Albemarle Corporation (ALB) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Albemarle Corporation (NYSE:ALB) have been assigned an average rating of “Buy” from the nineteen brokerages that are covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $110.50.
ALB has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Oppenheimer Holdings, Inc. initiated coverage on shares of Albemarle Corporation in a research note on Wednesday, August 16th. They set an “outperform” rating and a $133.00 target price on the stock. Aegis restated a “buy” rating on shares of Albemarle Corporation in a research note on Friday, July 7th. Royal Bank Of Canada restated a “buy” rating and set a $136.00 target price on shares of Albemarle Corporation in a research note on Friday, July 14th. Finally, Jefferies Group LLC set a $144.00 price target on shares of Albemarle Corporation and gave the company a “buy” rating in a report on Monday, August 21st.
Shares of Albemarle Corporation (NYSE ALB) traded down 0.7308% on Tuesday, reaching $114.5864. The company had a trading volume of 414,521 shares. Albemarle Corporation has a 12 month low of $75.11 and a 12 month high of $123.48. The stock has a 50-day moving average price of $115.61 and a 200-day moving average price of $108.13. The stock has a market cap of $12.66 billion, a PE ratio of 14.6549 and a beta of 1.59.
Albemarle Corporation (NYSE:ALB) last issued its quarterly earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.02. The business had revenue of $737.25 million for the quarter, compared to analysts’ expectations of $735.50 million. Albemarle Corporation had a net margin of 31.49% and a return on equity of 11.59%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.93 EPS. Analysts predict that Albemarle Corporation will post $4.36 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.11%. Albemarle Corporation’s dividend payout ratio (DPR) is presently 16.41%.
In other news, Chairman Luther C. Iv Kissam sold 50,000 shares of the business’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $110.08, for a total value of $5,504,000.00. Following the sale, the chairman now directly owns 252,917 shares in the company, valued at approximately $27,841,103.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Matthew Juneau sold 5,397 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $115.77, for a total transaction of $624,810.69. Following the completion of the sale, the executive vice president now owns 360 shares in the company, valued at $41,677.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,897 shares of company stock worth $13,458,086. Insiders own 0.74% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Canada Pension Plan Investment Board increased its stake in Albemarle Corporation by 8.3% in the first quarter. Canada Pension Plan Investment Board now owns 161,494 shares of the specialty chemicals company’s stock worth $17,060,000 after buying an additional 12,384 shares during the period. Wells Fargo & Company MN increased its stake in Albemarle Corporation by 16.5% in the first quarter. Wells Fargo & Company MN now owns 676,925 shares of the specialty chemicals company’s stock worth $71,511,000 after buying an additional 95,837 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its stake in Albemarle Corporation by 13.0% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,760 shares of the specialty chemicals company’s stock worth $1,031,000 after buying an additional 1,123 shares during the period. Conning Inc. acquired a new stake in Albemarle Corporation during the first quarter worth $205,000. Finally, IFP Advisors Inc increased its stake in Albemarle Corporation by 12.6% in the first quarter. IFP Advisors Inc now owns 5,000 shares of the specialty chemicals company’s stock worth $528,000 after buying an additional 559 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.
WARNING: “Albemarle Corporation (ALB) Receives Consensus Recommendation of “Buy” from Analysts” was originally reported by American Banking News and is the property of of American Banking News. If you are reading this news story on another domain, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/08/29/albemarle-corporation-alb-receives-consensus-recommendation-of-buy-from-analysts.html.
Albemarle Corporation Company Profile
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.
Receive News & Ratings for Albemarle Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle Corporation and related companies with MarketBeat.com's FREE daily email newsletter.