Albemarle Co. (NYSE:ALB) – Equities researchers at Seaport Global Securities upped their Q2 2018 earnings estimates for shares of Albemarle in a report issued on Wednesday, May 16th. Seaport Global Securities analyst M. Harrison now anticipates that the specialty chemicals company will post earnings per share of $1.30 for the quarter, up from their previous estimate of $1.23. Seaport Global Securities has a “Buy” rating on the stock.
Other equities research analysts also recently issued reports about the stock. Nomura dropped their price target on shares of Albemarle to $130.00 and set a “buy” rating for the company in a research note on Friday, May 11th. Citigroup raised shares of Albemarle from a “neutral” rating to a “buy” rating and set a $106.00 price target for the company in a research note on Friday, April 13th. TheStreet raised shares of Albemarle from a “c+” rating to a “b” rating in a research note on Wednesday, May 9th. BMO Capital Markets reissued an “outperform” rating and set a $130.00 price target (down from $160.00) on shares of Albemarle in a research note on Friday, March 2nd. Finally, Argus began coverage on shares of Albemarle in a research note on Friday, February 23rd. They set a “buy” rating and a $148.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $124.34.
ALB opened at $104.80 on Friday. The company has a quick ratio of 1.72, a current ratio of 2.48 and a debt-to-equity ratio of 0.36. The company has a market cap of $11.34 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67. Albemarle has a fifty-two week low of $101.15 and a fifty-two week high of $102.46.
Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, May 9th. The specialty chemicals company reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.10. The business had revenue of $821.60 million during the quarter, compared to the consensus estimate of $798.20 million. Albemarle had a net margin of 4.27% and a return on equity of 13.80%. Albemarle’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 15th will be issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, June 14th. Albemarle’s dividend payout ratio is currently 29.19%.
Several institutional investors have recently added to or reduced their stakes in the company. Texas Yale Capital Corp. boosted its holdings in shares of Albemarle by 12.9% in the first quarter. Texas Yale Capital Corp. now owns 4,950 shares of the specialty chemicals company’s stock valued at $459,000 after buying an additional 565 shares during the period. ETRADE Capital Management LLC boosted its holdings in shares of Albemarle by 26.3% in the first quarter. ETRADE Capital Management LLC now owns 2,743 shares of the specialty chemicals company’s stock valued at $254,000 after buying an additional 571 shares during the period. Dupont Capital Management Corp boosted its holdings in shares of Albemarle by 81.6% in the first quarter. Dupont Capital Management Corp now owns 1,358 shares of the specialty chemicals company’s stock valued at $126,000 after buying an additional 610 shares during the period. Norinchukin Bank The boosted its holdings in shares of Albemarle by 7.5% in the fourth quarter. Norinchukin Bank The now owns 8,835 shares of the specialty chemicals company’s stock valued at $1,130,000 after buying an additional 613 shares during the period. Finally, Belpointe Asset Management LLC boosted its holdings in shares of Albemarle by 13.4% in the fourth quarter. Belpointe Asset Management LLC now owns 5,415 shares of the specialty chemicals company’s stock valued at $693,000 after buying an additional 640 shares during the period. Institutional investors own 84.73% of the company’s stock.
Albemarle Company Profile
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, 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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