Albemarle Corp. Announces Quarterly Dividend of $0.24 (ALB)
Albemarle Corp. (NYSE:ALB) announced a quarterly dividend on Monday, October 7th, Stock Ratings Network reports. Investors of record on Friday, December 13th will be paid a dividend of $0.24 per share on Thursday, January 2nd. This represents a $0.96 annualized dividend and a dividend yield of 1.50%.
Several analysts have recently commented on the stock. Analysts at Piper Jaffray Cos. downgraded shares of Albemarle Corp. from an “overweight” rating to a “neutral” rating in a research note to investors on Tuesday, September 24th. They now have a $65.00 price target on the stock, down previously from $69.00. On the ratings front, analysts at Jefferies Group raised their price target on shares of Albemarle Corp. from $74.00 to $78.00 in a research note to investors on Friday, August 9th. They now have a “buy” rating on the stock. Finally, analysts at Topeka Capital Markets initiated coverage on shares of Albemarle Corp. in a research note to investors on Wednesday, July 31st. They set a “hold” rating and a $61.88 price target on the stock. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. Albemarle Corp. has a consensus rating of “Hold” and a consensus target price of $81.06.
Albemarle Corp. (NYSE:ALB) opened at 64.14 on Tuesday. Albemarle Corp. has a 1-year low of $51.77 and a 1-year high of $69.03. The stock’s 50-day moving average is $62.96 and its 200-day moving average is $62.91. The company has a market cap of $5.219 billion and a P/E ratio of 18.19.
Albemarle Corp. (NYSE:ALB) last released its earnings data on Wednesday, July 17th. The company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by $0.01. The company had revenue of $634.20 million for the quarter, compared to the consensus estimate of $654.31 million. During the same quarter in the previous year, the company posted $1.24 earnings per share. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. Analysts expect that Albemarle Corp. will post $4.21 EPS for the current fiscal year.
Albemarle Corporation (NYSE:ALB) is a developer, manufacturer and marketer of specialty chemicals, which meet customer needs across a range of end markets, including the petroleum refining, consumer electronics, plastics/packaging, construction, automotive, lubricants, pharmaceuticals, crop protection, food-safety and custom chemistry services markets.
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