Albemarle Co. (NYSE:ALB) announced a quarterly dividend on Friday, February 23rd, RTT News reports. Investors of record on Thursday, March 15th will be paid a dividend of 0.335 per share by the specialty chemicals company on Monday, April 2nd. This represents a $1.34 annualized dividend and a dividend yield of 1.13%. This is an increase from Albemarle’s previous quarterly dividend of $0.32.
Albemarle has raised its dividend payment by an average of 5.9% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Albemarle has a payout ratio of 28.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Albemarle to earn $5.12 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 25.0%.
Shares of Albemarle (NYSE:ALB) opened at $118.75 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.56 and a current ratio of 2.11. Albemarle has a 12-month low of $91.02 and a 12-month high of $144.99. The company has a market capitalization of $12,561.14, a P/E ratio of 15.36, a P/E/G ratio of 1.50 and a beta of 1.56.
Several brokerages have issued reports on ALB. Robert W. Baird restated a “hold” rating and issued a $135.00 target price on shares of Albemarle in a report on Wednesday, November 1st. UBS Group upped their target price on Albemarle from $123.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, November 9th. Royal Bank of Canada upped their target price on Albemarle from $149.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Nomura upped their target price on Albemarle to $159.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Finally, Jefferies Group upped their target price on Albemarle from $156.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, November 14th. Ten investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Albemarle currently has an average rating of “Buy” and an average target price of $129.79.
ILLEGAL ACTIVITY WARNING: This story was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this story on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark legislation. The original version of this story can be read at https://www.dispatchtribunal.com/2018/02/24/albemarle-co-alb-raises-dividend-to-0-34-per-share.html.
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.
Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.