Dec. 16, 2015, 8:28 PM
- Albemarle (ALB +6.5%) says it's selling its Mineral Flame Retardants and Specialty Chemicals businesses, to flame-retardants specialist J.M. Huber and its Huber Engineered Materials unit.
- The move is part of Albemarle's plan to sell non-core businesses and assets and includes its 50% interest in the Magnifin Magnesiaprodukte JV with RHI, as well as its Martinswerk unit and plant.
- Terms weren't disclosed; the deal is expected to close early next year.
- "We continue to execute our plan to sell non-strategic businesses and assets which will allow Albemarle to enhance our focus on growth opportunities within our core businesses," said Albemarle president/CEO Luke Kissam.
Oct. 9, 2015, 11:21 AM
- Albemarle (ALB +1.7%) is upgraded to Conviction Buy from Buy with a $63 price target at Goldman Sachs, reflecting increased confidence that ALB is "on the cusp of an unappreciated pricing cycle" in its bromine, lithium and refining solutions businesses.
- Goldman says the diversity and high cash flow of ALB’s businesses - the firm models 7% free cash flow yield in 2016 and 11% in 2017 - will enable the company to reduce net debt even in the event of economic malaise.
- The firm also believes the recent selloff provides an opportunistic entry point, as shares are lower by 20% in the past five months and its multiple has compressed to 11.7x 2016 EPS estimate vs. a historical average of ~14x.
Jun. 29, 2015, 3:58 PM
- Calgon Carbon (CCC -8.1%) is sharply lower after the Supreme Court ruled against the EPA's recent mercury emissions mandate, which sent coal stock prices soaring.
- CCC says that while the Court's decision is disappointing, mercury control regulations are in place in many states and Canada that already have established a sizable market; CCC says it continues to expect to increase its activated carbon mercury removal market revenues by ~50% this year.
- Specialty chemical companies Albemarle (ALB -4.9%) and Cabot (CBT -6.6%), which also may have benefited from increased sales of bromine and activated carbon used to reduce mercury, fell sharply.
- Also posting big losses: ADES -9.6%, GTLS -5.4%, LDL -5.1%, ESE -2.7%, ECL -2.4%, DHR -1.2%.
Oct. 9, 2014, 5:36 PM
Jul. 15, 2014, 2:49 PM
- It isn't just Rockwood's (ROC +11.9%) lithium technology that's driving Albemarle's (ALB -0.6%) $6.2B takeover offer - it's good ol' cheap money, Heard on the Street's Liam Denning writes.
- At the end of Q1, ALB’s net debt stood at less than 1x EBITDA, unfashionable with investors when ultra-low interest rates ensure returns on cash are a pittance; with the deal, ALB expects net debt to jump to 3.5x EBITDA with higher cash flows reducing that number quickly, just like a leveraged buyout.
- Credit Suisse likes the deal and raises its price target for Outperform-rated ALB to $90, but Oppenheimer downgrades shares to Underperform, saying the acquisition looks like a "defensive transaction."
Jan. 24, 2013, 2:05 PMAlbemarle (ALB -5.2%) is cut to Hold from Buy at Deutsche Bank, which sees no near-term catalysts after the specialty chemical maker's Q4 results, as 2013 EPS will be back-end loaded and valuation is fair at 13.2x estimated EPS. With H1 EPS expected down 17% Y/Y, the firm believes the shares will be range-bound for now. | Jan. 24, 2013, 2:05 PM
Nov. 28, 2012, 2:59 PM
Shares of Albemarle (ALB +1.6%) move higher today on positive comments out Goldman. The firm says that the stock overly discounts uncertainties surrounding its Polymer Solutions business. Polymer Solutions represent only 2%-3% of total sales, and weak volumes reflect cyclical economic weakness. ALB should see a strong tailwind as macroeconomic growth recovers. It reiterates a Buy with $67 price target.| Nov. 28, 2012, 2:59 PM
Oct. 17, 2012, 4:43 PMAlbemarle (ALB): Q3 EPS of $1.10 beats by $0.02. Revenue of $661.2M (-8.4% Y/Y) misses by $9M. Shares -4.2% AH. (PR) | Oct. 17, 2012, 4:43 PM
Jul. 17, 2012, 4:17 PMAlbemarle (ALB): Q2 EPS of $1.24 beats by $0.02. Revenue of $684.9M (-7.7% Y/Y) misses by $53M. Shares -3.4% AH. (PR) | Jul. 17, 2012, 4:17 PM
May 25, 2012, 4:38 PM
Specialty chemicals manufacturer Albemarle (ALB) -1.5% AH after announcing it will increase global prices for all grades of ibuprofen by an estimated 15% effective immediately, or as contracts allow.| May 25, 2012, 4:38 PM
Jan. 24, 2012, 12:42 PM
Jan. 18, 2012, 5:49 PM
Albemarle Corp (ALB) says it intends to separate its electronic-grade metal organics into a new electronic materials business unit, which will operate as a subgroup of its newly renamed Performance Catalyst Solutions division. The newly-formed unit will serve its rapidly expanding LED, compound semiconductor and solar panel business. Shares -1.3% AH.| Jan. 18, 2012, 5:49 PM
Nov. 8, 2011, 2:17 PM
Aug. 16, 2011, 10:40 AM