Albemarle Co. Announces Quarterly Dividend of $0.39 (NYSE:ALB)

Albemarle Co. (NYSE:ALB) announced a quarterly dividend on Tuesday, May 4th, RTT News reports. Stockholders of record on Friday, June 11th will be paid a dividend of 0.39 per share by the specialty chemicals company on Thursday, July 1st. This represents a $1.56 annualized dividend and a dividend yield of 0.96%.

Albemarle has raised its dividend payment by 20.3% over the last three years and has raised its dividend every year for the last 27 years.

Shares of ALB stock traded down $3.88 during trading hours on Tuesday, hitting $162.11. 946,932 shares of the company were exchanged, compared to its average volume of 1,670,143. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.38. Albemarle has a one year low of $56.17 and a one year high of $188.35. The business’s 50-day simple moving average is $153.84 and its two-hundred day simple moving average is $145.56. The stock has a market capitalization of $18.92 billion, a price-to-earnings ratio of 45.02, a P/E/G ratio of 3.79 and a beta of 1.59.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Tuesday, February 16th. The specialty chemicals company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.10 by $0.07. Albemarle had a net margin of 11.77% and a return on equity of 11.96%. The business had revenue of $879.15 million for the quarter, compared to analysts’ expectations of $876.15 million. During the same quarter last year, the company posted $1.73 earnings per share. As a group, analysts anticipate that Albemarle will post 3.94 EPS for the current fiscal year.

In other Albemarle news, EVP Karen G. Narwold sold 1,478 shares of the business’s stock in a transaction dated Tuesday, March 2nd. The shares were sold at an average price of $153.89, for a total value of $227,449.42. Following the transaction, the executive vice president now directly owns 43,695 shares in the company, valued at $6,724,223.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Luther C. Iv Kissam sold 15,478 shares of the business’s stock in a transaction dated Wednesday, March 3rd. The shares were sold at an average price of $152.26, for a total transaction of $2,356,680.28. In the last ninety days, insiders sold 18,477 shares of company stock valued at $2,818,196. 1.07% of the stock is owned by company insiders.

A number of equities analysts have issued reports on the stock. Argus raised their target price on shares of Albemarle from $140.00 to $177.00 and gave the stock a “buy” rating in a report on Monday, March 1st. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell cut Albemarle from a “buy” rating to a “neutral” rating and lifted their price target for the company from $132.00 to $175.00 in a report on Wednesday, January 6th. Vertical Research upgraded shares of Albemarle from a “sell” rating to a “hold” rating in a research note on Monday, February 22nd. Cowen began coverage on shares of Albemarle in a research note on Monday, March 15th. They set an “outperform” rating and a $180.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Albemarle from a “hold” rating to a “buy” rating and raised their price objective for the company from $175.00 to $190.00 in a research note on Monday, February 15th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. Albemarle has an average rating of “Hold” and an average price target of $131.26.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine Specialties, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use 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 in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.

Further Reading: Capital Gains Distribution

Dividend History for Albemarle (NYSE:ALB)

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