Albemarle Corporation (NYSE:ALB) – Equities researchers at Seaport Global Securities increased their FY2017 EPS estimates for Albemarle Corporation in a research note issued on Tuesday. Seaport Global Securities analyst M. Harrison now anticipates that the specialty chemicals company will earn $4.40 per share for the year, up from their previous forecast of $4.38. Seaport Global Securities also issued estimates for Albemarle Corporation’s Q4 2017 earnings at $1.17 EPS.
A number of other equities analysts also recently weighed in on ALB. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $132.00 price target on shares of Albemarle Corporation in a research note on Tuesday, April 18th. Zacks Investment Research downgraded shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a research note on Monday, April 24th. Nomura reaffirmed a “buy” rating and issued a $124.00 price target on shares of Albemarle Corporation in a research note on Friday, May 5th. Morgan Stanley dropped their price target on shares of Albemarle Corporation from $100.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 25th. Finally, KeyCorp upped their price objective on shares of Albemarle Corporation from $120.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, June 12th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $106.69.
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Albemarle Corporation (NYSE:ALB) opened at 109.36 on Thursday. The firm has a market cap of $12.08 billion, a PE ratio of 13.99 and a beta of 1.59. Albemarle Corporation has a 52 week low of $75.11 and a 52 week high of $123.48. The firm’s 50 day moving average price is $113.72 and its 200-day moving average price is $106.75.
Albemarle Corporation (NYSE:ALB) last issued its quarterly earnings data on Monday, August 7th. The specialty chemicals company reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.02. The company had revenue of $737.25 million for the quarter, compared to analysts’ expectations of $735.50 million. Albemarle Corporation had a return on equity of 11.59% and a net margin of 31.49%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.93 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 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 1.17%. The ex-dividend date of this dividend is Thursday, September 14th. Albemarle Corporation’s dividend payout ratio (DPR) is 16.41%.
In other Albemarle Corporation news, Chairman Luther C. Iv Kissam sold 50,000 shares of the company’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $110.08, for a total transaction of $5,504,000.00. Following the completion of the sale, the chairman now directly owns 252,917 shares in the company, valued at $27,841,103.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott Tozier sold 25,000 shares of the company’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $110.13, for a total transaction of $2,753,250.00. Following the sale, the chief financial officer now owns 57,506 shares of the company’s stock, valued at $6,333,135.78. The disclosure for this sale can be found here. Insiders have sold 105,000 shares of company stock valued at $11,499,850 over the last 90 days. Corporate insiders own 0.74% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its stake in Albemarle Corporation by 2.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock worth $102,000 after buying an additional 20 shares during the period. Carroll Financial Associates Inc. boosted its stake in Albemarle Corporation by 0.3% in the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 3 shares during the period. Smithfield Trust Co. boosted its stake in Albemarle Corporation by 16.1% in the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock worth $106,000 after buying an additional 140 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake 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 period. Finally, Van ECK Associates Corp boosted its stake in 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 during the period. Institutional investors own 85.39% 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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