Several other equities analysts also recently commented on ALB. BMO Capital Markets cut their target price on Albemarle from $115.00 to $80.00 and set an outperform rating for the company in a research report on Monday, April 6th. Zacks Investment Research upgraded Albemarle from a sell rating to a hold rating and set a $67.00 price objective for the company in a research report on Monday, May 11th. Goldman Sachs Group downgraded Albemarle from a buy rating to a neutral rating and cut their price objective for the company from $67.00 to $61.00 in a research report on Tuesday, May 12th. Cfra cut their price objective on Albemarle from $100.00 to $70.00 and set a hold rating for the company in a research report on Friday, April 3rd. Finally, SunTrust Banks cut their price objective on Albemarle from $90.00 to $65.00 and set a hold rating for the company in a research report on Monday, May 11th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $74.23.
Shares of NYSE:ALB opened at $76.33 on Friday. Albemarle has a 1-year low of $48.89 and a 1-year high of $99.40. The firm has a market capitalization of $8.18 billion, a PE ratio of 16.00, a PEG ratio of 2.60 and a beta of 1.47. The business’s 50 day moving average is $73.53 and its 200-day moving average is $72.12. The company has a current ratio of 1.81, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77.
Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, May 6th. The specialty chemicals company reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.15. The business had revenue of $738.85 million during the quarter, compared to the consensus estimate of $769.26 million. Albemarle had a return on equity of 15.34% and a net margin of 14.50%. Albemarle’s revenue was down 11.2% on a year-over-year basis. During the same quarter last year, the company earned $1.23 EPS. On average, sell-side analysts predict that Albemarle will post 3.37 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be paid a $0.385 dividend. The ex-dividend date is Thursday, June 11th. This represents a $1.54 dividend on an annualized basis and a yield of 2.02%. Albemarle’s payout ratio is 25.50%.
A number of large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its stake in Albemarle by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 2,582,617 shares of the specialty chemicals company’s stock valued at $145,584,000 after acquiring an additional 120,444 shares during the period. Geode Capital Management LLC grew its stake in Albemarle by 6.2% in the first quarter. Geode Capital Management LLC now owns 1,785,289 shares of the specialty chemicals company’s stock valued at $100,455,000 after acquiring an additional 104,863 shares during the period. SPF Beheer BV lifted its holdings in shares of Albemarle by 12.6% in the first quarter. SPF Beheer BV now owns 1,248,607 shares of the specialty chemicals company’s stock valued at $70,810,000 after purchasing an additional 139,307 shares in the last quarter. KAMES CAPITAL plc lifted its holdings in shares of Albemarle by 39.3% in the first quarter. KAMES CAPITAL plc now owns 1,017,369 shares of the specialty chemicals company’s stock valued at $57,195,000 after purchasing an additional 287,073 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Albemarle in the fourth quarter valued at about $63,479,000. 92.57% of the stock is owned by hedge funds and other institutional investors.
Albemarle Company Profile
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, 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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