Albemarle Co. (ALB) to Issue Quarterly Dividend of $0.34

Albemarle Co. (NYSE:ALB) declared a quarterly dividend on Friday, February 23rd, RTT News reports. Stockholders of record on Thursday, March 15th will be paid a dividend of 0.335 per share by the specialty chemicals company on Monday, April 2nd. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Wednesday, March 14th. This is a boost from Albemarle’s previous quarterly dividend of $0.32.

Albemarle has increased its dividend by an average of 5.9% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Albemarle has a payout ratio of 28.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Albemarle to earn $5.75 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 22.3%.

Albemarle (NYSE ALB) opened at $98.07 on Friday. The company has a current ratio of 2.06, a quick ratio of 1.57 and a debt-to-equity ratio of 0.37. The stock has a market cap of $11,100.35, a P/E ratio of 21.81, a PEG ratio of 1.21 and a beta of 1.60. Albemarle has a 1 year low of $90.49 and a 1 year high of $144.99.

Albemarle (NYSE:ALB) last announced its earnings results on Tuesday, February 27th. The specialty chemicals company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.13. The business had revenue of $857.79 million for the quarter, compared to analyst estimates of $791.46 million. Albemarle had a net margin of 1.79% and a return on equity of 13.27%. research analysts predict that Albemarle will post 5.11 EPS for the current year.

ALB has been the topic of a number of analyst reports. Citigroup lowered their price objective on shares of Albemarle from $148.00 to $112.00 and set a “neutral” rating on the stock in a research report on Thursday, March 1st. Berenberg Bank initiated coverage on shares of Albemarle in a research report on Tuesday, February 27th. They issued a “buy” rating and a $150.00 price objective on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $130.00 price objective (down from $160.00) on shares of Albemarle in a research report on Friday, March 2nd. Seaport Global Securities reiterated a “hold” rating and issued a $130.00 price objective on shares of Albemarle in a research report on Monday, February 5th. Finally, Morgan Stanley initiated coverage on shares of Albemarle in a research report on Tuesday, February 27th. They issued a “buy” rating and a $150.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $128.07.

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About Albemarle

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.

Dividend History for Albemarle (NYSE:ALB)

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