Albemarle Corporation (NYSE:ALB) had its price target upped by UBS AG from $123.00 to $150.00 in a research note published on Thursday, 99wallstreet.com reports. They currently have a neutral rating on the specialty chemicals company’s stock.
ALB has been the topic of several other research reports. Robert W. Baird reaffirmed a hold rating and issued a $135.00 price target on shares of Albemarle Corporation in a research note on Wednesday, November 1st. Zacks Investment Research raised Albemarle Corporation from a hold rating to a buy rating and set a $157.00 price target on the stock in a research note on Tuesday, October 17th. Goldman Sachs Group, Inc. (The) lowered Albemarle Corporation from a buy rating to a neutral rating and upped their price target for the company from $139.66 to $142.00 in a research note on Friday, October 6th. Royal Bank Of Canada reaffirmed a buy rating and issued a $149.00 price target on shares of Albemarle Corporation in a research note on Wednesday, October 18th. Finally, Instinet reaffirmed a buy rating and issued a $154.00 price target (up previously from $146.00) on shares of Albemarle Corporation in a research note on Friday, October 13th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $128.15.
Albemarle Corporation (NYSE ALB) traded down $0.22 during midday trading on Thursday, reaching $140.62. The company’s stock had a trading volume of 1,056,300 shares, compared to its average volume of 1,344,476. The firm has a market capitalization of $15,537.95, a price-to-earnings ratio of 34.81, a P/E/G ratio of 2.16 and a beta of 1.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.11 and a quick ratio of 1.67. Albemarle Corporation has a one year low of $76.32 and a one year high of $144.99.
Albemarle Corporation (NYSE:ALB) last released its quarterly earnings data on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.01. The company had revenue of $755.00 million for the quarter, compared to analyst estimates of $732.19 million. Albemarle Corporation had a return on equity of 11.61% and a net margin of 30.07%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 earnings per share. equities research analysts predict that Albemarle Corporation will post 4.45 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be issued a $0.32 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.28 annualized dividend and a dividend yield of 0.91%. Albemarle Corporation’s dividend payout ratio is presently 16.56%.
In other Albemarle Corporation news, EVP Karen G. Narwold sold 11,500 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $115.95, for a total transaction of $1,333,425.00. Following the sale, the executive vice president now owns 36,620 shares in the company, valued at approximately $4,246,089. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Matthew Juneau sold 5,397 shares of the company’s stock in a transaction dated 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 owns 360 shares in the company, valued at approximately $41,677.20. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dai Ichi Life Insurance Company Ltd increased its holdings in Albemarle Corporation by 161.3% during the 3rd quarter. Dai Ichi Life Insurance Company Ltd now owns 55,493 shares of the specialty chemicals company’s stock worth $7,564,000 after purchasing an additional 34,252 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Albemarle Corporation by 9.2% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,984 shares of the specialty chemicals company’s stock worth $1,225,000 after purchasing an additional 756 shares during the period. JPMorgan Chase & Co. increased its holdings in Albemarle Corporation by 113.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 975,732 shares of the specialty chemicals company’s stock worth $129,109,000 after purchasing an additional 518,990 shares during the period. Legal & General Group Plc increased its holdings in Albemarle Corporation by 6.7% during the 3rd quarter. Legal & General Group Plc now owns 580,347 shares of the specialty chemicals company’s stock worth $79,100,000 after purchasing an additional 36,342 shares during the period. Finally, Eagle Boston Investment Management Inc. increased its holdings in Albemarle Corporation by 4.0% during the 3rd quarter. Eagle Boston Investment Management Inc. now owns 13,422 shares of the specialty chemicals company’s stock worth $1,833,000 after purchasing an additional 521 shares during the period. Institutional investors own 83.82% of the company’s stock.
About Albemarle Corporation
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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