Analysts expect Albemarle Co. (NYSE:ALB) to report sales of $723.27 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Albemarle’s earnings. The lowest sales estimate is $698.00 million and the highest is $739.53 million. Albemarle reported sales of $879.75 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 17.8%. The company is scheduled to issue its next quarterly earnings results on Wednesday, November 4th.
On average, analysts expect that Albemarle will report full-year sales of $3.04 billion for the current year, with estimates ranging from $2.86 billion to $3.30 billion. For the next year, analysts forecast that the business will post sales of $3.27 billion, with estimates ranging from $2.93 billion to $3.55 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Albemarle.
Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.14. Albemarle had a return on equity of 13.33% and a net margin of 12.99%.
In other Albemarle news, Director Luther C. Iv Kissam sold 150,001 shares of Albemarle stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $90.71, for a total transaction of $13,606,590.71. Following the completion of the transaction, the director now owns 225,812 shares in the company, valued at $20,483,406.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Luther C. Iv Kissam sold 59,000 shares of Albemarle stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $100.03, for a total transaction of $5,901,770.00. Following the transaction, the director now owns 243,065 shares of the company’s stock, valued at approximately $24,313,791.95. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Ellevest Inc. raised its position in shares of Albemarle by 133.2% in the second quarter. Ellevest Inc. now owns 492 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 281 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Albemarle in the second quarter valued at approximately $48,000. Reitz Capital Advisors LLC purchased a new stake in Albemarle in the second quarter valued at approximately $53,000. Private Capital Group LLC grew its holdings in Albemarle by 525.1% in the first quarter. Private Capital Group LLC now owns 1,144 shares of the specialty chemicals company’s stock valued at $65,000 after purchasing an additional 961 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in Albemarle during the first quarter worth approximately $71,000. Institutional investors own 89.77% of the company’s stock.
Shares of ALB stock traded down $0.59 during midday trading on Friday, hitting $97.80. The company had a trading volume of 929,862 shares, compared to its average volume of 1,571,709. The stock has a market cap of $10.40 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 3.51 and a beta of 1.41. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.61 and a quick ratio of 1.01. The company’s 50 day simple moving average is $90.70 and its 200 day simple moving average is $75.79. Albemarle has a 52-week low of $48.89 and a 52-week high of $100.31.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 18th will be given a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Thursday, September 17th. Albemarle’s payout ratio is currently 25.50%.
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications 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, life science, pharmaceutical, and other markets.
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