Albemarle Co. (NYSE:ALB – Get Rating) – Research analysts at Jefferies Financial Group raised their Q2 2022 earnings per share estimates for shares of Albemarle in a research note issued to investors on Tuesday, May 24th. Jefferies Financial Group analyst L. Alexander now anticipates that the specialty chemicals company will post earnings per share of $2.77 for the quarter, up from their previous estimate of $2.64. Jefferies Financial Group has a “Buy” rating and a $290.00 price target on the stock.
Several other analysts have also commented on ALB. Mizuho raised their price target on shares of Albemarle from $243.00 to $293.00 in a research report on Friday, May 6th. Cowen raised their price target on shares of Albemarle from $275.00 to $300.00 in a research report on Friday, May 6th. BMO Capital Markets decreased their price objective on shares of Albemarle from $300.00 to $280.00 in a report on Friday, February 18th. Cowen increased their price objective on shares of Albemarle from $275.00 to $300.00 in a report on Friday, May 6th. Finally, HSBC raised shares of Albemarle from a “hold” rating to a “buy” rating and raised their price target for the stock from $250.00 to $280.00 in a research note on Wednesday, January 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $278.65.
NYSE:ALB opened at $237.51 on Thursday. The firm has a market capitalization of $27.82 billion, a P/E ratio of 99.79, a PEG ratio of 0.84 and a beta of 1.55. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.11 and a quick ratio of 0.63. The company’s fifty day moving average price is $215.42 and its 200-day moving average price is $224.82. Albemarle has a 1-year low of $157.82 and a 1-year high of $291.48. Albemarle (NYSE:ALB – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The specialty chemicals company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.65. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Albemarle had a net margin of 7.76% and a return on equity of 10.35%. The business’s quarterly revenue was up 36.0% on a year-over-year basis. During the same quarter last year, the company posted $1.10 earnings per share.
A number of institutional investors and hedge funds have recently modified their holdings of ALB. BlackRock Inc. increased its stake in Albemarle by 8.8% in the 1st quarter. BlackRock Inc. now owns 9,924,312 shares of the specialty chemicals company’s stock worth $2,194,761,000 after purchasing an additional 803,134 shares in the last quarter. Norges Bank acquired a new stake in shares of Albemarle during the 4th quarter valued at about $185,328,000. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Albemarle during the 3rd quarter valued at about $144,979,000. Capital Research Global Investors lifted its holdings in shares of Albemarle by 75.2% during the 3rd quarter. Capital Research Global Investors now owns 1,219,288 shares of the specialty chemicals company’s stock valued at $266,987,000 after buying an additional 523,340 shares during the last quarter. Finally, FIFTHDELTA Ltd acquired a new stake in Albemarle in the 1st quarter worth approximately $115,020,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 10th will be issued a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, June 9th. Albemarle’s payout ratio is currently 66.39%.
About Albemarle (Get Rating)
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.
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