Albemarle (ALB) Downgraded by ValuEngine to “Hold”

ValuEngine cut shares of Albemarle (NYSE:ALB) from a buy rating to a hold rating in a report published on Friday.

Several other research firms have also commented on ALB. SunTrust Banks lowered shares of Albemarle from a buy rating to a hold rating and set a $121.00 price target for the company. in a report on Wednesday, August 9th. Vertical Research reissued a hold rating and set a $109.00 target price (up from $108.00) on shares of Albemarle in a research note on Thursday, August 10th. BidaskClub lowered shares of Albemarle from a buy rating to a hold rating in a research note on Saturday, August 12th. Oppenheimer started coverage on shares of Albemarle in a research note on Wednesday, August 16th. They set an outperform rating and a $133.00 target price for the company. Finally, CIBC started coverage on shares of Albemarle in a research note on Thursday, August 17th. They set an outperform rating and a $133.00 target price for the company. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $128.45.

Shares of Albemarle (ALB) opened at $129.35 on Friday. Albemarle has a one year low of $85.41 and a one year high of $144.99. The stock has a market cap of $14,601.99, a price-to-earnings ratio of 32.71, a P/E/G ratio of 2.00 and a beta of 1.69. The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 0.35.

Albemarle (NYSE:ALB) last released its earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. The company had revenue of $755.00 million during the quarter, compared to the consensus estimate of $732.19 million. Albemarle had a net margin of 30.07% and a return on equity of 11.61%. The company’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 EPS. analysts expect that Albemarle will post 4.46 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Thursday, December 14th. Albemarle’s dividend payout ratio is currently 16.56%.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Albemarle by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 12,501,329 shares of the specialty chemicals company’s stock worth $1,319,389,000 after purchasing an additional 213,530 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Albemarle by 21.4% in the 3rd quarter. Jennison Associates LLC now owns 7,797,076 shares of the specialty chemicals company’s stock worth $1,062,819,000 after purchasing an additional 1,375,546 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Albemarle by 258.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,561,987 shares of the specialty chemicals company’s stock worth $621,845,000 after purchasing an additional 3,287,989 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Albemarle by 69.2% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,661,821 shares of the specialty chemicals company’s stock worth $175,389,000 after purchasing an additional 679,453 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Albemarle by 95.3% in the 3rd quarter. Janus Henderson Group PLC now owns 1,595,684 shares of the specialty chemicals company’s stock worth $217,507,000 after purchasing an additional 778,649 shares in the last quarter. 87.96% of the stock is owned by institutional investors.

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Albemarle 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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