Albemarle (NYSE:ALB) Cut to Inline at Evercore ISI

Evercore ISI cut shares of Albemarle (NYSE:ALB) from an outperform rating to an inline rating in a report released on Wednesday morning, Marketbeat Ratings reports.

Several other research analysts have also recently commented on ALB. Wells Fargo & Company boosted their target price on Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Clarkson Capital initiated coverage on shares of Albemarle in a research note on Tuesday, January 14th. They set a “buy” rating and a $112.00 target price on the stock. Royal Bank of Canada lifted their price target on shares of Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Mizuho dropped their price objective on shares of Albemarle from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, KeyCorp decreased their price objective on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. One 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. Based on data from MarketBeat.com, Albemarle has an average rating of “Hold” and a consensus price target of $113.95.

Albemarle Stock Performance

Shares of ALB stock opened at $79.98 on Wednesday. The firm has a 50 day moving average of $93.10 and a two-hundred day moving average of $93.01. The stock has a market capitalization of $9.40 billion, a PE ratio of -4.77, a P/E/G ratio of 3.65 and a beta of 1.59. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. Albemarle has a 52 week low of $71.97 and a 52 week high of $143.19.

Insider Activity

In related news, CEO J Kent Masters sold 2,525 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $101.12, for a total value of $255,328.00. Following the transaction, the chief executive officer now owns 73,747 shares in the company, valued at $7,457,296.64. The trade was a 3.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ALB. Quarry LP lifted its holdings 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 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 worth $28,000 after acquiring an additional 279 shares during the period. Eastern Bank acquired a new position in shares of Albemarle during the third quarter worth about $31,000. First Community Trust NA raised its holdings in Albemarle by 55.0% during 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 in the last quarter. Finally, Ameliora Wealth Management Ltd. acquired a new stake in Albemarle in the fourth quarter valued at about $35,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

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.