Albemarle Co. Expected to Post FY2019 Earnings of $5.78 Per Share (NYSE:ALB)

Albemarle Co. (NYSE:ALB) – Seaport Global Securities issued their FY2019 earnings per share (EPS) estimates for Albemarle in a research note issued to investors on Monday, according to Zacks Investment Research. Seaport Global Securities analyst M. Harrison anticipates that the specialty chemicals company will post earnings per share of $5.78 for the year. Seaport Global Securities has a “Hold” rating and a $130.00 price objective on the stock.

ALB has been the topic of a number of other reports. Robert W. Baird reiterated a “hold” rating and set a $135.00 target price on shares of Albemarle in a report on Wednesday, November 1st. UBS Group upgraded shares of Albemarle from a “neutral” rating to a “buy” rating and increased their target price for the stock from $113.00 to $150.00 in a report on Tuesday, January 30th. Jefferies Group increased their target price on shares of Albemarle from $156.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday, November 14th. Oppenheimer reiterated a “buy” rating on shares of Albemarle in a report on Wednesday, January 17th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $149.00 target price on shares of Albemarle in a report on Wednesday, October 18th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $127.88.

Shares of Albemarle (NYSE:ALB) traded up $3.01 during mid-day trading on Tuesday, hitting $111.46. 1,154,122 shares of the stock traded hands, compared to its average volume of 2,348,458. The firm has a market cap of $11,860.00, a price-to-earnings ratio of 39.83, a P/E/G ratio of 1.47 and a beta of 1.56. Albemarle has a 52-week low of $91.02 and a 52-week high of $144.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.56 and a current ratio of 2.11.

Large investors have recently made changes to their positions in the business. Lord Abbett & CO. LLC purchased a new stake in shares of Albemarle in the 2nd quarter valued at approximately $11,681,000. Sumitomo Life Insurance Co. purchased a new position in shares of Albemarle in the 3rd quarter valued at $1,703,000. Hardman Johnston Global Advisors LLC grew its position in shares of Albemarle by 1.9% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 285,837 shares of the specialty chemicals company’s stock valued at $38,962,000 after buying an additional 5,430 shares during the last quarter. Advisory Services Network LLC grew its position in shares of Albemarle by 43.7% in the 2nd quarter. Advisory Services Network LLC now owns 1,273 shares of the specialty chemicals company’s stock valued at $134,000 after buying an additional 387 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of Albemarle by 98.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,307,904 shares of the specialty chemicals company’s stock valued at $178,281,000 after buying an additional 650,158 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors.

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Albemarle 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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Earnings History and Estimates for Albemarle (NYSE:ALB)

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