Albemarle (NYSE:ALB) released its earnings results on Wednesday. The specialty chemicals company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.06, Briefing.com reports. The business had revenue of $778.00 million for the quarter, compared to analyst estimates of $796.79 million. Albemarle had a return on equity of 14.51% and a net margin of 10.17%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 earnings per share. Albemarle updated its FY 2018 guidance to $5.30-5.50 EPS and its FY18 guidance to $5.30-5.50 EPS.
Shares of Albemarle stock traded down $2.12 during trading on Thursday, reaching $105.87. The company’s stock had a trading volume of 2,643,901 shares, compared to its average volume of 1,772,083. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.19 and a quick ratio of 1.55. Albemarle has a 12-month low of $86.75 and a 12-month high of $143.66. The company has a market cap of $11.69 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 1.41 and a beta of 1.53.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 14th will be paid a $0.335 dividend. The ex-dividend date is Thursday, December 13th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.27%. Albemarle’s dividend payout ratio (DPR) is presently 29.19%.
Institutional investors have recently bought and sold shares of the stock. Credit Agricole S A purchased a new stake in shares of Albemarle in the second quarter valued at approximately $123,000. SeaCrest Wealth Management LLC boosted its stake in shares of Albemarle by 145.9% in the second quarter. SeaCrest Wealth Management LLC now owns 1,692 shares of the specialty chemicals company’s stock valued at $160,000 after buying an additional 1,004 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Albemarle by 17,210.0% in the third quarter. Valeo Financial Advisors LLC now owns 1,731 shares of the specialty chemicals company’s stock valued at $171,000 after buying an additional 1,721 shares in the last quarter. Palladium Partners LLC purchased a new stake in Albemarle during the third quarter worth $205,000. Finally, GSA Capital Partners LLP purchased a new stake in Albemarle during the second quarter worth $212,000. Hedge funds and other institutional investors own 90.99% of the company’s stock.
A number of research analysts have recently issued reports on the company. SunTrust Banks raised Albemarle from a “hold” rating to a “buy” rating and boosted their target price for the company from $110.00 to $115.00 in a report on Tuesday, September 4th. Loop Capital set a $130.00 target price on Albemarle and gave the company a “buy” rating in a report on Monday, October 8th. Zacks Investment Research raised Albemarle from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a report on Tuesday, August 7th. ValuEngine lowered Albemarle from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 7th. Finally, Vertical Research assumed coverage on Albemarle in a report on Tuesday, September 25th. They issued a “sell” rating and a $85.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the company’s stock. Albemarle presently has a consensus rating of “Buy” and a consensus price target of $124.55.
Albemarle Company Profile
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.
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