Albemarle Corporation (NYSE:ALB) – Analysts at KeyCorp increased their FY2017 earnings estimates for shares of Albemarle Corporation in a note issued to investors on Thursday. KeyCorp analyst M. Sison now forecasts that the specialty chemicals company will post earnings of $4.45 per share for the year, up from their previous forecast of $4.35. KeyCorp has a “Buy” rating and a $150.00 price target on the stock. KeyCorp also issued estimates for Albemarle Corporation’s Q4 2017 earnings at $1.19 EPS and FY2018 earnings at $5.10 EPS.
Albemarle Corporation (NYSE:ALB) last announced its earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. Albemarle Corporation had a return on equity of 11.61% and a net margin of 30.07%. The firm had revenue of $755.00 million for the quarter, compared to analyst estimates of $732.19 million. During the same quarter last year, the firm posted $0.91 EPS. The business’s revenue was up 15.4% on a year-over-year basis. ILLEGAL ACTIVITY WARNING: “Research Analysts Issue Forecasts for Albemarle Corporation’s FY2017 Earnings (ALB)” was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US and international copyright and trademark laws. The correct version of this piece of content can be read at https://ledgergazette.com/2017/11/13/research-analysts-issue-forecasts-for-albemarle-corporations-fy2017-earnings-alb-2.html.
Other research analysts have also issued research reports about the company. Royal Bank Of Canada increased their target price on Albemarle Corporation from $149.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday. CIBC initiated coverage on Albemarle Corporation in a research note on Thursday, August 17th. They issued an “outperform” rating and a $133.00 price objective for the company. Jefferies Group LLC reissued a “buy” rating on shares of Albemarle Corporation in a research note on Tuesday, October 24th. SunTrust Banks, Inc. downgraded Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 price objective for the company. in a research note on Wednesday, August 9th. Finally, BidaskClub downgraded Albemarle Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $128.15.
Albemarle Corporation (NYSE:ALB) opened at $140.62 on Monday. Albemarle Corporation has a 52-week low of $76.32 and a 52-week high of $144.99. The stock has a market capitalization of $15,537.89, a P/E ratio of 34.81, a PEG ratio of 2.14 and a beta of 1.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.56 and a current ratio of 2.11.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its position in Albemarle Corporation 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 buying an additional 20 shares during the period. Thompson Davis & CO. Inc. increased its position in Albemarle Corporation by 650.0% during the third quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock worth $102,000 after buying an additional 650 shares during the period. Carroll Financial Associates Inc. increased its position in Albemarle Corporation by 0.3% during the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 3 shares during the period. Smithfield Trust Co. increased its position in Albemarle Corporation by 16.1% during the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock worth $106,000 after buying an additional 140 shares during the period. Finally, Highlander Capital Management LLC acquired a new position in shares of Albemarle Corporation in the second quarter valued at approximately $106,000. 86.64% of the stock is currently owned by institutional investors.
In other news, EVP Karen G. Narwold sold 11,500 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $115.95, for a total transaction of $1,333,425.00. Following the sale, the executive vice president now owns 36,620 shares of the company’s stock, valued at approximately $4,246,089. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Matthew Juneau sold 5,397 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $115.77, for a total value of $624,810.69. Following the sale, the executive vice president now directly owns 360 shares in the company, valued at approximately $41,677.20. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Thursday, December 14th. Albemarle Corporation’s dividend payout ratio (DPR) is presently 16.56%.
About Albemarle Corporation
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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