Albemarle (NYSE:ALB) Issues Quarterly Earnings Results

Albemarle (NYSE:ALB) issued its earnings results on Wednesday. The specialty chemicals company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.49), Zacks reports. Albemarle had a positive return on equity of 1.67% and a negative net margin of 28.80%.

Albemarle Trading Up 1.1 %

Shares of ALB stock traded up $0.87 during trading hours on Wednesday, reaching $76.57. The company’s stock had a trading volume of 3,391,514 shares, compared to its average volume of 2,373,626. The stock has a market capitalization of $9.00 billion, a P/E ratio of -4.57, a P/E/G ratio of 3.43 and a beta of 1.59. Albemarle has a one year low of $71.97 and a one year high of $143.19. The firm’s fifty day simple moving average is $90.52 and its 200 day simple moving average is $92.59. The company has a current ratio of 2.44, a quick ratio of 1.58 and a debt-to-equity ratio of 0.43.

Wall Street Analysts Forecast Growth

ALB has been the topic of several recent analyst reports. Citigroup lowered their price target on Albemarle from $115.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday. Mizuho lowered their price target on Albemarle from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Truist Financial initiated coverage on Albemarle in a report on Tuesday, January 28th. They issued a “hold” rating and a $96.00 price target on the stock. Clarkson Capital initiated coverage on Albemarle in a report on Tuesday, January 14th. They issued a “buy” rating and a $112.00 price target on the stock. Finally, Royal Bank of Canada raised their price target on Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $113.20.

Insider Transactions at Albemarle

In related news, CEO J Kent Masters sold 2,525 shares of Albemarle stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 73,747 shares in the company, valued at $7,457,296.64. The trade was a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.38% 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.