Brokerages expect Albemarle Co. (NYSE:ALB) to post sales of $999.64 million for the current quarter, according to Zacks. Four analysts have issued estimates for Albemarle’s earnings, with the highest sales estimate coming in at $1.05 billion and the lowest estimate coming in at $929.86 million. Albemarle reported sales of $921.70 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.5%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, February 19th.
On average, analysts expect that Albemarle will report full-year sales of $3.59 billion for the current year, with estimates ranging from $3.53 billion to $3.64 billion. For the next year, analysts expect that the firm will report sales of $3.51 billion, with estimates ranging from $3.39 billion to $3.57 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Albemarle.
Albemarle (NYSE:ALB) last released its earnings results on Wednesday, November 6th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.04. Albemarle had a net margin of 16.27% and a return on equity of 15.94%. The business had revenue of $879.70 million for the quarter, compared to analyst estimates of $883.67 million. During the same quarter in the previous year, the business earned $1.31 earnings per share. Albemarle’s revenue for the quarter was up 13.1% on a year-over-year basis.
In other news, CEO Luther C. Iv Kissam sold 36,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $70.00, for a total transaction of $2,520,000.00. Following the completion of the sale, the chief executive officer now directly owns 334,046 shares of the company’s stock, valued at $23,383,220. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.02% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Albemarle by 1.1% during the second quarter. Vanguard Group Inc. now owns 12,741,734 shares of the specialty chemicals company’s stock worth $897,145,000 after acquiring an additional 137,085 shares in the last quarter. BlackRock Inc. grew its position in Albemarle by 9.0% in the 2nd quarter. BlackRock Inc. now owns 8,304,153 shares of the specialty chemicals company’s stock worth $584,695,000 after purchasing an additional 682,231 shares in the last quarter. State Street Corp grew its position in Albemarle by 6.1% in the 3rd quarter. State Street Corp now owns 7,256,385 shares of the specialty chemicals company’s stock worth $507,101,000 after purchasing an additional 417,021 shares in the last quarter. Primecap Management Co. CA grew its position in Albemarle by 30.8% in the 2nd quarter. Primecap Management Co. CA now owns 5,777,880 shares of the specialty chemicals company’s stock worth $406,821,000 after purchasing an additional 1,362,000 shares in the last quarter. Finally, Baillie Gifford & Co. grew its position in Albemarle by 1.7% in the 2nd quarter. Baillie Gifford & Co. now owns 2,685,713 shares of the specialty chemicals company’s stock worth $189,101,000 after purchasing an additional 45,809 shares in the last quarter. 92.09% of the stock is owned by institutional investors.
Shares of NYSE ALB opened at $65.67 on Thursday. The firm’s 50-day moving average price is $65.41 and its 200-day moving average price is $67.36. Albemarle has a 1-year low of $58.63 and a 1-year high of $93.14. The firm has a market capitalization of $6.92 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.07 and a beta of 1.64. The company has a current ratio of 1.39, a quick ratio of 0.82 and a debt-to-equity ratio of 0.34.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.368 per share. The ex-dividend date of this dividend is Thursday, December 12th. This is an increase from Albemarle’s previous quarterly dividend of $0.37. This represents a $1.47 annualized dividend and a dividend yield of 2.24%. Albemarle’s payout ratio is presently 26.82%.
Albemarle Company Profile
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.
Read More: Buy Rating
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