Q4 Earnings Forecast for Albemarle Issued By Scotiabank

Albemarle Co. (NYSE:ALB - Free Report) - Equities research analysts at Scotiabank issued their Q4 2024 earnings per share (EPS) estimates for Albemarle in a research note issued on Monday, November 11th. Scotiabank analyst B. Isaacson anticipates that the specialty chemicals company will post earnings of ($0.52) per share for the quarter. Scotiabank currently has a "Sector Perform" rating and a $85.00 target price on the stock. The consensus estimate for Albemarle's current full-year earnings is ($0.52) per share.

A number of other equities analysts also recently commented on ALB. Bank of America cut their price objective on shares of Albemarle from $135.00 to $126.00 and set a "buy" rating for the company in a research report on Friday, August 2nd. Evercore ISI reduced their price target on shares of Albemarle from $190.00 to $170.00 and set an "outperform" rating for the company in a research report on Wednesday, August 28th. Robert W. Baird lowered their price objective on shares of Albemarle from $85.00 to $79.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. KeyCorp cut their price objective on shares of Albemarle from $132.00 to $127.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, Piper Sandler decreased their target price on shares of Albemarle from $95.00 to $90.00 and set an "underweight" rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Albemarle has a consensus rating of "Hold" and an average target price of $114.47.

Albemarle Price Performance

NYSE:ALB traded up $5.39 during trading hours on Wednesday, reaching $108.19. 3,817,872 shares of the company's stock were exchanged, compared to its average volume of 2,976,199. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. Albemarle has a 1-year low of $71.97 and a 1-year high of $153.54. The company has a 50-day moving average of $94.13 and a 200 day moving average of $100.15.

Albemarle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, December 13th. Albemarle's dividend payout ratio (DPR) is presently -9.67%.

Institutional Investors Weigh In On Albemarle

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in Albemarle by 239.7% in the 2nd quarter. SG Americas Securities LLC now owns 53,793 shares of the specialty chemicals company's stock worth $5,138,000 after buying an additional 37,958 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Albemarle by 22.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 190,526 shares of the specialty chemicals company's stock valued at $25,100,000 after purchasing an additional 35,003 shares in the last quarter. MBB Public Markets I LLC increased its position in Albemarle by 392.6% in the 2nd quarter. MBB Public Markets I LLC now owns 7,916 shares of the specialty chemicals company's stock worth $756,000 after purchasing an additional 6,309 shares during the last quarter. Vest Financial LLC raised its stake in shares of Albemarle by 32.4% during the 3rd quarter. Vest Financial LLC now owns 521,537 shares of the specialty chemicals company's stock worth $49,395,000 after purchasing an additional 127,549 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of Albemarle during the 1st quarter valued at about $202,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.