Albemarle (NYSE:ALB) Hits New 52-Week High – Time to Buy?

Albemarle Corporation (NYSE:ALB) shares reached a new 52-week high on Tuesday . The stock traded as high as $192.46 and last traded at $189.8590, with a volume of 3001353 shares trading hands. The stock had previously closed at $189.51.

Wall Street Analyst Weigh In

Several brokerages have commented on ALB. Weiss Ratings reiterated a “sell (d+)” rating on shares of Albemarle in a research note on Monday, December 29th. Rothschild & Co Redburn boosted their target price on Albemarle from $135.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. UBS Group increased their price target on Albemarle from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Evercore ISI raised their price target on Albemarle from $88.00 to $100.00 and gave the company an “in-line” rating in a report on Tuesday, November 11th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Albemarle in a research note on Thursday, October 9th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Albemarle presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.04.

Albemarle Stock Up 0.2%

The company has a quick ratio of 1.51, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The company has a 50 day simple moving average of $145.06 and a two-hundred day simple moving average of $106.30. The company has a market capitalization of $22.35 billion, a P/E ratio of -119.41, a PEG ratio of 4.14 and a beta of 1.41.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, November 5th. The specialty chemicals company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.73. Albemarle had a positive return on equity of 0.10% and a negative net margin of 0.43%.The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the business earned ($1.55) EPS. The company’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, equities analysts predict that Albemarle Corporation will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Albemarle

Several institutional investors have recently made changes to their positions in the company. Hantz Financial Services Inc. grew its holdings in Albemarle by 10,050.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 402 shares during the last quarter. Strategic Advocates LLC purchased a new position in shares of Albemarle during the third quarter valued at approximately $25,000. MH & Associates Securities Management Corp ADV purchased a new position in shares of Albemarle during the fourth quarter valued at approximately $26,000. CVA Family Office LLC grew its stake in shares of Albemarle by 7,257.1% during the second quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 508 shares during the last quarter. Finally, BOKF NA raised its holdings in shares of Albemarle by 5,771.4% in the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 404 shares during the period. Institutional investors own 92.87% of the company’s stock.

Albemarle Company Profile

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.