Albemarle Corporation (NYSE:ALB) – Investment analysts at Seaport Global Securities cut their Q3 2017 earnings per share 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 $1.05 per share for the quarter, down from their previous estimate of $1.08. Seaport Global Securities also issued estimates for Albemarle Corporation’s Q1 2018 earnings at $1.20 EPS, Q2 2018 earnings at $1.25 EPS, Q4 2018 earnings at $1.31 EPS and FY2018 earnings at $5.05 EPS.

Albemarle Corporation (NYSE:ALB) last announced its quarterly earnings data on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.02. Albemarle Corporation had a net margin of 31.49% and a return on equity of 11.59%. The company had revenue of $737.25 million during the quarter, compared to analysts’ expectations of $735.50 million. During the same quarter in the prior year, the company earned $0.93 EPS. The firm’s revenue was up 10.1% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: “Seaport Global Securities Comments on Albemarle Corporation’s Q3 2017 Earnings (ALB)” was first posted by Daily Political and is the property of of Daily Political. If you are reading this report on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright laws. The original version of this report can be read at https://www.dailypolitical.com/2017/08/11/seaport-global-securities-comments-on-albemarle-corporations-q3-2017-earnings-alb.html.

ALB has been the subject of several other reports. Morgan Stanley dropped their price objective on shares of Albemarle Corporation from $100.00 to $72.00 and set an “equal weight” rating for the company in a research note on Thursday, May 25th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $132.00 price objective on shares of Albemarle Corporation in a research note on Tuesday, April 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price objective on shares of Albemarle Corporation in a research note on Thursday, June 29th. Vertical Research reaffirmed a “hold” rating and set a $109.00 price objective (up from $108.00) on shares of Albemarle Corporation in a research note on Thursday. Finally, KeyCorp lifted their price objective on shares of Albemarle Corporation from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, June 12th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $106.69.

Shares of Albemarle Corporation (NYSE ALB) opened at 110.95 on Friday. The stock has a 50 day moving average of $113.60 and a 200-day moving average of $106.64. The stock has a market cap of $12.26 billion, a PE ratio of 14.19 and a beta of 1.59. Albemarle Corporation has a 52 week low of $75.11 and a 52 week high of $123.48.

Hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased 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 valued at $102,000 after buying an additional 20 shares during the last quarter. Carroll Financial Associates Inc. increased 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 valued at $103,000 after buying an additional 3 shares during the last quarter. Smithfield Trust Co. increased 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 valued at $106,000 after buying an additional 140 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased 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 valued at $154,000 after buying an additional 5 shares during the last quarter. Finally, Copper Rock Capital Partners LLC increased its stake in Albemarle Corporation by 303.3% in the second quarter. Copper Rock Capital Partners LLC now owns 1,944 shares of the specialty chemicals company’s stock valued at $167,000 after buying an additional 1,462 shares during the last quarter. Hedge funds and other institutional investors own 85.39% of the company’s stock.

In related news, CFO Scott Tozier sold 25,000 shares of Albemarle Corporation stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $110.13, for a total value of $2,753,250.00. Following the completion of the sale, the chief financial officer now directly owns 57,506 shares in the company, valued at $6,333,135.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas L. Maine sold 10,000 shares of Albemarle Corporation stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $107.94, for a total value of $1,079,400.00. Following the completion of the sale, the director now owns 24,150 shares of the company’s stock, valued at $2,606,751. 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 three months. Insiders own 0.74% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Thursday, September 14th. Albemarle Corporation’s dividend payout ratio is currently 16.41%.

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.

Earnings History and Estimates for Albemarle Corporation (NYSE:ALB)

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