Albemarle Co. (NYSE:ALB) has been given a consensus recommendation of “Buy” by the twenty-three analysts that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and sixteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $118.09.
A number of research analysts have recently weighed in on the company. Loop Capital set a $130.00 price target on Albemarle and gave the company a “buy” rating in a research note on Friday, October 19th. ValuEngine downgraded Albemarle from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. Vertical Research assumed coverage on Albemarle in a research note on Tuesday, September 25th. They issued a “sell” rating and a $85.00 price target on the stock. Vertical Group assumed coverage on Albemarle in a research note on Tuesday, September 25th. They issued a “sell” rating and a $85.00 price target on the stock. Finally, Zacks Investment Research raised Albemarle from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research note on Thursday, December 20th.
ALB stock opened at $77.41 on Friday. Albemarle has a 1-year low of $71.89 and a 1-year high of $135.81. The company has a market capitalization of $8.16 billion, a PE ratio of 16.86, a P/E/G ratio of 0.77 and a beta of 1.64. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.83.
Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, November 7th. The specialty chemicals company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.06. The firm had revenue of $778.00 million for the quarter, compared to analyst estimates of $796.79 million. Albemarle had a return on equity of 15.39% and a net margin of 10.44%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $1.08 EPS. Analysts forecast that Albemarle will post 5.43 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th were issued a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Thursday, December 13th. Albemarle’s payout ratio is 29.19%.
In related news, CFO Scott Tozier sold 3,343 shares of Albemarle stock in a transaction dated Friday, January 4th. The stock was sold at an average price of $74.55, for a total transaction of $249,220.65. Following the completion of the transaction, the chief financial officer now owns 46,711 shares in the company, valued at $3,482,305.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Karen G. Narwold sold 1,295 shares of Albemarle stock in a transaction dated Friday, January 4th. The stock was sold at an average price of $74.76, for a total value of $96,814.20. Following the transaction, the executive vice president now owns 31,028 shares of the company’s stock, valued at approximately $2,319,653.28. The disclosure for this sale can be found here. Insiders sold a total of 7,738 shares of company stock valued at $645,309 in the last 90 days. 0.80% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of ALB. Rehmann Capital Advisory Group raised its position in shares of Albemarle by 3,087.5% in the third quarter. Rehmann Capital Advisory Group now owns 255 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 247 shares in the last quarter. Valeo Financial Advisors LLC raised its position in shares of Albemarle by 17,210.0% in the third quarter. Valeo Financial Advisors LLC now owns 1,731 shares of the specialty chemicals company’s stock valued at $171,000 after buying an additional 1,721 shares in the last quarter. Evercore Wealth Management LLC acquired a new stake in shares of Albemarle in the third quarter valued at approximately $202,000. Palladium Partners LLC acquired a new stake in shares of Albemarle in the third quarter valued at approximately $205,000. Finally, GSA Capital Partners LLP acquired a new position in Albemarle during the second quarter valued at approximately $212,000. Institutional investors and hedge funds own 92.51% of the company’s stock.
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.
Featured Story: What does RSI mean?
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.