Albemarle Corporation (NYSE:ALB) had its target price boosted by Royal Bank Of Canada from $149.00 to $155.00 in a research report released on Friday, Marketbeat Ratings reports. Royal Bank Of Canada currently has an outperform rating on the specialty chemicals company’s stock.
A number of other equities research analysts have also recently weighed in on the stock. UBS AG lifted their price target on shares of Albemarle Corporation from $123.00 to $150.00 and gave the company a neutral rating in a research report on Thursday, November 9th. Robert W. Baird reiterated a hold rating and set a $135.00 price target on shares of Albemarle Corporation in a research report on Wednesday, November 1st. BMO Capital Markets started coverage on shares of Albemarle Corporation in a research report on Tuesday, October 24th. They set an outperform rating and a $160.00 price target for the company. Jefferies Group LLC reissued a buy rating on shares of Albemarle Corporation in a research note on Tuesday, October 24th. Finally, Zacks Investment Research raised shares of Albemarle Corporation from a hold rating to a buy rating and set a $157.00 price objective for the company in a research note on Tuesday, October 17th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $128.15.
Shares of Albemarle Corporation (ALB) opened at $143.37 on Friday. Albemarle Corporation has a 12-month low of $76.32 and a 12-month high of $144.99. The stock has a market cap of $15,840.00, a PE ratio of 34.81, a P/E/G ratio of 2.14 and a beta of 1.72. 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 Corporation (NYSE:ALB) last released its quarterly earnings data on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. Albemarle Corporation had a net margin of 30.07% and a return on equity of 11.61%. The firm had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $732.19 million. During the same period last year, the business earned $0.91 earnings per share. Albemarle Corporation’s revenue was up 15.4% compared to the same quarter last year. analysts predict that Albemarle Corporation will post 4.45 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.28 dividend on an annualized basis and a yield of 0.89%. Albemarle Corporation’s dividend payout ratio is currently 45.71%.
In other Albemarle Corporation news, EVP Matthew Juneau sold 5,397 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $115.77, for a total transaction of $624,810.69. Following the sale, the executive vice president now owns 360 shares of the company’s stock, valued at $41,677.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Karen G. Narwold sold 11,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $115.95, for a total transaction of $1,333,425.00. Following the sale, the executive vice president now directly owns 36,620 shares in the company, valued at approximately $4,246,089. The disclosure for this sale can be found here. 0.74% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Albemarle Corporation by 1.7% during the second quarter. Vanguard Group Inc. now owns 12,501,329 shares of the specialty chemicals company’s stock worth $1,319,389,000 after purchasing an additional 213,530 shares in the last quarter. Jennison Associates LLC raised its holdings in Albemarle Corporation by 21.4% during the third quarter. Jennison Associates LLC now owns 7,797,076 shares of the specialty chemicals company’s stock worth $1,062,819,000 after purchasing an additional 1,375,546 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Albemarle Corporation by 258.1% during the third quarter. Bank of New York Mellon Corp now owns 4,561,987 shares of the specialty chemicals company’s stock worth $621,845,000 after purchasing an additional 3,287,989 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in Albemarle Corporation by 69.2% during the second quarter. TIAA CREF Investment Management LLC now owns 1,661,821 shares of the specialty chemicals company’s stock worth $175,389,000 after purchasing an additional 679,453 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in Albemarle Corporation by 98.8% during the third quarter. Allianz Asset Management GmbH now owns 1,307,904 shares of the specialty chemicals company’s stock worth $178,281,000 after purchasing an additional 650,158 shares in the last quarter. 86.64% 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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