Albemarle Corporation (NYSE:ALB) had its price target boosted by Nomura to $159.00 in a research report released on Friday morning. Nomura currently has an outperform rating on the specialty chemicals company’s stock.

Other analysts have also recently issued reports about the company. Royal Bank Of Canada reissued a buy rating and set a $136.00 price target on shares of Albemarle Corporation in a report on Friday, July 14th. BidaskClub cut Albemarle Corporation from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Instinet lifted their price target on Albemarle Corporation from $134.00 to $146.00 and gave the stock a buy rating in a report on Monday, September 18th. KeyCorp reissued a buy rating and set a $125.00 price target on shares of Albemarle Corporation in a report on Sunday, September 3rd. Finally, Jefferies Group LLC set a $144.00 price target on Albemarle Corporation and gave the stock a buy rating in a report on Monday, August 21st. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Albemarle Corporation currently has an average rating of Buy and an average target price of $128.15.

Shares of Albemarle Corporation (ALB) opened at $143.37 on Friday. Albemarle Corporation has a 52-week low of $76.32 and a 52-week high of $144.99. The stock has a market capitalization of $15,840.00, a P/E ratio of 34.81, a PEG ratio of 2.14 and a beta of 1.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.11 and a quick ratio of 1.56.

Albemarle Corporation (NYSE:ALB) last released its quarterly earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. The business had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $732.19 million. Albemarle Corporation had a return on equity of 11.61% and a net margin of 30.07%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the firm posted $0.91 EPS. sell-side analysts anticipate that Albemarle Corporation will post 4.45 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a $0.32 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.28 annualized dividend and a dividend yield of 0.89%. Albemarle Corporation’s payout ratio is 45.71%.

In other news, EVP Karen G. Narwold sold 11,500 shares of Albemarle Corporation stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $115.95, for a total value of $1,333,425.00. Following the transaction, the executive vice president now owns 36,620 shares in the company, valued at approximately $4,246,089. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Matthew Juneau sold 5,397 shares of Albemarle Corporation stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $115.77, for a total value of $624,810.69. Following the completion of the transaction, the executive vice president now owns 360 shares in the company, valued at approximately $41,677.20. The disclosure for this sale can be found here. Company insiders own 0.74% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ALB. Bank of New York Mellon Corp increased its stake in shares of Albemarle Corporation by 258.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,561,987 shares of the specialty chemicals company’s stock valued at $621,845,000 after purchasing an additional 3,287,989 shares during the last quarter. Jennison Associates LLC grew its position in Albemarle Corporation by 21.4% during the 3rd quarter. Jennison Associates LLC now owns 7,797,076 shares of the specialty chemicals company’s stock worth $1,062,819,000 after acquiring an additional 1,375,546 shares during the last quarter. Janus Henderson Group PLC grew its position in Albemarle Corporation by 907.7% during the 2nd quarter. Janus Henderson Group PLC now owns 817,035 shares of the specialty chemicals company’s stock worth $86,230,000 after acquiring an additional 735,956 shares during the last quarter. Artisan Partners Limited Partnership grew its position in Albemarle Corporation by 6,185.5% during the 2nd quarter. Artisan Partners Limited Partnership now owns 731,690 shares of the specialty chemicals company’s stock worth $77,223,000 after acquiring an additional 720,049 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its position in Albemarle Corporation by 69.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,661,821 shares of the specialty chemicals company’s stock worth $175,389,000 after acquiring an additional 679,453 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

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.

Analyst Recommendations for Albemarle Corporation (NYSE:ALB)

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