Albemarle Corporation (ALB) reported quarterly earnings results on Tuesday, May-10-2016. The company said it had a profit of $1.12 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.26. Analysts had a consensus of $0.86. The company posted revenue of $865.40 million in the period, compared to analysts expectations of $814.81 million. The company’s revenue was down -2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 EPS.
Many Wall Street Analysts have commented on Albemarle Corporation. Company shares were Reiterated by Deutsche Bank on Apr 1, 2016 to “Buy”, Firm has raised the Price Target to $ 72 from a previous price target of $62 .Seaport Global Securities Downgraded Albemarle Corporation on Mar 10, 2016 to ” Neutral”, Price Target of the shares are set at $59.
Albemarle Corporation opened for trading at $66.97 and hit $69.07 on the upside on Friday, eventually ending the session at $68.63, with a gain of 2.28% or 1.53 points. The heightened volatility saw the trading volume jump to 14,24,514 shares. Company has a market cap of $7,704 M.
In a different news, on Mar 14, 2016, Karen G Narwold (Sr VP, GC, Corp & Gov Aff) sold 405 shares at $60.38 per share price. According to the SEC, on Mar 8, 2016, Scott Tozier (Sr VP & CFO) sold 556 shares at $58.89 per share price. On Mar 1, 2016, Luther C Iv Kissam (President & CEO) sold 1,048 shares at $57.98 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.