Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of specialty chemicals maker Albemarle (NYSE: ALB) made a batch of green goo and fell as much as 12% in trading today.

So what: Not only is the market stinking it up today, an analyst thinks Albemarle is a bit off. Longbow Research reduced the company to neutral from a buy rating.

Now what: We Fools aren't big fans of Wall Street analysts, but let's look at what they're expecting right now. For the full year, analysts are looking for $4.67 in earnings per share, which puts Albemarle's P/E ratio for 2011 at 10.6. Now, consider that analysts have underestimated earnings for the past four quarters and you have a cheap stock on your hands. I would take this dip as a buying opportunity in a stock that looks to be a great value.

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