Shares of Albemarle Co. (NYSE:ALB) have earned an average recommendation of “Buy” from the twenty-three research firms that are presently covering the stock, MarketBeat.com reports. Ten investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $129.53.
ALB has been the subject of a number of research analyst reports. Loop Capital initiated coverage on shares of Albemarle in a research report on Thursday, September 28th. They set a “buy” rating and a $150.00 price objective for the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $149.00 price objective on shares of Albemarle in a research report on Wednesday, October 18th. KeyCorp reissued a “buy” rating and issued a $125.00 target price on shares of Albemarle in a research report on Sunday, September 3rd. Nomura boosted their target price on shares of Albemarle from $146.00 to $154.00 and gave the company a “buy” rating in a research report on Tuesday, October 10th. Finally, Robert W. Baird reissued a “hold” rating and issued a $135.00 target price on shares of Albemarle in a research report on Wednesday, November 1st.
Albemarle (NYSE:ALB) traded up $1.52 during mid-day trading on Thursday, reaching $130.60. 1,553,111 shares of the company’s stock were exchanged, compared to its average volume of 1,167,718. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.56 and a current ratio of 2.11. Albemarle has a 1 year low of $85.60 and a 1 year high of $144.99. The company has a market capitalization of $14,430.78, a PE ratio of 32.33, a price-to-earnings-growth ratio of 1.98 and a beta of 1.69.
Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $732.19 million. During the same period in the previous year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. research analysts expect that Albemarle will post 4.46 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Thursday, December 14th. Albemarle’s payout ratio is currently 16.56%.
Institutional investors have recently made changes to their positions in the company. Energy Opportunities Capital Management LLC bought a new position in Albemarle in the 3rd quarter worth about $1,413,000. Aldebaran Financial Inc. bought a new stake in shares of Albemarle during the 3rd quarter valued at about $2,747,000. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Albemarle by 30,562.5% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 4,906 shares of the specialty chemicals company’s stock valued at $669,000 after buying an additional 4,890 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in shares of Albemarle during the 3rd quarter valued at about $651,000. Finally, IFM Investors Pty Ltd purchased a new position in shares of Albemarle during the 3rd quarter valued at about $478,000. 87.96% of the stock is owned by hedge funds and other institutional investors.
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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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