Equities research analysts expect that Albemarle Corporation (NYSE:ALB) will post sales of $740.14 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Albemarle Corporation’s earnings, with the highest sales estimate coming in at $765.00 million and the lowest estimate coming in at $716.68 million. Albemarle Corporation posted sales of $669.33 million during the same quarter last year, which would indicate a positive year over year growth rate of 10.6%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, August 2nd.
On average, analysts expect that Albemarle Corporation will report full-year sales of $740.14 million for the current financial year, with estimates ranging from $2.89 billion to $2.99 billion. For the next financial year, analysts forecast that the business will post sales of $3.14 billion per share, with estimates ranging from $2.98 billion to $3.27 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Albemarle Corporation.
Albemarle Corporation (NYSE:ALB) last announced its earnings results on Wednesday, May 3rd. The specialty chemicals company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.10. The company had revenue of $722.06 million for the quarter, compared to analyst estimates of $678.74 million. Albemarle Corporation had a return on equity of 11.97% and a net margin of 17.02%.
Several research analysts have weighed in on ALB shares. Zacks Investment Research upgraded Albemarle Corporation from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a report on Monday, March 27th. Robert W. Baird reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Albemarle Corporation in a research report on Sunday, April 9th. Morgan Stanley lowered their target price on Albemarle Corporation from $100.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 25th. Nomura reaffirmed a “buy” rating and issued a $124.00 target price on shares of Albemarle Corporation in a research report on Monday, May 15th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $132.00 target price on shares of Albemarle Corporation in a research report on Tuesday, April 18th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $114.08.
Albemarle Corporation (NYSE ALB) traded up 1.92% on Wednesday, reaching $106.48. The company had a trading volume of 519,789 shares. Albemarle Corporation has a 12 month low of $74.86 and a 12 month high of $116.64. The stock has a market capitalization of $11.79 billion, a price-to-earnings ratio of 25.88 and a beta of 1.52. The firm has a 50 day moving average price of $111.03 and a 200-day moving average price of $100.96.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Tuesday, June 13th. Albemarle Corporation’s payout ratio is currently 31.22%.
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In related news, EVP Karen G. Narwold sold 20,000 shares of Albemarle Corporation stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $108.16, for a total transaction of $2,163,200.00. Following the completion of the transaction, the executive vice president now owns 45,120 shares in the company, valued at $4,880,179.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Douglas L. Maine sold 10,000 shares of Albemarle Corporation stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $107.94, for a total value of $1,079,400.00. Following the transaction, the director now owns 24,150 shares of the company’s stock, valued at approximately $2,606,751. The disclosure for this sale can be found here. Company insiders own 0.74% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. boosted its position in Albemarle Corporation by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,454 shares of the specialty chemicals company’s stock worth $154,000 after buying an additional 5 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Albemarle Corporation by 18.7% in the first quarter. Van ECK Associates Corp now owns 1,614 shares of the specialty chemicals company’s stock worth $171,000 after buying an additional 254 shares in the last quarter. Cullinan Associates Inc. purchased a new stake in shares of Albemarle Corporation during the first quarter worth about $201,000. Conning Inc. purchased a new stake in shares of Albemarle Corporation during the first quarter worth about $205,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Albemarle Corporation by 3.5% in the first quarter. Pacer Advisors Inc. now owns 1,944 shares of the specialty chemicals company’s stock worth $205,000 after buying an additional 66 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.
Albemarle Corporation 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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