Albemarle (NYSE:ALB) had its target price upped by Jefferies Financial Group from $81.00 to $100.00 in a research note released on Thursday morning, BenzingaRatingsTable reports. Jefferies Financial Group currently has a buy rating on the specialty chemicals company’s stock.
A number of other equities analysts also recently commented on the stock. Deutsche Bank lifted their target price on shares of Albemarle from $65.00 to $80.00 and gave the stock a buy rating in a research note on Thursday, May 28th. KeyCorp downgraded shares of Albemarle from a sector weight rating to an underweight rating and set a $60.00 target price on the stock. in a research note on Monday, June 22nd. ValuEngine downgraded shares of Albemarle from a hold rating to a sell rating in a research note on Wednesday, April 15th. BMO Capital Markets reduced their target price on shares of Albemarle from $115.00 to $80.00 and set an outperform rating on the stock in a research note on Monday, April 6th. Finally, Zacks Investment Research raised shares of Albemarle from a sell rating to a hold rating and set a $67.00 target price on the stock in a research note on Monday, May 11th. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have given a buy rating to the company’s stock. Albemarle presently has a consensus rating of Hold and a consensus target price of $74.98.
NYSE:ALB opened at $82.46 on Thursday. The company’s 50-day moving average price is $80.39 and its 200-day moving average price is $74.06. The company has a current ratio of 1.81, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The company has a market cap of $8.77 billion, a P/E ratio of 17.29, a P/E/G ratio of 2.90 and a beta of 1.46. Albemarle has a twelve month low of $48.89 and a twelve month high of $99.40.
Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.15. The firm had revenue of $738.85 million for the quarter, compared to the consensus estimate of $769.26 million. Albemarle had a net margin of 14.50% and a return on equity of 15.34%. The company’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same period last year, the firm posted $1.23 earnings per share. On average, analysts expect that Albemarle will post 3.33 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 18th will be issued a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Thursday, September 17th. Albemarle’s dividend payout ratio (DPR) is currently 25.50%.
Hedge funds have recently made changes to their positions in the stock. Procyon Private Wealth Partners LLC acquired a new position in shares of Albemarle in the fourth quarter valued at approximately $30,000. Ellevest Inc. grew its holdings in shares of Albemarle by 133.2% in the second quarter. Ellevest Inc. now owns 492 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 281 shares in the last quarter. Exane Derivatives grew its holdings in shares of Albemarle by 137.3% in the first quarter. Exane Derivatives now owns 814 shares of the specialty chemicals company’s stock valued at $46,000 after purchasing an additional 471 shares in the last quarter. Reitz Capital Advisors LLC acquired a new position in shares of Albemarle in the second quarter valued at approximately $53,000. Finally, Synovus Financial Corp grew its holdings in shares of Albemarle by 34.6% in the first quarter. Synovus Financial Corp now owns 1,054 shares of the specialty chemicals company’s stock valued at $59,000 after purchasing an additional 271 shares in the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.
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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