Fintel reports that on May 9, 2023, Scotiabank upgraded their outlook for Albemarle (NYSE:ALB) from Sector Perform to Sector Outperform .
Analyst Price Forecast Suggests 61.61% Upside
As of April 24, 2023, the average one-year price target for Albemarle is 300.40. The forecasts range from a low of 156.55 to a high of $522.90. The average price target represents an increase of 61.61% from its latest reported closing price of 185.88.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Albemarle is 10,248MM, an increase of 16.82%. The projected annual non-GAAP EPS is 28.21.
Albemarle Declares $0.40 Dividend
On May 2, 2023 the company declared a regular quarterly dividend of $0.40 per share ($1.60 annualized). Shareholders of record as of June 16, 2023 will receive the payment on July 3, 2023. Previously, the company paid $0.40 per share.
At the current share price of $185.88 / share, the stock's dividend yield is 0.86%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.32%, the lowest has been 0.50%, and the highest has been 3.03%. The standard deviation of yields is 0.62 (n=237).
The current dividend yield is 0.74 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.05. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.04%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1821 funds or institutions reporting positions in Albemarle. This is an increase of 104 owner(s) or 6.06% in the last quarter. Average portfolio weight of all funds dedicated to ALB is 0.36%, a decrease of 1.50%. Total shares owned by institutions increased in the last three months by 5.35% to 120,359K shares. The put/call ratio of ALB is 1.69, indicating a bearish outlook.
What are Other Shareholders Doing?
Capital International Investors holds 7,656K shares representing 6.52% ownership of the company. In it's prior filing, the firm reported owning 4,903K shares, representing an increase of 35.96%. The firm increased its portfolio allocation in ALB by 17.84% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,559K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 3,492K shares, representing an increase of 1.88%. The firm decreased its portfolio allocation in ALB by 22.82% over the last quarter.
Franklin Resources holds 2,998K shares representing 2.55% ownership of the company. In it's prior filing, the firm reported owning 2,948K shares, representing an increase of 1.64%. The firm decreased its portfolio allocation in ALB by 99.98% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 2,728K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 2,699K shares, representing an increase of 1.06%. The firm decreased its portfolio allocation in ALB by 23.87% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 2,708K shares representing 2.31% ownership of the company. In it's prior filing, the firm reported owning 2,655K shares, representing an increase of 1.96%. The firm decreased its portfolio allocation in ALB by 22.94% over the last quarter.
Albemarle Background Information
(This description is provided by the company.)
Albemarle Corporation, headquartered in Charlotte, N.C., is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. We think beyond business-as-usual to power the potential of companies in many of the world's largest and most critical industries, such as energy, electronics, and transportation. Albemarle Corporation actively pursue a sustainable approach to managing our diverse global footprint of world-class resources. In conjunction with our highly experienced and talented global teams, our deep-seated values, and our collaborative customer relationships, the company creates value-added and performance-based solutions that enable a safer and more sustainable future.See all Albemarle regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.