Revenue Update on Albemarle Corporation(NYSE:ALB)

Albemarle Corporation(NYSE:ALB) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $669.33M. Analysts estimated a revenue of $860.49M. Earnings per share were $0.93. Analysts had estimated an EPS of $1.01.

In a different note, On Jul 15, 2016, Citigroup said it Maintains its rating on Albemarle Corporation. In the research note, the firm Raises the price-target to $89.00 per share. The shares have been rated ‘Buy’ by the firm. On May 12, 2016, Citigroup said it Maintains its rating on Albemarle Corporation. In the research note, the firm Raises the price-target to $76.00 per share. The shares have been rated ‘Buy’ by the firm. On May 12, 2016, Deutsche Bank said it Maintains its rating on Albemarle Corporation. In the research note, the firm Raises the price-target to $72.00 per share. The shares have been rated ‘Buy’ by the firm. On May 12, 2016, Jefferies said it Maintains its rating on Albemarle Corporation. In the research note, the firm Raises the price-target to $75.00 per share. The shares have been rated ‘Buy’ by the firm. On May 12, 2016, SunTrust Robinson Humphrey said it Maintains its rating on Albemarle Corporation. In the research note, the firm Raises the price-target to $62.00 per share. The shares have been rated ‘Buy’ by the firm.

Albemarle Corporation (ALB) made into the market gainers list on Fridays trading session with the shares advancing 0.52% or 0.43 points. Due to strong positive momentum, the stock ended at $83.01, which is also near the day’s high of $83.73. The stock began the session at $82.41 and the volume stood at 11,39,558 shares. The 52-week high of the shares is $87.29 and the 52 week low is $41.37. The company has a current market capitalization of $9,331 M and it has 11,24,03,118 shares in outstanding.

Albemarle Corporation has also declared a cash dividend of $0.3050 on Jul 11, 2016. The shares will quote ex-dividend on Sep 13, 2016 and the record date has been fixed on Sep 15, 2016. The dividend payable date has been fixed on Oct 3, 2016.

Several Insider Transactions has been reported to the SEC. On May 13, 2016, Matthew Juneau (Sr VP, Corp Strategy & IR) sold 13,174 shares at $75.34 per share price.Also, On May 13, 2016, John Jr Sherman (director) sold 2,025 shares at $75.73 per share price.On May 13, 2016, Donald J. Jr. Labauve (VP, Corporate Controller & CAO) sold 3,564 shares at $75.35 per share price, according to the Form-4 filing with the securities and exchange commission.

Albemarle Corporation (Albemarle) is a developer manufacturer and marketer of specialty chemicals across a range of end markets including the petroleum refining consumer electronics plastics/packaging construction automotive lubricants pharmaceuticals crop protection food-safety and custom chemistry services markets. The Company operates through two segments: Performance Chemicals and Catalyst Solutions. As of December 31 2014 the Performance Chemicals segment includes the Fire Safety Solutions Specialty Chemicals and Fine Chemistry Services product categories. As of December 31 2014 the Catalyst Solutions segment includes the Refinery Catalyst Solutions and Performance Catalyst Solutions product categories.

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