Brokerages predict that Albemarle Co. (NYSE:ALB – Get Rating) will post $1.02 billion in sales for the current quarter, Zacks reports. Five analysts have made estimates for Albemarle’s earnings. The lowest sales estimate is $953.00 million and the highest is $1.07 billion. Albemarle posted sales of $773.90 million during the same quarter last year, which suggests a positive year over year growth rate of 31.8%. The company is expected to announce its next earnings report on Monday, January 1st.
On average, analysts expect that Albemarle will report full year sales of $4.34 billion for the current year. For the next financial year, analysts forecast that the firm will report sales of $5.13 billion, with estimates ranging from $4.10 billion to $5.96 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Albemarle.
Albemarle (NYSE:ALB – Get Rating) last released its earnings results on Wednesday, May 4th. The specialty chemicals company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.73 by $0.65. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Albemarle had a net margin of 7.76% and a return on equity of 10.35%. Albemarle’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 EPS.
Shares of ALB opened at $221.64 on Tuesday. The firm has a market cap of $25.96 billion, a PE ratio of 93.13, a price-to-earnings-growth ratio of 1.17 and a beta of 1.55. The company’s fifty day moving average is $204.18 and its two-hundred day moving average is $226.22. Albemarle has a fifty-two week low of $152.58 and a fifty-two week high of $291.48. The company has a quick ratio of 0.64, a current ratio of 1.11 and a debt-to-equity ratio of 0.33.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 10th will be given a $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, June 9th. Albemarle’s payout ratio is currently 66.39%.
In related news, insider Netha N. Johnson bought 1,060 shares of the company’s stock in a transaction dated Friday, February 18th. The stock was bought at an average price of $187.81 per share, with a total value of $199,078.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO J Kent Masters bought 5,241 shares of the company’s stock in a transaction dated Friday, February 18th. The stock was bought at an average cost of $190.80 per share, with a total value of $999,982.80. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Kozak & Associates Inc. acquired a new position in Albemarle during the 3rd quarter valued at about $27,000. Lowe Wealth Advisors LLC acquired a new position in Albemarle during the 1st quarter valued at about $28,000. City State Bank acquired a new stake in shares of Albemarle in the 4th quarter worth approximately $29,000. Salem Investment Counselors Inc. lifted its stake in shares of Albemarle by 127.3% in the 4th quarter. Salem Investment Counselors Inc. now owns 125 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 70 shares during the period. Finally, Quent Capital LLC acquired a new stake in shares of Albemarle in the 4th quarter worth approximately $31,000. 80.03% of the stock is owned by institutional investors and hedge funds.
About Albemarle (Get Rating)
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.
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