A number of other equities research analysts have also recently commented on ALB. Oppenheimer reaffirmed a buy rating on shares of Albemarle in a report on Wednesday, January 17th. Jefferies Group cut their price target on shares of Albemarle to $150.00 and set a buy rating for the company in a report on Friday, January 19th. UBS upgraded shares of Albemarle from a neutral rating to a buy rating and upped their target price for the stock from $113.00 to $150.00 in a research report on Tuesday, January 30th. Seaport Global Securities restated a hold rating and set a $130.00 target price on shares of Albemarle in a research report on Monday, February 5th. Finally, Argus started coverage on shares of Albemarle in a research report on Friday, February 23rd. They issued a buy rating and a $148.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $124.34.
Shares of Albemarle opened at $104.92 on Wednesday, according to MarketBeat.com. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.72 and a current ratio of 2.48. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 1.23 and a beta of 1.67. Albemarle has a 52-week low of $86.75 and a 52-week high of $144.99.
Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, May 9th. The specialty chemicals company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.10. Albemarle had a net margin of 4.27% and a return on equity of 13.80%. The company had revenue of $821.60 million during the quarter, compared to the consensus estimate of $798.20 million. During the same quarter in the prior year, the firm posted $1.05 earnings per share. Albemarle’s revenue for the quarter was up 13.8% on a year-over-year basis. analysts predict that Albemarle will post 5.26 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 15th will be paid a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, June 14th. Albemarle’s dividend payout ratio (DPR) is 29.19%.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Albemarle by 5.0% during the 1st quarter. BlackRock Inc. now owns 8,462,171 shares of the specialty chemicals company’s stock worth $784,785,000 after buying an additional 400,323 shares during the period. Jennison Associates LLC grew its holdings in Albemarle by 1.0% during the 4th quarter. Jennison Associates LLC now owns 7,876,682 shares of the specialty chemicals company’s stock worth $1,007,349,000 after acquiring an additional 79,606 shares in the last quarter. Iridian Asset Management LLC CT grew its holdings in Albemarle by 43.6% during the 1st quarter. Iridian Asset Management LLC CT now owns 1,985,826 shares of the specialty chemicals company’s stock worth $184,166,000 after acquiring an additional 602,784 shares in the last quarter. Global X Management Co. LLC grew its holdings in Albemarle by 7.7% during the 1st quarter. Global X Management Co. LLC now owns 1,622,819 shares of the specialty chemicals company’s stock worth $150,500,000 after acquiring an additional 115,858 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in Albemarle by 33.7% during the 1st quarter. Artisan Partners Limited Partnership now owns 1,557,135 shares of the specialty chemicals company’s stock worth $144,409,000 after acquiring an additional 392,519 shares in the last quarter. 84.73% of the stock is currently owned by hedge funds and other institutional investors.
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.
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