Albemarle Corporation (NYSE:ALB) has earned an average rating of “Buy” from the fifteen ratings firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $104.54.
A number of equities research analysts have recently commented on ALB shares. Zacks Investment Research upgraded shares of Albemarle Corporation from a “hold” rating to a “buy” rating and set a $119.00 target price for the company in a research report on Tuesday, March 21st. Nomura restated a “buy” rating and set a $124.00 price objective on shares of Albemarle Corporation in a research report on Monday, May 15th. Jefferies Group LLC restated a “buy” rating and set a $120.00 price objective on shares of Albemarle Corporation in a research report on Tuesday, April 4th. Royal Bank Of Canada restated a “buy” rating and set a $132.00 price objective on shares of Albemarle Corporation in a research report on Tuesday, April 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 target price on shares of Albemarle Corporation in a research note on Thursday, June 29th.
Shares of Albemarle Corporation (NYSE:ALB) opened at 116.86 on Tuesday. The company’s 50 day moving average price is $110.26 and its 200 day moving average price is $101.62. The firm has a market cap of $12.94 billion, a P/E ratio of 28.40 and a beta of 1.58. Albemarle Corporation has a 12-month low of $75.11 and a 12-month high of $119.00.
Albemarle Corporation (NYSE:ALB) last posted its quarterly earnings data on Wednesday, May 3rd. The specialty chemicals company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.10. The company had revenue of $722.06 million during the quarter, compared to analysts’ expectations of $678.74 million. Albemarle Corporation had a net margin of 17.02% and a return on equity of 11.97%. Equities research analysts forecast that Albemarle Corporation will post $4.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Thursday, September 14th. Albemarle Corporation’s dividend payout ratio (DPR) is 31.22%.
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In other Albemarle Corporation news, Director Douglas L. Maine sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $107.94, for a total transaction of $1,079,400.00. Following the completion of the sale, the director now directly owns 24,150 shares in the company, valued at approximately $2,606,751. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Scott Tozier sold 25,000 shares of the firm’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $110.13, for a total value of $2,753,250.00. Following the sale, the chief financial officer now directly owns 57,506 shares of the company’s stock, valued at $6,333,135.78. The disclosure for this sale can be found here. Insiders have sold 105,000 shares of company stock valued at $11,499,850 in the last ninety days. Company insiders own 0.74% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Albemarle Corporation by 6.3% in the first quarter. Vanguard Group Inc. now owns 12,287,799 shares of the specialty chemicals company’s stock valued at $1,298,083,000 after buying an additional 725,702 shares in the last quarter. BlackRock Inc. increased its position in shares of Albemarle Corporation by 2,805.3% in the first quarter. BlackRock Inc. now owns 8,310,717 shares of the specialty chemicals company’s stock valued at $877,947,000 after buying an additional 8,024,668 shares in the last quarter. State Street Corp increased its position in shares of Albemarle Corporation by 0.5% in the first quarter. State Street Corp now owns 6,356,839 shares of the specialty chemicals company’s stock valued at $671,675,000 after buying an additional 30,662 shares in the last quarter. Jennison Associates LLC increased its position in shares of Albemarle Corporation by 14.0% in the first quarter. Jennison Associates LLC now owns 5,705,825 shares of the specialty chemicals company’s stock valued at $602,763,000 after buying an additional 702,388 shares in the last quarter. Finally, FMR LLC increased its position in shares of Albemarle Corporation by 3.9% in the first quarter. FMR LLC now owns 2,269,067 shares of the specialty chemicals company’s stock valued at $239,703,000 after buying an additional 84,189 shares in the last quarter. 86.16% of the stock is currently owned by institutional investors.
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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