Today’s Price Action: Does Albemarle Corporation Have Any Gas After Today’s Big Decline?

Today's Price Action: Does Albemarle Corporation Have Any Gas After Today's Big Decline?

The stock of Albemarle Corporation (NYSE:ALB) is a huge mover today! The stock decreased 4.09% or $3.53 during the last trading session, hitting $82.75. About 1.82M shares traded hands or 123.80% up from the average. Albemarle Corporation (NYSE:ALB) has risen 30.67% since April 6, 2016 and is uptrending. It has outperformed by 28.71% the S&P500.
The move comes after 7 months negative chart setup for the $9.61 billion company. It was reported on Nov, 8 by Barchart.com. We have $75.30 PT which if reached, will make NYSE:ALB worth $864.90M less.

Albemarle Corporation (NYSE:ALB) Ratings Coverage

Out of 11 analysts covering Albemarle Corporation (NYSE:ALB), 8 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 73% are positive. Albemarle Corporation has been the topic of 23 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Suntrust Robinson maintained the stock with “Buy” rating in Thursday, May 12 report. The stock of Albemarle Corporation (NYSE:ALB) earned “Buy” rating by Citigroup on Monday, April 18. The firm earned “Neutral” rating on Wednesday, November 11 by UBS. The firm has “Neutral” rating by UBS given on Thursday, August 4. The company was downgraded on Thursday, March 10 by Seaport Global. The company was maintained on Friday, August 5 by Deutsche Bank. On Thursday, May 12 the stock rating was maintained by Deutsche Bank with “Buy”. The firm has “Buy” rating given on Tuesday, August 9 by Citigroup. The rating was upgraded by Suntrust Robinson to “Buy” on Friday, August 7. The firm earned “Buy” rating on Tuesday, December 29 by Jefferies.

According to Zacks Investment Research, “Albemarle Corporation is a major producer of fine and performance chemicals including polymer intermediates, cleaning product intermediates and additives, agricultural chemical intermediates, pharmaceutical intermediates, catalysts, brominated flame retardants, bromine chemicals and potassium and chlorine chemicals.”

Insitutional Activity: The institutional sentiment increased to 1.36 in Q2 2016. Its up 0.26, from 1.1 in 2016Q1. The ratio improved, as 31 funds sold all Albemarle Corporation shares owned while 112 reduced positions. 80 funds bought stakes while 115 increased positions. They now own 96.46 million shares or 7.92% less from 104.76 million shares in 2016Q1.
Nordea Invest Mngmt Ab last reported 0% of its portfolio in the stock. Virginia Retirement Et Al last reported 0.01% of its portfolio in the stock. Geode Cap Management Ltd Llc last reported 0.04% of its portfolio in the stock. Babson Management Ltd Limited Liability Company has invested 0.01% of its portfolio in Albemarle Corporation (NYSE:ALB). Seven Eight Ltd Liability Company has 0.28% invested in the company for 10,317 shares. Naples Advisors holds 0.52% of its portfolio in Albemarle Corporation (NYSE:ALB) for 16,080 shares. Capital Va has invested 3.44% of its portfolio in Albemarle Corporation (NYSE:ALB). Eagle Boston Mngmt reported 14,531 shares or 0.16% of all its holdings. Usa Financial Portformulas Corporation holds 5,567 shares or 0.12% of its portfolio. Dai Ichi Life Ltd last reported 0.07% of its portfolio in the stock. Blackrock Advsrs Limited Liability Com has 0.04% invested in the company for 504,477 shares. Pub Sector Pension Invest Board holds 21,200 shares or 0.02% of its portfolio. Euclid accumulated 4,170 shares or 0.01% of the stock. Baring Asset Ltd holds 270,617 shares or 1.75% of its portfolio. Eagle Asset Mngmt accumulated 0.01% or 19,864 shares.

Insider Transactions: Since May 12, 2016, the stock had 0 insider buys, and 2 insider sales for $4.51 million net activity. 50,000 Albemarle Corporation (NYSE:ALB) shares with value of $4.16 million were sold by KISSAM LUTHER C IV. LaBauve Donald J. Jr. had sold 3,564 shares worth $268,514. 4,300 shares were sold by SHERMAN JOHN JR, worth $352,978 on Friday, August 5. Juneau Matthew sold 13,174 shares worth $992,529.

More notable recent Albemarle Corporation (NYSE:ALB) news were published by: Prnewswire.com which released: “Albemarle Corporation to host 2017 Investor Day in New York City” on November 04, 2016, also Prnewswire.com with their article: “Albemarle Corporation to present at Morgan Stanley Global Chemicals and …” published on October 20, 2016, Prnewswire.com published: “Albemarle Corporation to release third quarter 2016 earnings results on …” on October 06, 2016. More interesting news about Albemarle Corporation (NYSE:ALB) were released by: Prnewswire.com and their article: “Albemarle Corporation to present at the KeyBanc Capital Markets Basic …” published on August 25, 2016 as well as Seekingalpha.com‘s news article titled: “Albemarle: Expect Shares To Trade Horizontally Till Year-End” with publication date: November 01, 2016.

ALB Company Profile

Albemarle Corporation, incorporated on November 24, 1993, is a developer, maker and marketer of specialty chemicals across a range of end markets, including the petroleum refining, consumer electronics, energy storage, construction, automotive, steel and aerospace, lubricants, pharmaceuticals, crop protection, household appliances, heating, ventilation, aluminum finishing, food safety and custom chemistry services. The Firm operates through three divisions: Performance Chemicals, Refining Solutions and Chemetall Surface Treatment.

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