Albemarle Corporation (NYSE:ALB) – SunTrust Banks cut their FY2018 earnings per share estimates for shares of Albemarle Corporation in a research note issued to investors on Wednesday. SunTrust Banks analyst J. Sheehan now expects that the specialty chemicals company will post earnings of $5.03 per share for the year, down from their previous forecast of $5.07. SunTrust Banks currently has a “Hold” rating and a $121.00 price objective on the stock.

Albemarle Corporation (NYSE:ALB) last posted its earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.02. Albemarle Corporation had a return on equity of 11.59% and a net margin of 31.49%. The business had revenue of $737.25 million during the quarter, compared to analysts’ expectations of $735.50 million. During the same period in the previous year, the business earned $0.93 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. COPYRIGHT VIOLATION NOTICE: “Albemarle Corporation (ALB) Expected to Earn FY2018 Earnings of $5.03 Per Share” was first reported by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://www.watchlistnews.com/albemarle-corporation-alb-expected-to-earn-fy2018-earnings-of-5-03-per-share/1468718.html.

A number of other research analysts have also weighed in on ALB. BidaskClub lowered Albemarle Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Royal Bank Of Canada restated a “buy” rating and set a $136.00 price objective on shares of Albemarle Corporation in a research report on Friday, July 14th. Zacks Investment Research lowered Albemarle Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Aegis reaffirmed a “buy” rating on shares of Albemarle Corporation in a report on Friday, July 7th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $47.00 price target on shares of Albemarle Corporation in a report on Thursday, June 29th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $106.53.

Albemarle Corporation (NYSE:ALB) traded down 1.99% during trading on Thursday, reaching $110.91. The company had a trading volume of 1,391,556 shares. The firm has a market capitalization of $12.28 billion, a P/E ratio of 14.18 and a beta of 1.59. The firm’s 50-day moving average price is $113.46 and its 200 day moving average price is $106.61. Albemarle Corporation has a one year low of $75.11 and a one year high of $123.48.

Hedge funds have recently bought and sold shares of the stock. Carroll Financial Associates Inc. increased its stake in Albemarle Corporation by 0.3% in the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock valued at $103,000 after buying an additional 3 shares in the last quarter. Smithfield Trust Co. increased its stake in Albemarle Corporation by 16.1% in the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock valued at $106,000 after buying an additional 140 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Albemarle Corporation by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,454 shares of the specialty chemicals company’s stock valued at $154,000 after buying an additional 5 shares in the last quarter. Copper Rock Capital Partners LLC increased its stake in Albemarle Corporation by 303.3% in the second quarter. Copper Rock Capital Partners LLC now owns 1,944 shares of the specialty chemicals company’s stock valued at $167,000 after buying an additional 1,462 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Albemarle Corporation by 18.7% in the first quarter. Van ECK Associates Corp now owns 1,614 shares of the specialty chemicals company’s stock valued at $171,000 after buying an additional 254 shares in the last quarter. 85.39% of the stock is owned by hedge funds and other institutional investors.

In other news, CFO Scott Tozier sold 25,000 shares of Albemarle Corporation stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $110.13, for a total transaction of $2,753,250.00. Following the completion of the sale, the chief financial officer now owns 57,506 shares of the company’s stock, valued at $6,333,135.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas L. Maine sold 10,000 shares of Albemarle Corporation 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 sale, the director now directly owns 24,150 shares of the company’s stock, valued at approximately $2,606,751. The disclosure for this sale can be found here. Insiders have sold 105,000 shares of company stock valued at $11,499,850 in the last ninety days. Insiders own 0.74% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Thursday, September 14th. Albemarle Corporation’s dividend payout ratio is presently 16.41%.

About Albemarle Corporation

Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.

Earnings History and Estimates for Albemarle Corporation (NYSE:ALB)

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