Albemarle (ALB) Shares Gap Down to $107.99

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Shares of Albemarle Co. (NYSE:ALB) gapped down prior to trading on Thursday . The stock had previously closed at $111.68, but opened at $107.99. Albemarle shares last traded at $105.87, with a volume of 2643901 shares traded.

ALB has been the topic of several recent research reports. ValuEngine downgraded Albemarle from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 7th. Zacks Investment Research upgraded Albemarle from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a research note on Tuesday, August 7th. SunTrust Banks upgraded Albemarle from a “hold” rating to a “buy” rating and upped their price target for the stock from $110.00 to $115.00 in a research note on Tuesday, September 4th. Vertical Group assumed coverage on Albemarle in a research note on Tuesday, September 25th. They issued a “sell” rating and a $85.00 price target on the stock. Finally, Vertical Research assumed coverage on Albemarle in a research note on Tuesday, September 25th. They set a “sell” rating and a $85.00 target price on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eighteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $123.50.

The company has a debt-to-equity ratio of 0.37, a current ratio of 2.19 and a quick ratio of 1.55. The company has a market cap of $11.71 billion, a P/E ratio of 22.31, a price-to-earnings-growth ratio of 1.41 and a beta of 1.53.

Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, November 7th. The specialty chemicals company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. Albemarle had a return on equity of 15.21% and a net margin of 10.44%. The business had revenue of $778.00 million for the quarter, compared to the consensus estimate of $796.79 million. During the same period last year, the business posted $1.08 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. Analysts expect that Albemarle Co. will post 5.39 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be paid a dividend of $0.335 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.34 annualized dividend and a yield of 1.31%. Albemarle’s dividend payout ratio is 29.19%.

In other news, EVP Karen G. Narwold sold 3,100 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $97.11, for a total value of $301,041.00. Following the transaction, the executive vice president now directly owns 30,242 shares in the company, valued at approximately $2,936,800.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale boosted its stake in shares of Albemarle by 9.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 5,798 shares of the specialty chemicals company’s stock worth $605,000 after buying an additional 508 shares during the last quarter. Gratus Capital LLC boosted its stake in shares of Albemarle by 7.4% in the 3rd quarter. Gratus Capital LLC now owns 62,622 shares of the specialty chemicals company’s stock worth $6,248,000 after buying an additional 4,326 shares during the last quarter. FMR LLC boosted its stake in shares of Albemarle by 402.6% in the 3rd quarter. FMR LLC now owns 65,760 shares of the specialty chemicals company’s stock worth $6,561,000 after buying an additional 52,677 shares during the last quarter. American International Group Inc. boosted its stake in shares of Albemarle by 3.9% in the 3rd quarter. American International Group Inc. now owns 41,712 shares of the specialty chemicals company’s stock worth $4,162,000 after buying an additional 1,580 shares during the last quarter. Finally, CI Investments Inc. boosted its stake in shares of Albemarle by 122.0% in the 3rd quarter. CI Investments Inc. now owns 66,600 shares of the specialty chemicals company’s stock worth $6,645,000 after buying an additional 36,600 shares during the last quarter. Hedge funds and other institutional investors own 90.99% of the company’s stock.

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Albemarle Company Profile (NYSE:ALB)

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.

Further Reading: Understanding Price to Earnings Ratio (PE)

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