Analysts Set Albemarle Corp. (ALB) Price Target at $77.13
Shares of Albemarle Corp. (NYSE:ALB) have received an average rating of “Buy” from the thirteen analysts that are currently covering the stock. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $79.00.
A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Albemarle Corp. from a “sell” rating to a “hold” rating in a research note on Monday, October 10th. Nomura set a $92.00 price target on shares of Albemarle Corp. and gave the company a “buy” rating in a research note on Tuesday, August 23rd. Deutsche Bank AG upped their price target on shares of Albemarle Corp. from $94.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Finally, Citigroup Inc. upped their price target on shares of Albemarle Corp. from $95.00 to $101.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th.
Several hedge funds have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. boosted its stake in Albemarle Corp. by 0.3% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,443 shares of the company’s stock valued at $123,000 after buying an additional 5 shares during the period. Eqis Capital Management Inc. raised its position in Albemarle Corp. by 0.3% in the second quarter. Eqis Capital Management Inc. now owns 3,365 shares of the company’s stock valued at $267,000 after buying an additional 11 shares in the last quarter. Genesee Valley Trust Co. raised its position in Albemarle Corp. by 0.4% in the second quarter. Genesee Valley Trust Co. now owns 3,322 shares of the company’s stock valued at $263,000 after buying an additional 12 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in Albemarle Corp. by 2.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 2,850 shares of the company’s stock valued at $203,000 after buying an additional 70 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in Albemarle Corp. by 0.6% in the third quarter. CIBC Asset Management Inc now owns 13,050 shares of the company’s stock valued at $1,116,000 after buying an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.
Shares of Albemarle Corp. (NYSE:ALB) opened at 84.30 on Friday. The firm’s 50-day moving average is $82.27 and its 200 day moving average is $81.28. Albemarle Corp. has a 12 month low of $45.78 and a 12 month high of $87.29. The firm has a market capitalization of $9.48 billion, a P/E ratio of 44.14 and a beta of 1.52.
Albemarle Corp. (NYSE:ALB) last released its earnings results on Monday, November 7th. The company reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.10. Albemarle Corp. had a net margin of 6.92% and a return on equity of 14.38%. The firm earned $654 million during the quarter, compared to the consensus estimate of $645.81 million. During the same period in the prior year, the firm earned $0.90 EPS. The company’s revenue was down 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that Albemarle Corp. will post $3.52 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 2nd. Stockholders of record on Thursday, December 15th will be given a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Tuesday, December 13th. Albemarle Corp.’s dividend payout ratio (DPR) is currently 63.54%.
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About Albemarle Corp.
Albemarle Corporation is a developer, manufacturer and marketer of specialty chemicals across a range of end markets, including the petroleum refining, consumer electronics, energy storage, construction, automotive, steel and aerospace, lubricants, pharmaceuticals, heating, ventilation, and aluminum finishing.
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