Truist Financial Begins Coverage on Albemarle (NYSE:ALB)

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

ALB has been the topic of a number of other research reports. Clarkson Capital assumed coverage on Albemarle in a report on Tuesday, January 14th. They issued a "buy" rating and a $112.00 target price on the stock. Mizuho lowered their target price on Albemarle from $110.00 to $105.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada lifted their price objective on Albemarle from $108.00 to $133.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th. Robert W. Baird lifted their price objective on Albemarle from $79.00 to $103.00 and gave the stock a "neutral" rating in a report on Wednesday, December 18th. Finally, Oppenheimer decreased their price objective on Albemarle from $171.00 to $170.00 and set an "outperform" rating on the stock in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $114.71.

Albemarle Stock Down 3.2 %

Shares of NYSE ALB traded down $2.80 during mid-day trading on Tuesday, reaching $85.98. 1,222,902 shares of the company traded hands, compared to its average volume of 2,152,334. 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 stock has a market cap of $10.11 billion, a PE ratio of -5.13, a price-to-earnings-growth ratio of 3.19 and a beta of 1.58. The company's fifty day moving average is $96.56 and its two-hundred day moving average is $93.58. Albemarle has a fifty-two week low of $71.97 and a fifty-two week high of $143.19.

Insider Activity

In other news, CEO J Kent Masters sold 2,525 shares of Albemarle stock in a transaction 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 directly owns 73,747 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.38% of the company's stock.

Institutional Investors Weigh In On Albemarle

Institutional investors have recently made changes to their positions in the stock. Quarry LP grew its stake in shares of Albemarle by 1,400.0% during the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company's stock worth $26,000 after purchasing an additional 252 shares during the period. Trust Co. of Vermont grew its stake in shares of Albemarle by 606.5% during the fourth quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company's stock worth $28,000 after purchasing an additional 279 shares during the period. Eastern Bank acquired a new stake in shares of Albemarle during the third quarter worth $31,000. Cromwell Holdings LLC grew its stake 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 period. Finally, TD Private Client Wealth LLC grew its stake in shares of Albemarle by 50.4% during the third quarter. TD Private Client Wealth LLC now owns 394 shares of the specialty chemicals company's stock worth $37,000 after purchasing an additional 132 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

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.