Albemarle Co. (NYSE:ALB) Receives Consensus Rating of “Buy” from Brokerages

Albemarle Co. (NYSE:ALBGet Rating) has been given a consensus recommendation of “Hold” by the twenty-two research firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $278.65.

A number of brokerages recently issued reports on ALB. StockNews.com upgraded Albemarle from a “sell” rating to a “hold” rating in a research report on Friday, May 6th. TheStreet upgraded Albemarle from a “c+” rating to a “b” rating in a research report on Wednesday, May 4th. Oppenheimer raised their price target on Albemarle from $307.00 to $368.00 in a research report on Friday, May 6th. Deutsche Bank Aktiengesellschaft raised their price target on Albemarle from $290.00 to $320.00 in a research report on Tuesday. Finally, Robert W. Baird lowered their price target on Albemarle from $245.00 to $228.00 in a research report on Tuesday, February 22nd.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kozak & Associates Inc. bought a new stake in shares of Albemarle in the third quarter worth about $27,000. Lowe Wealth Advisors LLC bought a new stake in shares of Albemarle in the first quarter worth about $28,000. City State Bank bought a new stake in shares of Albemarle in the fourth quarter worth about $29,000. Covestor Ltd grew its stake in shares of Albemarle by 51.2% in the first quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 44 shares during the last quarter. Finally, Salem Investment Counselors Inc. lifted its holdings in Albemarle by 127.3% in the fourth quarter. Salem Investment Counselors Inc. now owns 125 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 70 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Shares of NYSE:ALB traded up $15.87 during trading on Friday, hitting $270.92. 1,950,551 shares of the company were exchanged, compared to its average volume of 1,197,867. The company has a market cap of $31.73 billion, a PE ratio of 113.83, a P/E/G ratio of 0.84 and a beta of 1.55. The stock has a 50 day moving average of $218.01 and a 200 day moving average of $224.63. Albemarle has a 52-week low of $157.82 and a 52-week high of $291.48. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.11 and a quick ratio of 0.63.

Albemarle (NYSE:ALBGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The specialty chemicals company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.65. Albemarle had a return on equity of 10.35% and a net margin of 7.76%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the business posted $1.10 earnings per share. The firm’s revenue was up 36.0% compared to the same quarter last year. Sell-side analysts forecast that Albemarle will post 11.11 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 10th will be paid a $0.395 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $1.58 annualized dividend and a dividend yield of 0.58%. Albemarle’s payout ratio is presently 66.39%.

Albemarle Company Profile (Get Rating)

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, 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.

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Analyst Recommendations for Albemarle (NYSE:ALB)

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