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

Truist Financial initiated coverage on shares of Albemarle (NYSE:ALB - Free Report) in a research report released on Tuesday morning, MarketBeat Ratings reports. The brokerage issued a hold rating and a $96.00 price target on the specialty chemicals company's stock.

Several other research firms have also issued reports on ALB. Wells Fargo & Company upped their price target on Albemarle from $100.00 to $110.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 8th. Clarkson Capital initiated coverage on shares of Albemarle in a research report on Tuesday, January 14th. They issued a "buy" rating and a $112.00 price target on the stock. Robert W. Baird boosted their price objective on shares of Albemarle from $79.00 to $103.00 and gave the company a "neutral" rating in a research report on Wednesday, December 18th. KeyCorp decreased their target price on Albemarle from $132.00 to $127.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. Finally, Oppenheimer dropped their price target on Albemarle from $171.00 to $170.00 and set an "outperform" rating on the stock in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Albemarle presently has a consensus rating of "Hold" and a consensus target price of $114.71.

Albemarle Trading Up 0.5 %

ALB stock traded up $0.45 during midday trading on Tuesday, reaching $86.35. 1,678,502 shares of the company's stock traded hands, compared to its average volume of 2,164,910. Albemarle has a fifty-two week low of $71.97 and a fifty-two week high of $143.19. The business has a 50-day moving average price of $95.69 and a two-hundred day moving average price of $93.44. The company has a market capitalization of $10.15 billion, a P/E ratio of -5.16, a PEG ratio of 3.19 and a beta of 1.58. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.58.

Insiders Place Their Bets

In other Albemarle news, CEO J Kent Masters sold 2,525 shares of the business's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $101.12, for a total value of $255,328.00. Following the sale, the chief executive officer now owns 73,747 shares of the company's stock, valued at $7,457,296.64. The trade was a 3.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.38% of the company's stock.

Institutional Investors Weigh In On Albemarle

Large investors have recently modified their holdings of the stock. Quarry LP raised its stake in shares of Albemarle by 1,400.0% in the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company's stock valued at $26,000 after acquiring an additional 252 shares during the last quarter. Trust Co. of Vermont raised its position in 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 last quarter. Eastern Bank acquired a new position in Albemarle in the third quarter worth $31,000. Cromwell Holdings LLC grew its holdings in shares of Albemarle by 61.9% during the third quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company's stock worth $37,000 after purchasing an additional 148 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its position in Albemarle by 50.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company's stock worth $37,000 after buying an additional 132 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

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.