Albemarle Co. (NYSE:ALB) has earned a consensus recommendation of “Hold” from the seventeen ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $100.97.
A number of analysts have recently weighed in on ALB shares. Loop Capital cut their price target on shares of Albemarle to $112.00 and set a “buy” rating for the company in a report on Friday, January 18th. They noted that the move was a valuation call. reaffirmed a “buy” rating and set a $157.00 price target on shares of Albemarle in a report on Thursday, February 14th. Deutsche Bank upped their price target on shares of Albemarle from $84.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, February 25th. Citigroup downgraded shares of Albemarle from a “buy” rating to a “neutral” rating and cut their price target for the stock from $90.00 to $81.00 in a report on Tuesday, February 5th. Finally, Buckingham Research cut their price target on shares of Albemarle from $100.00 to $88.00 and set a “neutral” rating for the company in a report on Friday, March 29th.
In other Albemarle news, SVP Deeanne J. Marlow acquired 1,000 shares of the stock in a transaction dated Monday, May 13th. The stock was purchased at an average cost of $70.85 per share, for a total transaction of $70,850.00. Following the acquisition, the senior vice president now owns 1,000 shares in the company, valued at approximately $70,850. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Scott Tozier sold 2,961 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $91.00, for a total transaction of $269,451.00. Following the completion of the sale, the chief financial officer now owns 49,672 shares of the company’s stock, valued at $4,520,152. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Kinneret Advisory LLC bought a new stake in Albemarle during the 4th quarter valued at $100,000. Rothschild Investment Corp IL raised its holdings in Albemarle by 0.5% in the 4th quarter. Rothschild Investment Corp IL now owns 77,503 shares of the specialty chemicals company’s stock worth $5,973,000 after purchasing an additional 401 shares in the last quarter. SG Americas Securities LLC raised its holdings in Albemarle by 185.6% in the 4th quarter. SG Americas Securities LLC now owns 83,968 shares of the specialty chemicals company’s stock worth $6,471,000 after purchasing an additional 54,566 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Albemarle by 0.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 247,282 shares of the specialty chemicals company’s stock worth $19,058,000 after purchasing an additional 1,103 shares in the last quarter. Finally, Dana Investment Advisors Inc. raised its holdings in Albemarle by 29.3% in the 4th quarter. Dana Investment Advisors Inc. now owns 8,081 shares of the specialty chemicals company’s stock worth $623,000 after purchasing an additional 1,829 shares in the last quarter. Hedge funds and other institutional investors own 94.20% of the company’s stock.
Shares of NYSE:ALB traded up $0.16 on Thursday, reaching $69.74. 8,202 shares of the company’s stock were exchanged, compared to its average volume of 1,526,865. Albemarle has a twelve month low of $68.45 and a twelve month high of $108.74. The firm has a market cap of $7.41 billion, a PE ratio of 12.72, a PEG ratio of 0.71 and a beta of 1.56. The company has a quick ratio of 0.96, a current ratio of 1.55 and a debt-to-equity ratio of 0.36.
Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, May 8th. The specialty chemicals company reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.02. Albemarle had a net margin of 20.54% and a return on equity of 15.53%. The firm had revenue of $832.06 million for the quarter, compared to analyst estimates of $827.94 million. During the same quarter in the prior year, the business posted $1.30 EPS. The business’s revenue was up 1.3% compared to the same quarter last year. On average, research analysts expect that Albemarle will post 6.23 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.3675 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.47 dividend on an annualized basis and a yield of 2.11%. Albemarle’s dividend payout ratio is presently 26.82%.
Albemarle Company Profile
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, 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.
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