Albemarle Co. (NYSE:ALB) declared a quarterly dividend on Tuesday, October 30th, RTT News reports. Stockholders of record on Friday, December 14th will be given a dividend of 0.335 per share by the specialty chemicals company on Wednesday, January 2nd. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, December 13th.
Albemarle has raised its dividend by an average of 5.9% annually over the last three years and has increased its dividend every year for the last 14 years. Albemarle has a payout ratio of 24.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Albemarle to earn $6.11 per share next year, which means the company should continue to be able to cover its $1.34 annual dividend with an expected future payout ratio of 21.9%.
NYSE ALB opened at $88.65 on Friday. Albemarle has a 1-year low of $86.75 and a 1-year high of $138.67. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.83. The firm has a market capitalization of $9.68 billion, a PE ratio of 17.17, a P/E/G ratio of 1.03 and a beta of 1.52.
Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, November 7th. The specialty chemicals company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.06. Albemarle had a net margin of 10.44% and a return on equity of 15.39%. The business had revenue of $778.00 million for the quarter, compared to the consensus estimate of $796.79 million. During the same period in the prior year, the business posted $1.08 earnings per share. Albemarle’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, sell-side analysts predict that Albemarle will post 5.43 EPS for the current year.
A number of equities research analysts recently issued reports on ALB shares. Vertical Group started coverage on shares of Albemarle in a report on Tuesday, September 25th. They issued a “sell” rating and a $85.00 price objective for the company. Zacks Investment Research upgraded shares of Albemarle from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Wednesday. ValuEngine upgraded shares of Albemarle from a “sell” rating to a “hold” rating in a report on Friday, September 21st. HSBC started coverage on shares of Albemarle in a report on Monday, December 3rd. They issued a “hold” rating and a $112.50 price objective for the company. Finally, Vertical Research started coverage on shares of Albemarle in a report on Tuesday, September 25th. They issued a “sell” rating and a $85.00 price objective for the company. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the stock. Albemarle has an average rating of “Buy” and a consensus price target of $122.43.
In related news, EVP Karen G. Narwold sold 3,100 shares of the stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $96.54, for a total value of $299,274.00. Following the completion of the transaction, the executive vice president now owns 27,142 shares of the company’s stock, valued at $2,620,288.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company’s stock.
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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