Albemarle Co. (NYSE:ALB) announced a quarterly dividend on Tuesday, May 4th, RTT News reports. Stockholders of record on Friday, June 11th will be paid a dividend of 0.39 per share by the specialty chemicals company on Thursday, July 1st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.96%.
Albemarle has increased its dividend payment by 20.3% over the last three years and has increased its dividend annually for the last 27 consecutive years.
Shares of Albemarle stock traded down $3.88 on Tuesday, reaching $162.11. The stock had a trading volume of 946,932 shares, compared to its average volume of 1,670,143. The company has a current ratio of 1.38, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average is $153.84 and its two-hundred day moving average is $145.56. The company has a market cap of $18.92 billion, a P/E ratio of 45.02, a price-to-earnings-growth ratio of 3.79 and a beta of 1.59. Albemarle has a 1 year low of $56.17 and a 1 year high of $188.35.
In other news, Director Luther C. Iv Kissam sold 15,478 shares of the business’s stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $152.26, for a total transaction of $2,356,680.28. Also, EVP Karen G. Narwold sold 1,478 shares of the company’s stock in a transaction on Tuesday, March 2nd. The shares were sold at an average price of $153.89, for a total value of $227,449.42. Following the completion of the transaction, the executive vice president now directly owns 43,695 shares in the company, valued at approximately $6,724,223.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,477 shares of company stock worth $2,818,196. 1.07% of the stock is owned by insiders.
A number of analysts have recently weighed in on ALB shares. Loop Capital raised Albemarle from a “hold” rating to a “buy” rating and increased their price objective for the company from $174.00 to $186.00 in a research note on Monday, March 8th. Evercore ISI raised Albemarle from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $160.00 to $200.00 in a research note on Monday, April 26th. Zacks Investment Research lowered Albemarle from a “hold” rating to a “sell” rating and set a $169.00 price target for the company. in a research note on Friday, March 12th. Royal Bank of Canada raised their price objective on Albemarle from $130.00 to $135.00 and gave the company an “underperform” rating in a research report on Monday, March 1st. Finally, Citigroup raised Albemarle from a “neutral” rating to a “buy” rating and set a $184.00 price objective for the company in a research report on Friday, February 12th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $131.26.
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine Specialties, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.
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