Albemarle Co. (ALB) Given Average Rating of “Buy” by Brokerages

Shares of Albemarle Co. (NYSE:ALB) have been assigned an average recommendation of “Buy” from the twenty-three analysts that are currently covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $125.50.

Several research firms recently commented on ALB. Jefferies Group boosted their price target on Albemarle from $156.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Deutsche Bank cut Albemarle from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Robert W. Baird reiterated a “hold” rating and issued a $135.00 price target on shares of Albemarle in a research note on Wednesday, November 1st. Royal Bank of Canada boosted their price target on Albemarle from $149.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th. Finally, Nomura boosted their price target on Albemarle to $159.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th.

Shares of Albemarle (NYSE:ALB) traded down $0.16 during midday trading on Friday, hitting $111.21. The stock had a trading volume of 1,419,134 shares, compared to its average volume of 2,222,058. Albemarle has a 52 week low of $90.35 and a 52 week high of $144.99. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.11 and a quick ratio of 1.56. The stock has a market capitalization of $12,320.00, a P/E ratio of 39.83, a price-to-earnings-growth ratio of 1.46 and a beta of 1.69.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. Albemarle had a return on equity of 11.61% and a net margin of 30.07%. The business had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $732.19 million. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The company’s revenue was up 15.4% compared to the same quarter last year. sell-side analysts expect that Albemarle will post 4.46 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Thursday, December 14th. Albemarle’s payout ratio is currently 45.71%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lord Abbett & CO. LLC acquired a new stake in Albemarle during the second quarter valued at approximately $11,681,000. Sumitomo Life Insurance Co. acquired a new stake in Albemarle during the third quarter valued at approximately $1,703,000. Hardman Johnston Global Advisors LLC raised its stake in Albemarle by 1.9% during the third quarter. Hardman Johnston Global Advisors LLC now owns 285,837 shares of the specialty chemicals company’s stock valued at $38,962,000 after buying an additional 5,430 shares in the last quarter. Advisory Services Network LLC raised its stake in Albemarle by 43.7% during the second quarter. Advisory Services Network LLC now owns 1,273 shares of the specialty chemicals company’s stock valued at $134,000 after buying an additional 387 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in shares of Albemarle by 98.8% during the 3rd 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 during the period. Hedge funds and other institutional investors own 88.03% of the company’s stock.

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Albemarle 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.

Analyst Recommendations for Albemarle (NYSE:ALB)

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