Truist Financial Begins Coverage on Albemarle (NYSE:ALB)

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

Other equities research analysts have also recently issued reports about the stock. Clarkson Capital initiated coverage on shares of Albemarle in a report on Tuesday, January 14th. They issued a “buy” rating and a $112.00 target price on the stock. Mizuho cut their price objective on Albemarle from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. 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. Wells Fargo & Company upped their price target on shares of Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada upped their target price on Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $114.71.

Albemarle Stock Down 3.0 %

ALB stock opened at $86.09 on Tuesday. The company has a market cap of $10.12 billion, a price-to-earnings ratio of -5.14, a P/E/G ratio of 3.19 and a beta of 1.58. Albemarle has a twelve month low of $71.97 and a twelve month high of $143.19. The business has a 50 day moving average price of $96.16 and a two-hundred day moving average price of $93.49. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43.

Insider Buying and Selling at Albemarle

In related news, CEO J Kent Masters sold 2,525 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $101.12, for a total transaction of $255,328.00. Following the completion of the sale, the chief executive officer now directly owns 73,747 shares in the company, valued at $7,457,296.64. This represents a 3.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Quarry LP increased its position in Albemarle by 1,400.0% during the 3rd quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 252 shares in the last quarter. Trust Co. of Vermont increased its holdings 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 buying an additional 279 shares in the last quarter. Eastern Bank bought a new position in shares of Albemarle in the 3rd quarter valued at $31,000. First Community Trust NA boosted its holdings in shares of Albemarle by 55.0% during the 4th quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 142 shares in the last quarter. Finally, Ameliora Wealth Management Ltd. bought a new stake in Albemarle during the 4th quarter worth $35,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

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.