Albemarle (NYSE:ALB) had its price objective cut by Jefferies Group to $150.00 in a research note issued to investors on Friday, The Fly reports. They currently have a buy rating on the specialty chemicals company’s stock.
ALB has been the topic of a number of other research reports. Robert W. Baird reiterated a hold rating and set a $135.00 target price on shares of Albemarle in a research report on Wednesday, November 1st. Nomura increased their target price on Albemarle from $146.00 to $154.00 and gave the company a buy rating in a research report on Tuesday, October 10th. Oppenheimer reissued a buy rating on shares of Albemarle in a research note on Wednesday, January 17th. Royal Bank of Canada reissued a buy rating and issued a $149.00 price objective on shares of Albemarle in a research note on Wednesday, October 18th. Finally, Deutsche Bank downgraded Albemarle from a buy rating to a hold rating in a research note on Tuesday, November 14th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $127.78.
Albemarle (NYSE:ALB) traded down $2.48 on Friday, hitting $113.53. 3,647,700 shares of the stock traded hands, compared to its average volume of 2,220,436. Albemarle has a 12-month low of $90.35 and a 12-month high of $144.99. The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $12,600.00, a P/E ratio of 40.55, a P/E/G ratio of 1.52 and a beta of 1.69.
Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. Albemarle had a net margin of 30.07% and a return on equity of 11.61%. The company had revenue of $755.00 million for the quarter, compared to the consensus estimate of $732.19 million. During the same quarter in the prior year, the company earned $0.91 EPS. Albemarle’s quarterly revenue was up 15.4% on a year-over-year basis. research analysts expect that Albemarle will post 4.46 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Thursday, December 14th. Albemarle’s dividend payout ratio (DPR) is presently 45.71%.
Institutional investors and hedge funds have recently modified their holdings of the business. Thompson Davis & CO. Inc. increased its stake in shares of Albemarle by 650.0% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock worth $102,000 after acquiring an additional 650 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Albemarle by 2.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock worth $102,000 after acquiring an additional 20 shares during the last quarter. Highlander Capital Management LLC acquired a new stake in shares of Albemarle in the 2nd quarter worth $106,000. Howe & Rusling Inc. increased its stake in shares of Albemarle by 2,038.0% in the 3rd quarter. Howe & Rusling Inc. now owns 1,069 shares of the specialty chemicals company’s stock worth $146,000 after acquiring an additional 1,019 shares during the last quarter. Finally, Advisory Services Network LLC increased its stake in shares of Albemarle by 43.7% in the 2nd quarter. Advisory Services Network LLC now owns 1,273 shares of the specialty chemicals company’s stock worth $134,000 after acquiring an additional 387 shares during the last quarter. 87.94% of the stock is owned by institutional investors and hedge funds.
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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