UPDATE: Gilford Securities Downgrades Albemarle to Hold on Valuation, Restricted Fundamentals Flow

Gilford Securities downgraded Albemarle Corporation (NYSE: ALB) from Buy to Hold.

Gilford Securities noted, "The company is a bit of a black box in the chemical space. That is, its businesses are quite unrelated and opaque from the outside. Fundamentals can change sharply and quickly without investors knowing about it until it is reported, which happened in 2H12. This puts recurring swings into the stock, as investors first fret over issues of transparency and credibility, and then get over it."

Albemarle closed at $64.95 on Monday.