Albemarle Corporation (NYSE:ALB) had its price objective raised by Jefferies Group LLC from $156.00 to $162.00 in a research report released on Tuesday. The firm currently has a buy rating on the specialty chemicals company’s stock. Jefferies Group also issued estimates for Albemarle Corporation’s Q4 2017 earnings at $1.19 EPS and FY2017 earnings at $4.45 EPS.
ALB has been the topic of several other reports. KeyCorp reiterated a buy rating and issued a $125.00 target price on shares of Albemarle Corporation in a report on Sunday, September 3rd. Zacks Investment Research lowered shares of Albemarle Corporation from a buy rating to a hold rating in a report on Tuesday, August 1st. Oppenheimer Holdings, Inc. started coverage on shares of Albemarle Corporation in a report on Wednesday, August 16th. They issued an outperform rating and a $133.00 target price on the stock. Robert W. Baird reiterated a hold rating and issued a $135.00 target price on shares of Albemarle Corporation in a report on Wednesday, November 1st. Finally, Instinet increased their target price on shares of Albemarle Corporation from $134.00 to $146.00 and gave the stock a buy rating in a report on Monday, September 18th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $128.45.
Shares of Albemarle Corporation (ALB) opened at $136.21 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 0.35. The firm has a market cap of $14,950.00, a price-to-earnings ratio of 34.07, a price-to-earnings-growth ratio of 2.09 and a beta of 1.72. Albemarle Corporation has a twelve month low of $82.18 and a twelve month high of $144.99.
Albemarle Corporation (NYSE:ALB) last posted its earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. The company had revenue of $755.00 million for the quarter, compared to analyst estimates of $732.19 million. Albemarle Corporation had a net margin of 30.07% and a return on equity of 11.61%. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the business posted $0.91 earnings per share. sell-side analysts anticipate that Albemarle Corporation will post 4.45 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Thursday, December 14th. Albemarle Corporation’s dividend payout ratio (DPR) is currently 45.71%.
In related news, EVP Karen G. Narwold sold 11,500 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $115.95, for a total value of $1,333,425.00. Following the completion of the transaction, the executive vice president now owns 36,620 shares of the company’s stock, valued at $4,246,089. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Matthew Juneau sold 5,397 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $115.77, for a total transaction of $624,810.69. Following the completion of the transaction, the executive vice president now directly owns 360 shares of the company’s stock, valued at approximately $41,677.20. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in ALB. Northwestern Mutual Wealth Management Co. grew its position in Albemarle Corporation by 2.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock valued at $102,000 after purchasing an additional 20 shares in the last quarter. Thompson Davis & CO. Inc. grew its position in Albemarle Corporation by 650.0% in the third quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock valued at $102,000 after purchasing an additional 650 shares in the last quarter. Carroll Financial Associates Inc. grew its position in Albemarle Corporation by 0.3% in the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock valued at $103,000 after purchasing an additional 3 shares in the last quarter. Smithfield Trust Co. grew its position in Albemarle Corporation by 16.1% in the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock valued at $106,000 after purchasing an additional 140 shares in the last quarter. Finally, Highlander Capital Management LLC bought a new position in Albemarle Corporation in the second quarter valued at $106,000. 86.64% of the stock is owned by institutional investors and hedge funds.
Albemarle Corporation Company Profile
Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.
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