NEW YORK (TheStreet) -- Shares of Albemarle (ALB - Get Report) are jumping by 9.62% to $74.39 on heavy trading volume late Wednesday morning, after the Baton Rouge, LA-based company reported better-than-expected results for the 2016 first quarter and provided upbeat guidance.

After yesterday's market close, the specialty chemical company reported adjusted earnings of $1.12 per diluted share, exceeding analysts' estimates of 85 cents per share.

Revenue for the period was $865.4 million, above Wall Street's expectations of $815 million.

For 2016, Albemarle forecasts adjusted earnings per diluted share between $3.90 and $4.25 on revenue of $3.3 billion to $3.6 billion, higher than analysts' projections.

Analysts are looking for earnings of $3.67 per share on revenue of $3.39 billion.

About 2.03 million of the company's shares were traded by late this morning compared to its average volume of 1.31 million shares per day.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.

The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins.

The team believes its strengths outweigh the fact that the company has had somewhat disappointing return on equity.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: ALB