Albemarle Co. (NYSE:ALB) Receives Consensus Recommendation of “Hold” from Analysts

Albemarle Co. (NYSE:ALB) has been assigned an average rating of “Hold” from the twenty-seven analysts that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $83.86.

A number of analysts have recently weighed in on ALB shares. Gabelli initiated coverage on Albemarle in a research report on Thursday, September 12th. They set a “buy” rating and a $109.00 price objective on the stock. Buckingham Research decreased their target price on Albemarle from $80.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Credit Suisse Group reissued a “buy” rating and set a $85.00 target price on shares of Albemarle in a research note on Friday, November 8th. Wells Fargo & Co cut their price target on Albemarle from $75.00 to $65.00 and set a “market perform” rating on the stock in a report on Friday, October 25th. Finally, Bank of America downgraded Albemarle from a “buy” rating to an “underperform” rating in a report on Monday, October 28th.

Shares of NYSE ALB traded up $0.62 during midday trading on Monday, hitting $64.30. The company’s stock had a trading volume of 1,200,760 shares, compared to its average volume of 1,491,148. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.39 and a quick ratio of 0.82. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 1.09 and a beta of 1.64. The business’s fifty day simple moving average is $65.67 and its two-hundred day simple moving average is $67.43. Albemarle has a 1 year low of $58.63 and a 1 year high of $93.14.

Albemarle (NYSE:ALB) last released its earnings results on Wednesday, November 6th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.04. Albemarle had a net margin of 16.27% and a return on equity of 15.94%. The company had revenue of $879.70 million for the quarter, compared to analyst estimates of $883.67 million. During the same period in the prior year, the business earned $1.31 EPS. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. Analysts anticipate that Albemarle will post 6.07 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.368 per share. This represents a $1.47 dividend on an annualized basis and a yield of 2.29%. This is an increase from Albemarle’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Thursday, December 12th. Albemarle’s payout ratio is 26.82%.

In other news, CEO Luther C. Iv Kissam sold 36,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $70.00, for a total transaction of $2,520,000.00. Following the completion of the transaction, the chief executive officer now directly owns 334,046 shares of the company’s stock, valued at approximately $23,383,220. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.02% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. NEXT Financial Group Inc increased its stake in Albemarle by 71.1% in the second quarter. NEXT Financial Group Inc now owns 433 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 180 shares during the last quarter. Oakworth Capital Inc. purchased a new stake in shares of Albemarle in the 2nd quarter valued at about $32,000. CWM LLC lifted its holdings in shares of Albemarle by 84.9% in the 3rd quarter. CWM LLC now owns 501 shares of the specialty chemicals company’s stock valued at $35,000 after purchasing an additional 230 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Albemarle by 215.6% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 587 shares of the specialty chemicals company’s stock valued at $41,000 after purchasing an additional 401 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of Albemarle in the 2nd quarter valued at about $51,000. 92.10% of the stock is currently owned by institutional investors and hedge funds.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications 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, life science, pharmaceutical, and other markets.

Read More: What is diluted earnings per share (Diluted EPS)?

Analyst Recommendations for Albemarle (NYSE:ALB)

Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.