Royal Bank of Canada Reaffirms “Buy” Rating for Albemarle (ALB)

Royal Bank of Canada reissued their buy rating on shares of Albemarle (NYSE:ALB) in a research report report published on Tuesday. The firm currently has a $113.00 price target on the specialty chemicals company’s stock.

Several other analysts also recently commented on ALB. Zacks Investment Research downgraded shares of Albemarle from a buy rating to a hold rating in a report on Tuesday, December 19th. Loop Capital set a $150.00 target price on shares of Albemarle and gave the company a buy rating in a report on Tuesday, December 19th. Robert W. Baird upgraded shares of Albemarle from a neutral rating to an outperform rating and increased their target price for the company from $131.72 to $133.51 in a report on Monday, January 8th. Oppenheimer reiterated a buy rating on shares of Albemarle in a report on Wednesday, January 17th. Finally, Jefferies Group lowered their target price on shares of Albemarle to $150.00 and set a buy rating for the company in a report on Friday, January 19th. Seven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $126.98.

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Shares of ALB stock opened at $97.75 on Tuesday. The stock has a market capitalization of $10,907.84, a PE ratio of 21.43, a PEG ratio of 1.18 and a beta of 1.66. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.06 and a quick ratio of 1.57. Albemarle has a one year low of $86.75 and a one year high of $144.99.

Albemarle (NYSE:ALB) last announced its earnings results on Tuesday, February 27th. The specialty chemicals company reported $1.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.13. The company had revenue of $857.79 million during the quarter, compared to the consensus estimate of $791.46 million. Albemarle had a net margin of 1.79% and a return on equity of 13.27%. equities research analysts anticipate that Albemarle will post 5.15 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th were given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Wednesday, March 14th. This is a positive change from Albemarle’s previous quarterly dividend of $0.32. Albemarle’s dividend payout ratio (DPR) is currently 29.19%.

A number of large investors have recently modified their holdings of ALB. Stifel Financial Corp boosted its position in Albemarle by 21.3% during the third quarter. Stifel Financial Corp now owns 7,456 shares of the specialty chemicals company’s stock worth $1,021,000 after purchasing an additional 1,309 shares during the period. Janney Montgomery Scott LLC boosted its position in Albemarle by 87.2% during the third quarter. Janney Montgomery Scott LLC now owns 7,645 shares of the specialty chemicals company’s stock worth $1,042,000 after purchasing an additional 3,561 shares during the period. Neuberger Berman Group LLC boosted its position in Albemarle by 12.5% during the third quarter. Neuberger Berman Group LLC now owns 15,412 shares of the specialty chemicals company’s stock worth $2,101,000 after purchasing an additional 1,711 shares during the period. Parametric Portfolio Associates LLC boosted its position in Albemarle by 6.4% during the third quarter. Parametric Portfolio Associates LLC now owns 174,747 shares of the specialty chemicals company’s stock worth $23,820,000 after purchasing an additional 10,503 shares during the period. Finally, Atlantic Trust Group LLC boosted its position in Albemarle by 256.2% during the third quarter. Atlantic Trust Group LLC now owns 46,160 shares of the specialty chemicals company’s stock worth $6,292,000 after purchasing an additional 33,200 shares during the period. Hedge funds and other institutional investors own 86.44% of the company’s stock.

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About Albemarle

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.

Analyst Recommendations for Albemarle (NYSE:ALB)

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