Shares of Albemarle Corporation (NYSE:ALB) have earned an average rating of “Buy” from the nineteen brokerages that are currently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $110.50.

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley cut their price objective on shares of Albemarle Corporation from $100.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday, May 25th. BidaskClub downgraded shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Jefferies Group LLC set a $144.00 price objective on shares of Albemarle Corporation and gave the company a “buy” rating in a research report on Monday, August 21st. Needham & Company LLC reissued a “buy” rating and set a $36.00 price objective on shares of Albemarle Corporation in a research report on Thursday, June 29th. Finally, Vertical Research reissued a “hold” rating and set a $109.00 price objective (up previously from $108.00) on shares of Albemarle Corporation in a research report on Thursday, August 10th.

Albemarle Corporation (ALB) traded up 2.0300% during trading on Tuesday, hitting $118.6201. The stock had a trading volume of 673,771 shares. The company has a 50-day moving average price of $115.90 and a 200-day moving average price of $108.75. The company has a market cap of $13.10 billion, a price-to-earnings ratio of 15.1708 and a beta of 1.59. Albemarle Corporation has a 52-week low of $75.11 and a 52-week high of $123.48.

Albemarle Corporation (NYSE:ALB) last issued its quarterly earnings data on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.02. Albemarle Corporation had a net margin of 31.49% and a return on equity of 11.59%. The firm had revenue of $737.25 million during the quarter, compared to the consensus estimate of $735.50 million. During the same quarter in the previous year, the firm posted $0.93 EPS. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts forecast that Albemarle Corporation will post $4.37 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Thursday, September 14th. Albemarle Corporation’s dividend payout ratio (DPR) is presently 16.41%.

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In other Albemarle Corporation news, EVP Karen G. Narwold sold 20,000 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $108.16, for a total transaction of $2,163,200.00. Following the completion of the transaction, the executive vice president now owns 45,120 shares of the company’s stock, valued at approximately $4,880,179.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Douglas L. Maine sold 10,000 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $107.94, for a total transaction of $1,079,400.00. Following the transaction, the director now directly owns 24,150 shares of the company’s stock, valued at approximately $2,606,751. The disclosure for this sale can be found here. Insiders have sold a total of 121,897 shares of company stock valued at $13,458,086 in the last three months. Insiders own 0.74% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Albemarle Corporation by 2,805.3% in the first quarter. BlackRock Inc. now owns 8,310,717 shares of the specialty chemicals company’s stock valued at $877,947,000 after buying an additional 8,024,668 shares during the period. Janus Henderson Group PLC increased its position in Albemarle Corporation by 907.7% in the second quarter. Janus Henderson Group PLC now owns 817,035 shares of the specialty chemicals company’s stock valued at $86,230,000 after buying an additional 735,956 shares during the period. Vanguard Group Inc. increased its position in Albemarle Corporation by 6.3% in the first quarter. Vanguard Group Inc. now owns 12,287,799 shares of the specialty chemicals company’s stock valued at $1,298,083,000 after buying an additional 725,702 shares during the period. Artisan Partners Limited Partnership increased its position in Albemarle Corporation by 6,185.5% in the second quarter. Artisan Partners Limited Partnership now owns 731,690 shares of the specialty chemicals company’s stock valued at $77,223,000 after buying an additional 720,049 shares during the period. Finally, Jennison Associates LLC increased its position in Albemarle Corporation by 12.0% in the second quarter. Jennison Associates LLC now owns 6,421,530 shares of the specialty chemicals company’s stock valued at $677,728,000 after buying an additional 689,054 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

About Albemarle Corporation

Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.

Analyst Recommendations for Albemarle Corporation (NYSE:ALB)

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