Albemarle (NYSE:ALB) Coverage Initiated at Clarkson Capital

Equities research analysts at Clarkson Capital assumed coverage on shares of Albemarle (NYSE:ALB) in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $112.00 price target on the specialty chemicals company’s stock. Clarkson Capital’s target price points to a potential upside of 17.43% from the stock’s current price.

A number of other research firms have also commented on ALB. Oppenheimer cut their price target on Albemarle from $171.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, November 8th. KeyCorp reduced their target price on Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Mizuho cut their price objective on shares of Albemarle from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Wells Fargo & Company raised their price target on shares of Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Finally, 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 report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $115.65.

Albemarle Price Performance

Shares of NYSE:ALB opened at $95.38 on Tuesday. The firm has a market capitalization of $11.21 billion, a PE ratio of -5.69 and a beta of 1.58. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $98.41 and a two-hundred day moving average price of $93.87. Albemarle has a twelve month low of $71.97 and a twelve month high of $143.19.

Insider Activity

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was 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 approximately $7,457,296.64. This trade represents a 3.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.38% of the company’s stock.

Institutional Trading of Albemarle

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP boosted its stake in shares of Albemarle by 1,400.0% during the 3rd quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 252 shares in the last quarter. Trust Co. of Vermont lifted its stake in shares of Albemarle by 606.5% in the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 279 shares during the period. Eastern Bank bought a new stake in shares of Albemarle during the third quarter valued at approximately $31,000. First Community Trust NA grew its stake in Albemarle by 55.0% in the fourth quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 142 shares during the period. Finally, Cromwell Holdings LLC lifted its position in Albemarle by 61.9% during the third quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 148 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

About Albemarle

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.