Albemarle Co. (NYSE:ALB) – Investment analysts at Seaport Global Securities upped their FY2018 earnings per share (EPS) estimates for shares of Albemarle in a report issued on Tuesday, Zacks Investment Research reports. Seaport Global Securities analyst M. Harrison now expects that the specialty chemicals company will post earnings of $5.12 per share for the year, up from their prior estimate of $5.03. Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Albemarle’s Q4 2018 earnings at $1.44 EPS.
Other research analysts have also issued research reports about the company. Loop Capital set a $130.00 price objective on Albemarle and gave the company a “buy” rating in a report on Friday, March 2nd. Citigroup lowered their price objective on Albemarle from $148.00 to $112.00 and set a “neutral” rating on the stock in a report on Thursday, March 1st. BMO Capital Markets reissued an “outperform” rating and set a $130.00 price objective (down previously from $160.00) on shares of Albemarle in a report on Friday, March 2nd. Argus assumed coverage on Albemarle in a report on Friday, February 23rd. They set a “buy” rating and a $148.00 price objective on the stock. Finally, Zacks Investment Research downgraded Albemarle from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Eight research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $128.07.
Shares of Albemarle (NYSE:ALB) traded up $0.45 during midday trading on Thursday, hitting $98.52. The stock had a trading volume of 495,092 shares, compared to its average volume of 2,499,781. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.57 and a current ratio of 2.06. The firm has a market cap of $11,100.35, a price-to-earnings ratio of 204.32, a price-to-earnings-growth ratio of 1.21 and a beta of 1.60. Albemarle has a fifty-two week low of $90.49 and a fifty-two week high of $144.99.
Albemarle (NYSE:ALB) last issued its earnings results on Tuesday, February 27th. The specialty chemicals company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.13. The company had revenue of $857.79 million for the quarter, compared to analyst estimates of $791.46 million. Albemarle had a return on equity of 13.27% and a net margin of 1.79%.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be given a $0.335 dividend. This is a positive change from Albemarle’s previous quarterly dividend of $0.32. This represents a $1.34 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Wednesday, March 14th. Albemarle’s dividend payout ratio (DPR) is currently 279.17%.
Several large investors have recently bought and sold shares of ALB. Bank of New York Mellon Corp boosted its position in shares of Albemarle by 258.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,561,987 shares of the specialty chemicals company’s stock worth $621,845,000 after purchasing an additional 3,287,989 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Albemarle by 21.4% in the 3rd quarter. Jennison Associates LLC now owns 7,797,076 shares of the specialty chemicals company’s stock worth $1,062,819,000 after purchasing an additional 1,375,546 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of Albemarle by 497.9% in the 4th quarter. Global X Management Co. LLC now owns 1,506,961 shares of the specialty chemicals company’s stock worth $192,725,000 after purchasing an additional 1,254,927 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Albemarle by 95.3% in the 3rd quarter. Janus Henderson Group PLC now owns 1,595,684 shares of the specialty chemicals company’s stock worth $217,507,000 after purchasing an additional 778,649 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of Albemarle by 98.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,307,904 shares of the specialty chemicals company’s stock worth $178,281,000 after purchasing an additional 650,158 shares during the last quarter. Institutional investors and hedge funds own 86.42% of the company’s stock.
Albemarle 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.
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