Albemarle (NYSE:ALB) had its price objective raised by Jefferies Group from $156.00 to $162.00 in a research report sent to investors on Tuesday, November 14th. Jefferies Group currently has a buy rating on the specialty chemicals company’s stock. Jefferies Group also issued estimates for Albemarle’s Q4 2017 earnings at $1.19 EPS and FY2017 earnings at $4.45 EPS.
ALB has been the subject of a number of other research reports. BidaskClub lowered Albemarle from a buy rating to a hold rating in a research report on Saturday, August 12th. UBS boosted their price objective on Albemarle from $123.00 to $150.00 and gave the company a neutral rating in a research report on Thursday, November 9th. BMO Capital Markets assumed coverage on Albemarle in a research report on Tuesday, October 24th. They set an outperform rating and a $160.00 price objective for the company. Vertical Research restated a hold rating and set a $109.00 price objective (up previously from $108.00) on shares of Albemarle in a research report on Thursday, August 10th. Finally, Royal Bank Of Canada reiterated a buy rating and set a $136.00 price target on shares of Albemarle in a research report on Wednesday, September 20th. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Albemarle currently has an average rating of Buy and an average price target of $128.45.
Shares of Albemarle (NYSE ALB) traded down $2.17 during trading hours on Tuesday, hitting $132.15. The company had a trading volume of 1,240,091 shares, compared to its average volume of 1,234,781. The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 0.35. Albemarle has a 1-year low of $84.37 and a 1-year high of $144.99. The stock has a market cap of $14,602.05, a P/E ratio of 32.71, a P/E/G ratio of 2.00 and a beta of 1.70.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Thursday, December 14th. Albemarle’s dividend payout ratio (DPR) is presently 16.56%.
Several institutional investors have recently made changes to their positions in the company. Cornerstone Advisors Inc. raised its position in Albemarle by 26.8% during the second quarter. Cornerstone Advisors Inc. now owns 1,751 shares of the specialty chemicals company’s stock valued at $185,000 after buying an additional 370 shares during the period. Baillie Gifford & Co. raised its position in Albemarle by 100.8% during the second quarter. Baillie Gifford & Co. now owns 184,555 shares of the specialty chemicals company’s stock valued at $19,478,000 after buying an additional 92,650 shares during the period. Meiji Yasuda Asset Management Co Ltd. acquired a new position in Albemarle during the second quarter valued at $439,000. Lord Abbett & CO. LLC acquired a new position in Albemarle during the second quarter valued at $11,681,000. Finally, Sumitomo Life Insurance Co. acquired a new position in Albemarle during the third quarter valued at $1,703,000. 87.85% of the stock is currently owned by institutional investors.
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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