Albemarle Corporation (NYSE:ALB) – Analysts at Jefferies Group increased their FY2017 earnings per share estimates for Albemarle Corporation in a note issued to investors on Monday. Jefferies Group analyst L. Alexander now anticipates that the specialty chemicals company will post earnings of $4.45 per share for the year, up from their previous estimate of $4.35. Jefferies Group currently has a “Buy” rating and a $162.00 price target on the stock. Jefferies Group also issued estimates for Albemarle Corporation’s Q4 2017 earnings at $1.19 EPS.
A number of other analysts also recently issued reports on the company. Vertical Research reaffirmed a “hold” rating and issued a $109.00 target price (up previously from $108.00) on shares of Albemarle Corporation in a research report on Thursday, August 10th. SunTrust Banks, Inc. downgraded Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 target price on the stock. in a research report on Wednesday, August 9th. UBS AG lifted their target price on Albemarle Corporation from $123.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, November 9th. BidaskClub downgraded Albemarle Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Loop Capital initiated coverage on Albemarle Corporation in a research report on Thursday, September 28th. They issued a “buy” rating and a $150.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $128.45.
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Shares of Albemarle Corporation (ALB) opened at $137.65 on Wednesday. The company has a market capitalization of $15,841.75, a PE ratio of 35.49, a PEG ratio of 2.18 and a beta of 1.72. Albemarle Corporation has a twelve month low of $77.25 and a twelve month high of $144.99. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 0.35.
Albemarle Corporation (NYSE:ALB) last issued its quarterly earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. The company had revenue of $755.00 million for the quarter, compared to analyst estimates of $732.19 million. Albemarle Corporation had a return on equity of 11.61% and a net margin of 30.07%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, December 14th. Albemarle Corporation’s dividend payout ratio is presently 16.56%.
In other news, EVP Karen G. Narwold sold 11,500 shares of the business’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 completion of the sale, the executive vice president now owns 36,620 shares in the company, valued at $4,246,089. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Matthew Juneau sold 5,397 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $115.77, for a total value of $624,810.69. Following the sale, the executive vice president now owns 360 shares of the company’s stock, valued at approximately $41,677.20. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 213,530 shares during the period. Jennison Associates LLC boosted its stake in shares of Albemarle Corporation by 21.4% in the third quarter. Jennison Associates LLC now owns 7,797,076 shares of the specialty chemicals company’s stock valued at $1,062,819,000 after buying an additional 1,375,546 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Albemarle Corporation by 258.1% in the third quarter. Bank of New York Mellon Corp now owns 4,561,987 shares of the specialty chemicals company’s stock valued at $621,845,000 after buying an additional 3,287,989 shares during the period. TIAA CREF Investment Management LLC boosted its stake in shares of Albemarle Corporation by 69.2% in the second quarter. TIAA CREF Investment Management LLC now owns 1,661,821 shares of the specialty chemicals company’s stock valued at $175,389,000 after buying an additional 679,453 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of Albemarle Corporation by 95.3% in the third quarter. Janus Henderson Group PLC now owns 1,595,684 shares of the specialty chemicals company’s stock valued at $217,507,000 after buying an additional 778,649 shares during the period. Institutional investors own 86.64% of the company’s stock.
About Albemarle Corporation
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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