Zacks Investment Research downgraded shares of Albemarle Corp. (NYSE:ALB) from a purchase score to a maintain score in a badysis notice issued to buyers on Tuesday.
According to Zacks, “Albemarle Corporation is a serious producer of fantastic and efficiency chemical substances together with polymer intermediates, cleansing product intermediates and components, agricultural chemical intermediates, pharmaceutical intermediates, catalysts, brominated flame retardants, bromine chemical substances and potbadium and chlorine chemical substances. “
Other badysts have additionally issued reviews in regards to the inventory. Deutsche Bank AG restated a purchase score on shares of Albemarle Corp. in a badysis report on Wednesday, August 24th. Nomura set a $92.00 worth goal on shares of Albemarle Corp. and gave the corporate a purchase score in a badysis report on Tuesday, August 23rd. Finally, Citigroup Inc. upped their worth goal on shares of Albemarle Corp. from $95.00 to $101.00 and gave the corporate a purchase score in a badysis report on Tuesday, August ninth. Five equities badysis badysts have rated the inventory with a maintain score and eight have given a purchase score to the corporate’s inventory. Albemarle Corp. at the moment has a consensus score of Buy and a mean worth goal of $79.80.
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Shares of Albemarle Corp. (NYSE:ALB) opened at 82.97 on Tuesday. Albemarle Corp. has a 12 month low of $45.78 and a 12 month excessive of $87.29. The firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of 43.44 and a beta of 1.52. The firm has a 50-day transferring common worth of $82.40 and a 200-day transferring common worth of $80.73.
Albemarle Corp. (NYSE:ALB) final introduced its earnings outcomes on Monday, November seventh. The firm reported $zero.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $zero.81 by $zero.10. Albemarle Corp. had a web margin of 6.92% and a return on fairness of 14.38%. The firm earned $654 million through the quarter, in comparison with badyst estimates of $645.81 million. During the identical interval within the earlier yr, the enterprise earned $zero.90 earnings per share. The agency’s quarterly income was down 5.7% in comparison with the identical quarter final yr. On common, equities badysts anticipate that Albemarle Corp. will publish $three.52 EPS for the present yr.
The enterprise additionally just lately declared a quarterly dividend, which might be paid on Monday, January 2nd. Investors of report on Thursday, December 15th might be paid a $zero.305 dividend. This represents a $1.22 dividend on an annualized foundation and a yield of 1.47%. The ex-dividend date is Tuesday, December 13th. Albemarle Corp.’s payout ratio is at the moment 63.54%.
In badociated information, CEO Luther C. Iv Kissam offered 50,00zero shares of the inventory in a transaction dated Wednesday, August 24th. The shares had been offered at a mean worth of $83.19, for a complete worth of $four,159,500.00. Following the completion of the transaction, the chief govt officer now instantly owns 233,00zero shares of the corporate’s inventory, valued at $19,383,270. The transaction was disclosed in a authorized submitting with the SEC, which is out there by way of this hyperlink. zero.71% of the inventory is at the moment owned by company insiders.
Institutional buyers have just lately made modifications to their positions within the inventory. Jennison Associates LLC elevated its place in shares of Albemarle Corp. by 218.eight% within the third quarter. Jennison Associates LLC now owns four,147,707 shares of the corporate’s inventory value $354,587,00zero after shopping for an extra 2,846,734 shares within the final quarter. Vanguard Group Inc. elevated its place in shares of Albemarle Corp. by 20.zero% within the second quarter. Vanguard Group Inc. now owns 10,771,871 shares of the corporate’s inventory value $854,316,00zero after shopping for an extra 1,795,733 shares within the final quarter. Egerton Capital UK LLP acquired a brand new place in shares of Albemarle Corp. through the second quarter value $118,587,00zero. Columbus Circle Investors elevated its place in shares of Albemarle Corp. by 14,545.6% within the third quarter. Columbus Circle Investors now owns 839,484 shares of the corporate’s inventory value $71,767,00zero after shopping for an extra 833,752 shares within the final quarter. Finally, First Eagle Investment Management LLC acquired a brand new place in shares of Albemarle Corp. through the second quarter value $55,772,00zero. 91.70% of the inventory is owned by institutional buyers and hedge funds.
About Albemarle Corp.
Albemarle Corporation is a developer, producer and marketer of specialty chemical substances throughout a spread of finish markets, together with the petroleum refining, shopper electronics, power storage, building, automotive, metal and aerospace, lubricants, prescription drugs, heating, air flow, and aluminum ending.