Equities Analysts Offer Predictions for Albemarle Corporation’s Q3 2017 Earnings (ALB)
Albemarle Corporation (NYSE:ALB) – Equities research analysts at Oppenheimer Holdings issued their Q3 2017 earnings estimates for Albemarle Corporation in a research report issued to clients and investors on Wednesday. Oppenheimer Holdings analyst C. Rusch expects that the specialty chemicals company will earn $1.06 per share for the quarter. Oppenheimer Holdings has a “Outperform” rating and a $133.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Albemarle Corporation’s Q4 2017 earnings at $1.14 EPS and FY2019 earnings at $5.41 EPS.
Several other analysts also recently issued reports on the stock. CIBC began coverage on shares of Albemarle Corporation in a research note on Thursday. They set an “outperform” rating and a $133.00 target price on the stock. BidaskClub cut shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Vertical Research restated a “hold” rating and set a $109.00 price target (up from $108.00) on shares of Albemarle Corporation in a report on Thursday, August 10th. SunTrust Banks, Inc. cut shares of Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 price objective for the company. in a report on Wednesday, August 9th. Finally, Zacks Investment Research cut shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $109.61.
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Shares of Albemarle Corporation (NYSE ALB) opened at 112.11 on Friday. The firm has a market cap of $12.39 billion, a PE ratio of 14.34 and a beta of 1.59. The stock’s 50 day moving average price is $114.49 and its 200 day moving average price is $107.23. Albemarle Corporation has a 12-month low of $75.11 and a 12-month high of $123.48.
Albemarle Corporation (NYSE:ALB) last posted its quarterly earnings data on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.02. Albemarle Corporation had a return on equity of 11.59% and a net margin of 31.49%. The business had revenue of $737.25 million for the quarter, compared to analysts’ expectations of $735.50 million. During the same quarter last year, the firm earned $0.93 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis.
A number of large investors have recently modified their holdings of ALB. Northwestern Mutual Wealth Management Co. increased its position in shares of Albemarle Corporation by 2.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock worth $102,000 after buying an additional 20 shares during the period. Carroll Financial Associates Inc. increased its position in shares of Albemarle Corporation by 0.3% in the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 3 shares during the period. Smithfield Trust Co. increased its position in shares of Albemarle Corporation by 16.1% in the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock worth $106,000 after buying an additional 140 shares during the period. Highlander Capital Management LLC purchased a new position in shares of Albemarle Corporation during the second quarter worth approximately $106,000. Finally, Advisory Services Network LLC increased its position in shares of Albemarle Corporation by 43.7% in the second quarter. Advisory Services Network LLC now owns 1,273 shares of the specialty chemicals company’s stock worth $134,000 after buying an additional 387 shares during the period. Hedge funds and other institutional investors own 86.22% of the company’s stock.
In other Albemarle Corporation news, CFO Scott Tozier sold 25,000 shares of Albemarle Corporation stock in a transaction on Friday, July 7th. The shares were sold at an average price of $110.13, for a total value of $2,753,250.00. Following the sale, the chief financial officer now directly owns 57,506 shares in the company, valued at approximately $6,333,135.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Luther C. Iv Kissam sold 50,000 shares of Albemarle Corporation stock in a transaction on Friday, July 7th. The shares were sold at an average price of $110.08, for a total transaction of $5,504,000.00. Following the completion of the sale, the chairman now owns 252,917 shares in the company, valued at $27,841,103.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 105,000 shares of company stock worth $11,499,850. Company insiders own 0.74% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.28 annualized dividend and a yield of 1.14%. Albemarle Corporation’s dividend payout ratio (DPR) is presently 16.41%.
About Albemarle Corporation
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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