Seaport Global Securities upgraded shares of Albemarle (NYSE:ALB) from a neutral rating to a buy rating in a report published on Tuesday morning, The Fly reports.
Several other analysts have also recently issued reports on the company. Royal Bank of Canada cut their price objective on Albemarle from $133.00 to $100.00 and set a buy rating on the stock in a research note on Friday, March 2nd. BMO Capital Markets restated an outperform rating and set a $130.00 price objective (down previously from $160.00) on shares of Albemarle in a research note on Friday, March 2nd. Loop Capital set a $130.00 price objective on Albemarle and gave the company a buy rating in a research note on Friday, March 2nd. Nomura cut their price objective on Albemarle from $161.00 to $141.00 and set a buy rating on the stock in a research note on Thursday, March 1st. Finally, Citigroup cut their price objective on Albemarle from $148.00 to $112.00 and set a neutral rating on the stock in a research note on Thursday, March 1st. Eight analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Albemarle currently has an average rating of Buy and an average target price of $128.07.
Albemarle (ALB) opened at $100.14 on Tuesday. The company has a quick ratio of 1.57, a current ratio of 2.06 and a debt-to-equity ratio of 0.37. Albemarle has a one year low of $90.49 and a one year high of $144.99. The company has a market capitalization of $10,669.97, a PE ratio of 208.63, a P/E/G ratio of 1.16 and a beta of 1.60.
Albemarle (NYSE:ALB) last released its quarterly earnings results on Tuesday, February 27th. The specialty chemicals company reported $1.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.13. Albemarle had a return on equity of 13.27% and a net margin of 1.79%. The business had revenue of $857.79 million for the quarter, compared to analysts’ expectations of $791.46 million. analysts forecast that Albemarle will post 5.13 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.34%. This is a boost from Albemarle’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, March 14th. Albemarle’s dividend payout ratio is presently 266.67%.
Institutional investors have recently made changes to their positions in the company. SeaCrest Wealth Management LLC acquired a new stake in shares of Albemarle during the 4th quarter worth approximately $103,000. Stephens Inc. AR acquired a new stake in shares of Albemarle during the 4th quarter worth approximately $115,000. Banco de Sabadell S.A bought a new position in Albemarle in the 4th quarter worth approximately $133,000. Valeo Financial Advisors LLC bought a new position in Albemarle in the 4th quarter worth approximately $155,000. Finally, Renaissance Investment Group LLC bought a new position in Albemarle in the 4th quarter worth approximately $201,000. Institutional investors and hedge funds own 85.73% of the company’s stock.
Albemarle Company Profile
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.