Brokerages Anticipate Albemarle Co. (ALB) Will Post Quarterly Sales of $889.93 Million

Wall Street analysts expect Albemarle Co. (NYSE:ALB) to report sales of $889.93 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Albemarle’s earnings. The highest sales estimate is $914.30 million and the lowest is $844.93 million. Albemarle reported sales of $857.79 million in the same quarter last year, which indicates a positive year over year growth rate of 3.7%. The company is expected to issue its next earnings results on Tuesday, February 26th.

On average, analysts expect that Albemarle will report full year sales of $3.37 billion for the current year, with estimates ranging from $3.30 billion to $3.51 billion. For the next fiscal year, analysts expect that the firm will post sales of $3.63 billion, with estimates ranging from $3.52 billion to $3.79 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Albemarle.

Albemarle (NYSE:ALB) last issued its quarterly earnings data on Wednesday, November 7th. The specialty chemicals company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.06. Albemarle had a net margin of 10.44% and a return on equity of 15.39%. The business had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $796.79 million. During the same period in the previous year, the company earned $1.08 earnings per share. Albemarle’s revenue for the quarter was up 3.0% on a year-over-year basis.

A number of brokerages recently issued reports on ALB. Zacks Investment Research cut Albemarle from a “buy” rating to a “hold” rating in a report on Tuesday, November 27th. Berenberg Bank cut Albemarle from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $120.00 to $78.11 in a report on Thursday, January 3rd. ValuEngine raised Albemarle from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Finally, Buckingham Research assumed coverage on Albemarle in a report on Thursday, November 15th. They issued a “neutral” rating and a $106.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $117.23.

ALB traded up $0.42 during trading on Thursday, reaching $77.26. 69,230 shares of the company were exchanged, compared to its average volume of 1,543,283. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 0.77 and a beta of 1.64. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.83. Albemarle has a 12-month low of $71.89 and a 12-month high of $135.81.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Friday, December 14th were issued a dividend of $0.335 per share. The ex-dividend date was Thursday, December 13th. This represents a $1.34 annualized dividend and a yield of 1.73%. Albemarle’s dividend payout ratio (DPR) is currently 29.19%.

In related news, CFO Scott Tozier sold 3,343 shares of the business’s stock in a transaction dated Friday, January 4th. The stock was sold at an average price of $74.55, for a total value of $249,220.65. Following the sale, the chief financial officer now directly owns 46,711 shares in the company, valued at $3,482,305.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Karen G. Narwold sold 1,295 shares of the company’s stock in a transaction that occurred on Friday, January 4th. The shares were sold at an average price of $74.76, for a total value of $96,814.20. Following the transaction, the executive vice president now directly owns 31,028 shares in the company, valued at approximately $2,319,653.28. The disclosure for this sale can be found here. Insiders have sold a total of 7,738 shares of company stock worth $645,309 in the last three months. 0.80% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board increased its stake in Albemarle by 615.7% during the second quarter. Canada Pension Plan Investment Board now owns 14,528 shares of the specialty chemicals company’s stock worth $1,370,000 after acquiring an additional 12,498 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Albemarle by 101.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 42,248 shares of the specialty chemicals company’s stock valued at $3,961,000 after purchasing an additional 21,325 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Albemarle during the 2nd quarter worth $212,000. Private Advisor Group LLC purchased a new stake in Albemarle in the second quarter valued at $359,000. Finally, Standard Life Aberdeen plc raised its holdings in shares of Albemarle by 32.1% in the second quarter. Standard Life Aberdeen plc now owns 25,866 shares of the specialty chemicals company’s stock valued at $2,440,000 after buying an additional 6,285 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

About Albemarle

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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