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.

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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.

Analyst Recommendations for Albemarle Corporation (NYSE:ALB)

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