Albemarle Co. (NYSE:ALB) has earned a consensus rating of “Buy” from the twenty-three research firms that are presently covering the firm, Marketbeat reports. Ten research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $129.53.
Several equities analysts have recently commented on ALB shares. Oppenheimer upped their price target on shares of Albemarle from $133.00 to $157.00 and gave the stock an “outperform” rating in a research report on Monday, October 16th. Deutsche Bank lowered shares of Albemarle from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. BMO Capital Markets assumed coverage on shares of Albemarle in a research note on Tuesday, October 24th. They set an “outperform” rating and a $160.00 price objective for the company. Nomura upped their price objective on shares of Albemarle to $159.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. Finally, Zacks Investment Research raised shares of Albemarle from a “hold” rating to a “buy” rating and set a $157.00 price target for the company in a research report on Tuesday, October 17th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALB. Northwestern Mutual Wealth Management Co. lifted its holdings in Albemarle by 2.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock worth $102,000 after acquiring an additional 20 shares during the period. Thompson Davis & CO. Inc. raised its stake in shares of Albemarle by 650.0% in the third quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock valued at $102,000 after buying an additional 650 shares during the period. Smithfield Trust Co. raised its stake in shares of Albemarle by 16.1% in the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock valued at $106,000 after buying an additional 140 shares during the period. Highlander Capital Management LLC bought a new stake in shares of Albemarle in the second quarter valued at $106,000. Finally, Advisory Services Network LLC raised its stake in shares of Albemarle by 43.7% in the second quarter. Advisory Services Network LLC now owns 1,273 shares of the specialty chemicals company’s stock valued at $134,000 after buying an additional 387 shares during the period. 87.96% of the stock is owned by institutional investors and hedge funds.
Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The business had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $732.19 million. Albemarle had a net margin of 30.07% and a return on equity of 11.61%. The business’s revenue for the quarter 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. analysts anticipate that Albemarle will post 4.46 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.28 annualized dividend and a yield of 1.00%. Albemarle’s dividend payout ratio is currently 16.56%.
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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