Baird Reiterates "Outperform" Rating for Albemarle Corporation (NYSE:ALB)

BlackRock Inc.'s holdings in Albemarle Corporation were worth $877,947,000 at the end of the most recent quarter. Finally, Pacer Advisors Inc. raised its position in shares of Albemarle Corporation by 3.5% in the first quarter. The firm owned 9,547 shares of the specialty chemicals company's stock after selling 1,006 shares during the period. Norges Bank purchased a new stake in shares of Albemarle Corporation during the fourth quarter valued at about $77,376,000. Guggenheim Capital LLC now owns 569,885 shares of the specialty chemicals company's stock valued at $49,055,000 after buying an additional 236,767 shares during the last quarter. Asset Management One has invested 0.04% in Albemarle Corporation (NYSE:ALB). Van ECK Associates Corp now owns 1,614 shares of the specialty chemicals company's stock worth $171,000 after buying an additional 254 shares during the period. Conning Inc. bought a new stake in Albemarle Corporation during the first quarter worth approximately $205,000. Lastly, Nomura reiterated a "buy" recommendation and fixed a $124.00 price objective on the stock of Albemarle Corporation in a study report published on Fri, May 5th. around three research experts recommended the company shares with a hold recommendation, around ten have issued a buy recommendation and 1 has given a strong buy recommendation to the firms shares. the share now has a average recommendation of "Buy" and an consensus price target of $103.71. Given the stock's recent action, it seemed like a good time to take a closer look at the company's recent data. Dekabank Deutsche Girozentrale holds 0% of its portfolio in Albemarle Corporation (NYSE:ALB) for 2,944 shares. About 543,982 shares traded. The firm has a market cap of $11.74 billion, a P/E ratio of 25.77 and a beta of 1.58. The stock is trading $109.69 its 50-day moving average by 3.66%. Looking at the stock's movement on the chart, Albemarle Corporation recorded a 52-week high of $116.64. The stock of Albemarle Corporation (NYSE:ALB) earned "Buy" rating by RBC Capital Markets on Wednesday, April 19. The specialty chemicals company reported $1.05 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.95 by $0.10. The company had revenue of $722.06 million during the quarter, compared to the consensus estimate of $678.74 million. Albemarle Corporation had a return on equity of 11.97% and a net margin of 17.02%. Analysts expect that Albemarle Corporation will post $4.36 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 3rd. The ex-dividend date is Tue, Jun 13th. Albemarle Corporation's payout ratio is 31.22%.

TRADEMARK VIOLATION WARNING: This article was first posted by Community Financial News and is owned by of Community Financial News. If you are accessing this story on another publication, it was copied illegally and republished in violation of United States and worldwide copyright & trademark laws.

Several research firms recently issued reports on ALB.

02/17/2017 - Aegis Capital began new coverage on Albemarle Corporation giving the company a "buy" rating. Robert W. Baird reiterated an "outperform" recommendation and fixed a $125.00 price objective on the stock of Albemarle Corporation in a study report on Sunday, Apr 9th. Finally, Royal Bank Of Canada raised their price target on shares of Albemarle Corporation from $130.00 to $132.00 and gave the company an "outperform" rating in a research note on Friday, March 17th.

According to the the latest analyst ratings which have been released, 3 brokers have issued a rating of "buy", 7 brokers "outperform", 9 brokers "hold", 0 brokers "underperform" and 0 brokers "sell". The stock now has an average rating of "Buy" and an average price target of $103.71. Also, Director Douglas L. ME sold 10,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 24,150 shares in the company, valued at $2,606,751. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. $97,741 worth of Albemarle Corporation (NYSE:ALB) was sold by NARWOLD KAREN G. Tozier Scott sold $288,792 worth of stock. 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 directly owns 45,120 shares in the company, valued at approximately $4,880,179.20. The disclosure for this sale can be found here. Hedge funds and other institutional investors own 85.78% of the company's stock.

Albemarle Corporation Specialty Chemicals has a PEG of 4.69 alongside a PS value of 4.33 and a PB value of 3.26. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions.

Latest News