Albemarle Corporation (NYSE:ALB) – Equities research analysts at Oppenheimer Holdings upped their FY2017 EPS estimates for shares of Albemarle Corporation in a note issued to investors on Thursday. Oppenheimer Holdings analyst C. Rusch now forecasts that the specialty chemicals company will earn $4.46 per share for the year, up from their previous estimate of $4.38. Oppenheimer Holdings has a “Outperform” rating and a $157.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Albemarle Corporation’s Q4 2017 earnings at $1.21 EPS, FY2018 earnings at $5.14 EPS, FY2019 earnings at $5.65 EPS, FY2020 earnings at $6.42 EPS and FY2021 earnings at $7.25 EPS.

Albemarle Corporation (NYSE:ALB) last released its earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The company had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $732.19 million. Albemarle Corporation had a net margin of 30.07% and a return on equity of 11.61%. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.91 EPS.

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Several other equities research analysts have also recently issued reports on ALB. UBS AG lifted their price objective on shares of Albemarle Corporation from $123.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday. Vertical Research reissued a “hold” rating and issued a $109.00 target price (up from $108.00) on shares of Albemarle Corporation in a report on Thursday, August 10th. SunTrust Banks, Inc. lowered shares of Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 target price for the company. in a report on Wednesday, August 9th. BidaskClub lowered shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Loop Capital initiated coverage on shares of Albemarle Corporation in a report on Thursday, September 28th. They issued a “buy” rating and a $150.00 target price for the company. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Albemarle Corporation presently has an average rating of “Buy” and an average price target of $128.15.

Shares of Albemarle Corporation (ALB) opened at $140.62 on Monday. The stock has a market cap of $15,537.89, a P/E ratio of 34.81, a PEG ratio of 2.14 and a beta of 1.72. The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 0.35. Albemarle Corporation has a 1 year low of $76.32 and a 1 year high of $144.99.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.28 dividend on an annualized basis and a yield of 0.91%. Albemarle Corporation’s dividend payout ratio is presently 16.56%.

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

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Albemarle Corporation by 1.7% during the second quarter. Vanguard Group Inc. now owns 12,501,329 shares of the specialty chemicals company’s stock valued at $1,319,389,000 after acquiring an additional 213,530 shares in the last quarter. Jennison Associates LLC boosted its position in Albemarle Corporation by 21.4% in the third quarter. Jennison Associates LLC now owns 7,797,076 shares of the specialty chemicals company’s stock valued at $1,062,819,000 after buying an additional 1,375,546 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Albemarle Corporation by 258.1% in the third 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 buying an additional 3,287,989 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Albemarle Corporation by 69.2% in the second quarter. TIAA CREF Investment Management LLC now owns 1,661,821 shares of the specialty chemicals company’s stock valued at $175,389,000 after buying an additional 679,453 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in Albemarle Corporation by 48.7% in the second quarter. Teachers Advisors LLC now owns 1,189,424 shares of the specialty chemicals company’s stock valued at $125,532,000 after buying an additional 389,666 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Albemarle Corporation Company Profile

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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