Truist Financial Begins Coverage on Albemarle (NYSE:ALB)

Equities research analysts at Truist Financial initiated coverage on shares of Albemarle (NYSE:ALB) in a report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a “hold” rating and a $96.00 price target on the specialty chemicals company’s stock. Truist Financial’s target price would indicate a potential upside of 8.24% from the stock’s current price.

A number of other research analysts have also recently weighed in on ALB. Wells Fargo & Company lifted their price target on shares of Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada upped their price target on shares of Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Clarkson Capital began coverage on Albemarle in a research report on Tuesday, January 14th. They issued a “buy” rating and a $112.00 target price for the company. Oppenheimer dropped their target price on Albemarle from $171.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, KeyCorp lowered their price objective on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Albemarle presently has a consensus rating of “Hold” and an average target price of $114.71.

Albemarle Price Performance

Albemarle stock opened at $88.69 on Tuesday. 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 company has a market cap of $10.42 billion, a price-to-earnings ratio of -5.29, a PEG ratio of 3.19 and a beta of 1.58. Albemarle has a 1 year low of $71.97 and a 1 year high of $143.19. The firm has a 50 day moving average price of $96.56 and a 200 day moving average price of $93.58.

Insiders Place Their Bets

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $101.12, for a total transaction of $255,328.00. Following the sale, the chief executive officer now owns 73,747 shares in the company, valued at approximately $7,457,296.64. The trade was a 3.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.38% of the stock is owned by insiders.

Institutional Investors Weigh In On Albemarle

Several institutional investors have recently made changes to their positions in ALB. Manning & Napier Advisors LLC bought a new position in Albemarle in the 4th quarter worth approximately $85,570,000. Pathway Financial Advisers LLC increased its holdings in shares of Albemarle by 9,108.7% during the third quarter. Pathway Financial Advisers LLC now owns 574,805 shares of the specialty chemicals company’s stock worth $54,440,000 after buying an additional 568,563 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Albemarle by 38.2% during 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 purchasing an additional 282,194 shares during the last quarter. FMR LLC raised its position in Albemarle by 67.3% in the 3rd quarter. FMR LLC now owns 658,145 shares of the specialty chemicals company’s stock worth $62,333,000 after purchasing an additional 264,756 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in Albemarle by 7,667.4% in the third quarter. International Assets Investment Management LLC now owns 163,659 shares of the specialty chemicals company’s stock worth $155,000,000 after purchasing an additional 161,552 shares during the period. 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.