Albemarle Corporation (NYSE:ALB) – Analysts at Jefferies Group increased their FY2017 earnings per share estimates for Albemarle Corporation in a note issued to investors on Monday. Jefferies Group analyst L. Alexander now anticipates that the specialty chemicals company will post earnings of $4.45 per share for the year, up from their previous estimate of $4.35. Jefferies Group currently has a “Buy” rating and a $162.00 price target on the stock. Jefferies Group also issued estimates for Albemarle Corporation’s Q4 2017 earnings at $1.19 EPS.

A number of other analysts also recently issued reports on the company. Vertical Research reaffirmed a “hold” rating and issued a $109.00 target price (up previously from $108.00) on shares of Albemarle Corporation in a research report on Thursday, August 10th. SunTrust Banks, Inc. downgraded Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 target price on the stock. in a research report on Wednesday, August 9th. UBS AG lifted their target price on Albemarle Corporation from $123.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, November 9th. BidaskClub downgraded Albemarle Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Loop Capital initiated coverage on Albemarle Corporation in a research report on Thursday, September 28th. They issued a “buy” rating and a $150.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $128.45.

TRADEMARK VIOLATION NOTICE: This article was first published by American Banking News and is owned by of American Banking News. If you are reading this article on another website, it was stolen and reposted in violation of United States & international copyright legislation. The correct version of this article can be read at https://www.americanbankingnews.com/2017/11/15/albemarle-corporation-alb-expected-to-post-fy2017-earnings-of-4-45-per-share.html.

Shares of Albemarle Corporation (ALB) opened at $137.65 on Wednesday. The company has a market capitalization of $15,841.75, a PE ratio of 35.49, a PEG ratio of 2.18 and a beta of 1.72. Albemarle Corporation has a twelve month low of $77.25 and a twelve month high of $144.99. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 0.35.

Albemarle Corporation (NYSE:ALB) last issued its quarterly earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. The company had revenue of $755.00 million for the quarter, compared to analyst estimates of $732.19 million. Albemarle Corporation had a return on equity of 11.61% and a net margin of 30.07%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, December 14th. Albemarle Corporation’s dividend payout ratio is presently 16.56%.

In other news, EVP Karen G. Narwold sold 11,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $115.95, for a total transaction of $1,333,425.00. Following the completion of the sale, the executive vice president now owns 36,620 shares in the company, valued at $4,246,089. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Matthew Juneau sold 5,397 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $115.77, for a total value of $624,810.69. Following the sale, the executive vice president now owns 360 shares of the company’s stock, valued at approximately $41,677.20. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Albemarle Corporation by 1.7% during the second quarter. Vanguard Group Inc. now owns 12,501,329 shares of the specialty chemicals company’s stock worth $1,319,389,000 after acquiring an additional 213,530 shares during the period. Jennison Associates LLC boosted its stake in shares of Albemarle Corporation by 21.4% in the third quarter. Jennison Associates LLC now owns 7,797,076 shares of the specialty chemicals company’s stock valued at $1,062,819,000 after buying an additional 1,375,546 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Albemarle Corporation by 258.1% in the third quarter. Bank of New York Mellon Corp now owns 4,561,987 shares of the specialty chemicals company’s stock valued at $621,845,000 after buying an additional 3,287,989 shares during the period. TIAA CREF Investment Management LLC boosted its stake in shares of Albemarle Corporation by 69.2% in the second quarter. TIAA CREF Investment Management LLC now owns 1,661,821 shares of the specialty chemicals company’s stock valued at $175,389,000 after buying an additional 679,453 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of Albemarle Corporation by 95.3% in the third quarter. Janus Henderson Group PLC now owns 1,595,684 shares of the specialty chemicals company’s stock valued at $217,507,000 after buying an additional 778,649 shares during the period. Institutional investors own 86.64% of the company’s stock.

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.

Earnings History and Estimates for Albemarle Corporation (NYSE:ALB)

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.