Shares of Albemarle Co. (NYSE:ALB) have been given an average rating of “Buy” by the twenty-four research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $130.62.
A number of analysts have issued reports on ALB shares. Zacks Investment Research raised shares of Albemarle from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a report on Wednesday, May 30th. Nomura cut their price objective on shares of Albemarle to $130.00 and set a “buy” rating for the company in a report on Friday, May 11th. Goldman Sachs Group raised shares of Albemarle from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Tuesday, July 3rd. Bank of America started coverage on shares of Albemarle in a report on Monday, June 25th. They issued a “buy” rating and a $115.00 price objective for the company. Finally, Vertical Research raised shares of Albemarle from a “hold” rating to a “buy” rating in a report on Tuesday, June 12th.
NYSE ALB traded down $0.47 during trading on Friday, reaching $97.19. The company’s stock had a trading volume of 1,280,108 shares, compared to its average volume of 1,315,431. The company has a quick ratio of 1.55, a current ratio of 2.19 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $10.59 billion, a P/E ratio of 21.17, a P/E/G ratio of 1.27 and a beta of 1.69. Albemarle has a 12 month low of $86.75 and a 12 month high of $144.99.
Albemarle (NYSE:ALB) last posted its quarterly earnings data on Tuesday, August 7th. The specialty chemicals company reported $1.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.08. The firm had revenue of $853.87 million during the quarter, compared to the consensus estimate of $799.49 million. Albemarle had a net margin of 10.17% and a return on equity of 14.51%. equities analysts expect that Albemarle will post 5.39 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 14th will be issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Thursday, September 13th. Albemarle’s dividend payout ratio (DPR) is presently 29.19%.
In other news, EVP Karen G. Narwold sold 3,100 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $97.11, for a total transaction of $301,041.00. Following the completion of the sale, the executive vice president now owns 30,242 shares of the company’s stock, valued at approximately $2,936,800.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company’s stock.
Several institutional investors have recently modified their holdings of ALB. Credit Agricole S A acquired a new position in Albemarle during the 2nd quarter worth approximately $123,000. Dupont Capital Management Corp increased its position in Albemarle by 81.6% during the 1st quarter. Dupont Capital Management Corp now owns 1,358 shares of the specialty chemicals company’s stock worth $126,000 after purchasing an additional 610 shares in the last quarter. Point72 Asia Hong Kong Ltd increased its position in Albemarle by 145.4% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,669 shares of the specialty chemicals company’s stock worth $155,000 after purchasing an additional 989 shares in the last quarter. SeaCrest Wealth Management LLC increased its position in Albemarle by 145.9% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 1,692 shares of the specialty chemicals company’s stock worth $160,000 after purchasing an additional 1,004 shares in the last quarter. Finally, Tiverton Asset Management LLC increased its position in Albemarle by 53.5% during the 1st quarter. Tiverton Asset Management LLC now owns 1,997 shares of the specialty chemicals company’s stock worth $185,000 after purchasing an additional 696 shares in the last quarter. 90.63% of the stock is owned by institutional investors.
Albemarle Company Profile
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.
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