Albemarle Co. (ALB) Receives Consensus Rating of “Buy” from Brokerages
Albemarle Co. (NYSE:ALB) has been assigned a consensus recommendation of “Buy” from the eleven research firms that are covering the stock. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $119.88.
Several analysts have recently issued reports on ALB shares. Robert W. Baird boosted their price objective on shares of Albemarle to $125.00 in a research note on Wednesday, March 1st. Zacks Investment Research raised shares of Albemarle from a “hold” rating to a “buy” rating and set a $119.00 price objective for the company in a research note on Tuesday, March 21st. Jefferies Group LLC reissued a “buy” rating and set a $120.00 price objective (up from $105.00) on shares of Albemarle in a research note on Wednesday, March 1st. Aegis started coverage on shares of Albemarle in a research note on Friday, February 17th. They set a “buy” rating and a $108.00 price objective for the company. Finally, Instinet boosted their price objective on shares of Albemarle from $102.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, March 1st.
Albemarle (NYSE:ALB) traded up 0.55% on Friday, reaching $110.60. The company’s stock had a trading volume of 356,216 shares. The stock has a market capitalization of $12.25 billion, a P/E ratio of 26.88 and a beta of 1.41. Albemarle has a 52 week low of $74.35 and a 52 week high of $112.88. The firm has a 50 day moving average price of $107.53 and a 200 day moving average price of $96.17.
Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, May 3rd. The specialty chemicals company reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.10. Albemarle had a net margin of 6.92% and a return on equity of 14.38%. The company had revenue of $722.06 million during the quarter, compared to analysts’ expectations of $678.74 million. On average, equities analysts anticipate that Albemarle will post $4.36 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 15th will be issued a dividend of $0.32 per share. The ex-dividend date is Tuesday, June 13th. This represents a $1.28 annualized dividend and a dividend yield of 1.16%. Albemarle’s payout ratio is 63.54%.
Several institutional investors have recently bought and sold shares of ALB. Sumitomo Mitsui Trust Holdings Inc. raised its position in Albemarle by 5.8% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 345,337 shares of the specialty chemicals company’s stock valued at $29,523,000 after buying an additional 18,832 shares during the last quarter. World Asset Management Inc raised its position in Albemarle by 1.4% in the third quarter. World Asset Management Inc now owns 11,511 shares of the specialty chemicals company’s stock valued at $984,000 after buying an additional 159 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in Albemarle by 10.7% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 8,626 shares of the specialty chemicals company’s stock valued at $737,000 after buying an additional 832 shares during the last quarter. Huntington National Bank raised its position in Albemarle by 132.0% in the third quarter. Huntington National Bank now owns 11,578 shares of the specialty chemicals company’s stock valued at $990,000 after buying an additional 6,588 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Albemarle by 218.8% in the third quarter. Jennison Associates LLC now owns 4,147,707 shares of the specialty chemicals company’s stock worth $354,587,000 after buying an additional 2,846,734 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.
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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.
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