Albemarle Corporation (ALB) Price Target Increased to $162.00 by Analysts at Jefferies Group LLC
Albemarle Corporation (NYSE:ALB) had its price objective increased by Jefferies Group LLC from $156.00 to $162.00 in a research note published on Tuesday morning. Jefferies Group LLC currently has a buy rating on the specialty chemicals company’s stock. Jefferies Group also issued estimates for Albemarle Corporation’s Q4 2017 earnings at $1.19 EPS and FY2017 earnings at $4.45 EPS.
ALB has been the topic of several other research reports. BidaskClub lowered Albemarle Corporation from a strong-buy rating to a buy rating in a research report on Tuesday, July 25th. Royal Bank Of Canada reissued a buy rating and set a $136.00 target price on shares of Albemarle Corporation in a research report on Wednesday, September 20th. Instinet raised their target price on Albemarle Corporation from $134.00 to $146.00 and gave the stock a buy rating in a research report on Monday, September 18th. KeyCorp reissued a buy rating and set a $125.00 target price on shares of Albemarle Corporation in a research report on Sunday, September 3rd. Finally, Loop Capital began coverage on Albemarle Corporation in a research report on Thursday, September 28th. They set a buy rating and a $150.00 target price on the stock. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Albemarle Corporation currently has a consensus rating of Buy and an average price target of $128.45.
Shares of Albemarle Corporation (NYSE:ALB) traded down $5.72 on Tuesday, hitting $137.65. The stock had a trading volume of 1,715,600 shares, compared to its average volume of 1,175,269. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 0.35. The stock has a market cap of $14,900.00, a PE ratio of 35.49, a PEG ratio of 2.18 and a beta of 1.72. Albemarle Corporation has a fifty-two week low of $77.25 and a fifty-two week high of $144.99.
Albemarle Corporation (NYSE:ALB) last announced its quarterly earnings data on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.01. The business had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $732.19 million. Albemarle Corporation had a return on equity of 11.61% and a net margin of 30.07%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. research analysts forecast that Albemarle Corporation will post 4.45 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, December 14th. Albemarle Corporation’s payout ratio is currently 45.71%.
In related news, EVP Matthew Juneau sold 5,397 shares of Albemarle Corporation stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $115.77, for a total value of $624,810.69. Following the sale, the executive vice president now directly owns 360 shares in the company, valued at $41,677.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Karen G. Narwold sold 11,500 shares of Albemarle Corporation stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $115.95, for a total value of $1,333,425.00. Following the completion of the sale, the executive vice president now owns 36,620 shares in the company, valued at $4,246,089. The disclosure for this sale can be found here. 0.74% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of ALB. Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 in the last quarter. Thompson Davis & CO. Inc. boosted its stake in shares of Albemarle Corporation by 650.0% in the third quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock valued at $102,000 after buying an additional 650 shares in the last quarter. Carroll Financial Associates Inc. boosted its stake in shares of 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 in the last quarter. Smithfield Trust Co. boosted its position in Albemarle Corporation by 16.1% during the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock worth $106,000 after purchasing an additional 140 shares in the last quarter. Finally, Highlander Capital Management LLC purchased a new stake in Albemarle Corporation during the second quarter worth $106,000. Hedge funds and other institutional investors own 86.64% 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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