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%.

ILLEGAL ACTIVITY NOTICE: This article was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this article can be accessed at https://www.thecerbatgem.com/2016/11/23/analysts-set-albemarle-corp-alb-price-target-at-77-13.html.

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.

5 Day Chart for NYSE:ALB

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