $76.32 and a 52 week high of $140.10.

Albemarle Corporation (NYSE:ALB) last released its quarterly earnings data on Monday, August 7th. The specialty chemicals company reported $1.13 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 the consensus estimate of $735.50 million. During the same quarter in the prior year, the firm earned $0.93 EPS. The business’s revenue was up 10.1% on a year-over-year basis. Analysts expect that Albemarle Corporation will post $4.38 EPS for the current fiscal year.

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In other news, EVP Karen G. Narwold sold 11,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 36,620 shares of the company’s stock, valued at $4,246,089. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Matthew Juneau sold 5,397 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was 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 in the company, valued at $41,677.20. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.

Several large investors have recently modified their holdings of ALB. BlackRock Inc. increased its position in shares of Albemarle Corporation by 2,805.3% during the first quarter. BlackRock Inc. now owns 8,310,717 shares of the specialty chemicals company’s stock worth $877,947,000 after acquiring an additional 8,024,668 shares during the period. Janus Henderson Group PLC increased its position in shares of Albemarle Corporation by 907.7% during the second quarter. Janus Henderson Group PLC now owns 817,035 shares of the specialty chemicals company’s stock worth $86,230,000 after acquiring an additional 735,956 shares during the period. Artisan Partners Limited Partnership increased its position in shares of Albemarle Corporation by 6,185.5% during the second quarter. Artisan Partners Limited Partnership now owns 731,690 shares of the specialty chemicals company’s stock worth $77,223,000 after acquiring an additional 720,049 shares during the period. Jennison Associates LLC increased its position in shares of Albemarle Corporation by 12.0% during the second quarter. Jennison Associates LLC now owns 6,421,530 shares of the specialty chemicals company’s stock worth $677,728,000 after acquiring an additional 689,054 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in shares of Albemarle Corporation by 69.2% during the second quarter. TIAA CREF Investment Management LLC now owns 1,661,821 shares of the specialty chemicals company’s stock worth $175,389,000 after acquiring an additional 679,453 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

About Albemarle Corporation

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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