Albemarle Corporation (NYSE:ALB) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Albemarle Corporation (NYSE:ALB) have been assigned an average recommendation of “Moderate Buy” from the twenty-six research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $190.2609.

A number of equities analysts have recently issued reports on ALB shares. Rothschild & Co Redburn dropped their target price on Albemarle from $188.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. Citigroup decreased their price target on Albemarle from $225.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Mizuho lowered their price target on Albemarle from $205.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 1st. Morgan Stanley reiterated a “reduce” rating and set a $161.00 price objective on shares of Albemarle in a research note on Monday, August 10th. Finally, Argus lifted their price objective on Albemarle from $185.00 to $230.00 and gave the company a “buy” rating in a report on Monday, May 11th.

Albemarle Trading Down 0.2%

Shares of ALB stock opened at $142.99 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.35 and a current ratio of 2.09. The firm has a fifty day moving average of $132.04 and a 200-day moving average of $160.70. Albemarle has a 52-week low of $71.25 and a 52-week high of $221.00. The stock has a market cap of $16.87 billion, a price-to-earnings ratio of 529.61 and a beta of 1.33.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, August 5th. The specialty chemicals company reported $3.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.55. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.61 billion. Albemarle had a net margin of 3.09% and a return on equity of 10.96%. The company’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 earnings per share. On average, equities research analysts forecast that Albemarle will post 11.63 earnings per share for the current fiscal year.

Albemarle Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 11th. This is a positive change from Albemarle’s previous quarterly dividend of $0.41. Albemarle’s payout ratio is currently 600.00%.

Hedge Funds Weigh In On Albemarle

Institutional investors have recently added to or reduced their stakes in the company. Pinkerton Wealth LLC bought a new position in Albemarle in the fourth quarter valued at about $2,785,000. BW Gestao de Investimentos Ltda. increased its position in Albemarle by 181.8% in the fourth quarter. BW Gestao de Investimentos Ltda. now owns 132,250 shares of the specialty chemicals company’s stock worth $18,705,000 after purchasing an additional 85,320 shares during the period. Great Lakes Advisors LLC bought a new stake in Albemarle during the 2nd quarter worth about $4,246,000. Wealth High Governance Capital Ltda acquired a new position in Albemarle during the 4th quarter valued at about $21,585,000. Finally, Hsbc Holdings PLC lifted its position in Albemarle by 47.4% during the 4th quarter. Hsbc Holdings PLC now owns 230,690 shares of the specialty chemicals company’s stock valued at $32,655,000 after purchasing an additional 74,202 shares during the period. 92.87% of the stock is owned by institutional investors.

About Albemarle

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.