Albemarle Corporation (NYSE:ALB) Receives Consensus Recommendation of “Buy” from Analysts

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%.

WARNING: This article was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this article on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark laws. The correct version of this article can be viewed at https://www.chaffeybreeze.com/2017/07/18/albemarle-corporation-alb-receives-115-60-average-pt-from-analysts-updated-updated-updated.html.

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.

Analyst Recommendations for Albemarle Corporation (NYSE:ALB)

Receive News & Ratings for Albemarle Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply