Albemarle Co. (NYSE:ALB) has been assigned an average recommendation of “Buy” from the twenty-nine research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and twenty-two have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $123.40.
A number of brokerages have issued reports on ALB. Nomura decreased their price target on Albemarle to $130.00 and set a “buy” rating for the company in a report on Friday, May 11th. Citigroup raised Albemarle from a “neutral” rating to a “buy” rating and set a $106.00 price target for the company in a report on Friday, April 13th. TheStreet raised Albemarle from a “c+” rating to a “b” rating in a report on Wednesday, May 9th. Seaport Global Securities reaffirmed a “buy” rating on shares of Albemarle in a report on Tuesday, March 6th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $130.00 price target (down from $160.00) on shares of Albemarle in a report on Friday, March 2nd.
Shares of Albemarle opened at $93.51 on Monday, according to MarketBeat. The stock has a market cap of $10.25 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 1.27 and a beta of 1.63. The company has a quick ratio of 1.72, a current ratio of 2.48 and a debt-to-equity ratio of 0.36. Albemarle has a 1 year low of $86.75 and a 1 year high of $144.99.
Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, May 9th. The specialty chemicals company reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.10. The company had revenue of $821.60 million during the quarter, compared to the consensus estimate of $798.20 million. Albemarle had a return on equity of 13.80% and a net margin of 4.27%. Albemarle’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.05 EPS. equities research analysts expect that Albemarle will post 5.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 15th will be issued a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Thursday, June 14th. Albemarle’s payout ratio is currently 29.19%.
Institutional investors and hedge funds have recently bought and sold shares of the business. Banco de Sabadell S.A purchased a new stake in Albemarle during the 4th quarter valued at approximately $133,000. Dupont Capital Management Corp raised its stake 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 valued at $126,000 after acquiring an additional 610 shares during the last quarter. Point72 Asia Hong Kong Ltd raised its stake 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 valued at $155,000 after acquiring an additional 989 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in Albemarle during the 4th quarter valued at approximately $225,000. Finally, Tiverton Asset Management LLC raised its stake 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 valued at $185,000 after acquiring an additional 696 shares during the last quarter. 86.20% of the stock is owned by hedge funds and other 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.
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.