Albemarle Co. (ALB) PT Raised to $132.00 at Royal Bank of Canada
Albemarle Co. (NYSE:ALB) had its target price upped by research analysts at Royal Bank of Canada from $130.00 to $132.00 in a report released on Friday. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 24.45% from the company’s current price.
Other equities analysts have also issued research reports about the company. Robert W. Baird increased their target price on Albemarle to $125.00 in a report on Wednesday, March 1st. Zacks Investment Research raised Albemarle from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Tuesday, November 22nd. Aegis started coverage on Albemarle in a report on Friday, February 17th. They issued a “buy” rating and a $108.00 target price on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $102.00 target price on shares of Albemarle in a report on Friday, January 6th. Finally, Instinet increased their target price on Albemarle from $92.00 to $102.00 and gave the company a “buy” rating in a report on Friday, January 6th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Albemarle has a consensus rating of “Buy” and an average price target of $109.73.
Albemarle (NYSE:ALB) opened at 106.07 on Friday. The firm has a market cap of $11.94 billion, a PE ratio of 18.66 and a beta of 1.41. Albemarle has a one year low of $60.34 and a one year high of $106.53. The stock has a 50 day moving average price of $97.41 and a 200 day moving average price of $88.12.
Albemarle (NYSE:ALB) last posted its earnings results on Monday, February 27th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.73 by $0.05. The firm had revenue of $696.70 million for the quarter, compared to analyst estimates of $642.68 million. Albemarle had a return on equity of 14.38% and a net margin of 6.92%. Albemarle’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 earnings per share. Equities research analysts expect that Albemarle will post $4.18 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Wednesday, March 15th will be issued a dividend of $0.32 per share. This is a positive change from Albemarle’s previous quarterly dividend of $0.31. The ex-dividend date is Monday, March 13th. This represents a $1.28 annualized dividend and a dividend yield of 1.21%. Albemarle’s dividend payout ratio (DPR) is presently 63.54%.
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In other Albemarle news, CFO Scott Tozier sold 1,057 shares of the firm’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $90.62, for a total transaction of $95,785.34. Following the transaction, the chief financial officer now owns 29,722 shares of the company’s stock, valued at $2,693,407.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Karen G. Narwold sold 392 shares of the firm’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $90.59, for a total value of $35,511.28. Following the transaction, the executive vice president now directly owns 22,284 shares in the company, valued at approximately $2,018,707.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,991 shares of company stock worth $361,246. Corporate insiders own 0.71% of the company’s stock.
Several institutional investors have recently modified their holdings of ALB. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new position in shares of Albemarle during the third quarter valued at about $104,000. Creative Planning increased its stake in shares of Albemarle by 16.8% in the third quarter. Creative Planning now owns 1,228 shares of the company’s stock valued at $105,000 after buying an additional 177 shares during the period. Van ECK Associates Corp increased its stake in shares of Albemarle by 97.7% in the fourth quarter. Van ECK Associates Corp now owns 1,360 shares of the company’s stock valued at $117,000 after buying an additional 672 shares during the period. Carroll Financial Associates Inc. increased its stake in shares of Albemarle by 475.4% in the third quarter. Carroll Financial Associates Inc. now owns 1,381 shares of the company’s stock valued at $118,000 after buying an additional 1,141 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of Albemarle 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. 86.50% of the stock is currently owned by institutional investors.
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, crop protection, household appliances, heating, ventilation, aluminum finishing, food safety and custom chemistry services.
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