Albemarle Corp. (ALB) Declares Quarterly Dividend of $0.28
Albemarle Corp. (NYSE:ALB) declared a quarterly dividend on Tuesday, February 25th, American Banking & Market News reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.275 per share on Tuesday, April 1st. This represents a $1.10 dividend on an annualized basis and a yield of 1.72%.
A number of research firms have recently commented on ALB. Analysts at Zacks downgraded shares of Albemarle Corp. from a “neutral” rating to an “underperform” rating in a research note on Tuesday, February 4th. They now have a $62.60 price target on the stock. On a related note, analysts at Bank of America upgraded shares of Albemarle Corp. to a “buy” rating in a research note on Thursday, January 9th. Finally, analysts at Robert W. Baird upgraded shares of Albemarle Corp. from a “neutral” rating to a “buy” rating in a research note on Thursday, January 9th. They now have a $71.00 price target on the stock, up previously from $57.00. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Albemarle Corp. currently has an average rating of “Hold” and an average price target of $83.95.
Albemarle Corp. (NYSE:ALB) traded up 0.69% during mid-day trading on Tuesday, hitting $64.28. The stock had a trading volume of 481,058 shares. Albemarle Corp. has a 1-year low of $56.64 and a 1-year high of $70.00. The stock’s 50-day moving average is $64.55 and its 200-day moving average is $64.92. The company has a market cap of $5.221 billion and a P/E ratio of 13.03.
Albemarle Corp. (NYSE:ALB) last announced its earnings results on Wednesday, January 29th. The company reported $1.08 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.21 by $0.13. The company had revenue of $692.00 million for the quarter, compared to the consensus estimate of $688.58 million. During the same quarter in the prior year, the company posted $1.17 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts predict that Albemarle Corp. will post $4.39 earnings per share 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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