Citigroup Maintains Albemarle Corporation to Buy with Price Target $95.00

Brokerage firm Citigroup Maintains its rating on Albemarle Corporation(NYSE:ALB). In a research note issued to the investors, the brokerage major Lowers the price-target to $95.00 per share. The shares have been rated Buy. The rating by Citigroup was issued on Aug 9, 2016.

In a different note, On Aug 5, 2016, Deutsche Bank said it Maintains its rating on Albemarle Corporation. In the research note, the firm Raises the price-target to $94.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 4, 2016, UBS said it Maintains its rating on Albemarle Corporation. In the research note, the firm Raises the price-target to $74.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 15, 2016, Citigroup said it Maintains its rating on Albemarle Corporation. In the research note, the firm Raises the price-target to $89.00 per share. The shares have been rated ‘Buy’ by the firm. On May 12, 2016, Citigroup said it Maintains its rating on Albemarle Corporation. In the research note, the firm Raises the price-target to $76.00 per share. The shares have been rated ‘Buy’ by the firm. On May 12, 2016, Deutsche Bank said it Maintains its rating on Albemarle Corporation. In the research note, the firm Raises the price-target to $72.00 per share. The shares have been rated ‘Buy’ by the firm. On May 12, 2016, Jefferies said it Maintains its rating on Albemarle Corporation. In the research note, the firm Raises the price-target to $75.00 per share. The shares have been rated ‘Buy’ by the firm.

Albemarle Corporation (ALB) shares turned negative on Wednesdays trading session with the shares closing down -1.18 points or -1.44% at a volume of 11,83,178. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $81.83. The peak price level was also seen at $81.83 while the days lowest was $80.18. Finally the shares closed at $80.55. The 52-week high of the shares is $87.29 while the 52-week low is $41.37. According to the latest information available, the market cap of the company is $9,054 M.

Albemarle Corporation has also declared a cash dividend of $0.3050 on Jul 11, 2016. The shares will quote ex-dividend on Sep 13, 2016 and the record date has been fixed on Sep 15, 2016. The dividend payable date has been fixed on Oct 3, 2016.

Albemarle Corporation(ALB) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $669.33M. Analysts had an estimated revenue of $860.49M. Earnings per share were $0.93. Analysts had estimated an EPS of $1.01.

Several Insider Transactions has been reported to the SEC. On Aug 8, 2016, John Jr Sherman (director) sold 4,300 shares at $82.11 per share price.Also, On May 13, 2016, Matthew Juneau (Sr VP, Corp Strategy & IR) sold 13,174 shares at $75.34 per share price.On May 13, 2016, Donald J. Jr. Labauve (VP, Corporate Controller & CAO) sold 3,564 shares at $75.35 per share price, according to the Form-4 filing with the securities and exchange commission.

Albemarle Corporation (Albemarle) is a developer manufacturer and marketer of specialty chemicals across a range of end markets including the petroleum refining consumer electronics plastics/packaging construction automotive lubricants pharmaceuticals crop protection food-safety and custom chemistry services markets. The Company operates through two segments: Performance Chemicals and Catalyst Solutions. As of December 31 2014 the Performance Chemicals segment includes the Fire Safety Solutions Specialty Chemicals and Fine Chemistry Services product categories. As of December 31 2014 the Catalyst Solutions segment includes the Refinery Catalyst Solutions and Performance Catalyst Solutions product categories.

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