Albemarle Co. (NYSE:ALB) – Research analysts at Seaport Global Securities lowered their Q3 2018 EPS estimates for shares of Albemarle in a research report issued to clients and investors on Wednesday, May 16th. Seaport Global Securities analyst M. Harrison now expects that the specialty chemicals company will earn $1.19 per share for the quarter, down from their previous estimate of $1.28. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Albemarle’s Q4 2018 earnings at $1.47 EPS, FY2018 earnings at $5.26 EPS, Q1 2019 earnings at $1.49 EPS, Q2 2019 earnings at $1.49 EPS, Q4 2019 earnings at $1.68 EPS and FY2019 earnings at $6.15 EPS.
Albemarle (NYSE:ALB) last issued 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 firm had revenue of $821.60 million for the quarter, compared to analysts’ expectations of $798.20 million. Albemarle had a return on equity of 13.80% and a net margin of 4.27%. Albemarle’s revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business posted $1.05 EPS.
Shares of Albemarle opened at $104.80 on Thursday, according to Marketbeat. The stock has a market capitalization of $11.17 billion, a P/E ratio of 22.83, a P/E/G ratio of 1.18 and a beta of 1.67. Albemarle has a 1-year low of $101.15 and a 1-year high of $102.46. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.72 and a current ratio of 2.48.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 15th will be given a dividend of $0.335 per share. The ex-dividend date is Thursday, June 14th. This represents a $1.34 dividend on an annualized basis and a yield of 1.28%. Albemarle’s payout ratio is presently 29.19%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Atlantic Trust Group LLC boosted its position in Albemarle by 4.1% during the 1st quarter. Atlantic Trust Group LLC now owns 52,439 shares of the specialty chemicals company’s stock worth $4,864,000 after acquiring an additional 2,073 shares during the period. Robecosam AG lifted its holdings in shares of Albemarle by 108.6% during the 1st quarter. Robecosam AG now owns 390,000 shares of the specialty chemicals company’s stock valued at $36,169,000 after buying an additional 203,000 shares during the last quarter. SPF Beheer BV lifted its holdings in shares of Albemarle by 8.9% during the 1st quarter. SPF Beheer BV now owns 741,797 shares of the specialty chemicals company’s stock valued at $69,043,000 after buying an additional 60,716 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Albemarle by 127.4% during the 1st quarter. Millennium Management LLC now owns 55,898 shares of the specialty chemicals company’s stock valued at $5,184,000 after buying an additional 31,318 shares during the last quarter. Finally, WealthPLAN Partners LLC lifted its holdings in shares of Albemarle by 39.5% during the 1st quarter. WealthPLAN Partners LLC now owns 17,439 shares of the specialty chemicals company’s stock valued at $1,617,000 after buying an additional 4,940 shares during the last quarter. Hedge funds and other 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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