Jefferies Group Analysts Lower Earnings Estimates for Albemarle Corporation (NYSE:ALB)

Albemarle Corporation (NYSE:ALB) – Jefferies Group lowered their FY2019 EPS estimates for shares of Albemarle Corporation in a report issued on Wednesday. Jefferies Group analyst L. Alexander now anticipates that the specialty chemicals company will post earnings per share of $5.80 for the year, down from their previous forecast of $5.90. Jefferies Group currently has a “Buy” rating and a $120.00 price objective on the stock. Jefferies Group also issued estimates for Albemarle Corporation’s FY2020 earnings at $6.80 EPS and FY2021 earnings at $8.25 EPS.

Other equities research analysts have also issued research reports about the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $132.00 price target on shares of Albemarle Corporation in a research report on Tuesday, April 18th. Aegis reiterated a “buy” rating on shares of Albemarle Corporation in a research report on Friday, July 7th. Zacks Investment Research upgraded Albemarle Corporation from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Friday, July 7th. Nomura restated a “buy” rating and set a $124.00 target price on shares of Albemarle Corporation in a research report on Monday, May 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $36.00 target price on shares of Albemarle Corporation in a research report on Thursday, June 29th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Albemarle Corporation currently has an average rating of “Buy” and an average target price of $106.69.

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Shares of Albemarle Corporation (NYSE:ALB) traded down 1.43% during trading on Friday, reaching $109.36. The company’s stock had a trading volume of 2,138,074 shares. The company’s 50 day moving average price is $113.72 and its 200 day moving average price is $106.75. Albemarle Corporation has a 12 month low of $75.11 and a 12 month high of $123.48. The firm has a market cap of $12.08 billion, a PE ratio of 13.99 and a beta of 1.59.

Albemarle Corporation (NYSE:ALB) last issued its earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $737.25 million for the quarter, compared to analysts’ expectations of $735.50 million. During the same quarter last year, the business earned $0.93 earnings per share. The company’s revenue was up 10.1% compared to the same quarter last year.

A number of hedge funds and other institutional investors have recently bought and sold shares of ALB. State of Alaska Department of Revenue purchased a new position in Albemarle Corporation during the first quarter worth $333,000. Rothschild Investment Corp IL increased its position in Albemarle Corporation by 4.0% in the first quarter. Rothschild Investment Corp IL now owns 5,200 shares of the specialty chemicals company’s stock worth $549,000 after buying an additional 200 shares during the period. Columbus Circle Investors increased its position in Albemarle Corporation by 10.0% in the first quarter. Columbus Circle Investors now owns 1,110,457 shares of the specialty chemicals company’s stock worth $117,309,000 after buying an additional 100,823 shares during the period. Nisa Investment Advisors LLC increased its position in Albemarle Corporation by 12.4% in the first quarter. Nisa Investment Advisors LLC now owns 58,820 shares of the specialty chemicals company’s stock worth $6,214,000 after buying an additional 6,500 shares during the period. Finally, Barometer Capital Management Inc. purchased a new position in Albemarle Corporation during the first quarter worth $25,074,000. 85.39% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Karen G. Narwold sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $108.16, for a total transaction of $2,163,200.00. Following the transaction, the executive vice president now directly owns 45,120 shares of the company’s stock, valued at approximately $4,880,179.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Luther C. Iv Kissam sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $110.08, for a total value of $5,504,000.00. Following the transaction, the chairman now directly owns 252,917 shares in the company, valued at $27,841,103.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 105,000 shares of company stock worth $11,499,850. 0.74% of the stock is owned by company insiders.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, September 14th. Albemarle Corporation’s dividend payout ratio (DPR) is currently 16.41%.

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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