We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Albemarle to Sell Portion of Performance Catalysts Unit
Read MoreHide Full Article
Albemarle Corporation (ALB - Free Report) entered into a definitive agreement to divest its polyolefin catalysts and components business to W.R. Grace & Co. in a cash deal valued at roughly $416 million. The deal, which is subject to regulatory approvals and other customary closing conditions, is expected to close during the first quarter of 2018.
Per the terms of the deal, the curatives and organometallics portions of the Performance Catalysts Solutions business will remain with Albemarle. Grace will assume the operations and lease at the Product Development Center in Baton Rouge, LA, and operations at the Yeosu site in South Korea.
Per Albemarle, this move demonstrates its continued commitment toward portfolio management in the best interest of shareholders and employees. Grace is well-placed to drive the polyolefin catalysts and components business toward success, the company added.
Shares of Albemarle have rallied 18.1% in the past six months, outperforming the industry’s 13.9% growth.
In November, Albemarle raised its guidance for 2017 and the company now expects full-year net sales of between $3 billion and $3.05 billion (compared with the prior view of $2.90-$3.05 billion), adjusted earnings per share between $4.40 and $4.50 (compared with the prior view of $4.20 and $4.40) and adjusted EBITDA of $860-$875 million (compared with $835-$875 million expected earlier).
Albemarle remains focused on strengthening its lithium business. The company is well placed to leverage strong expected growth in the battery-grade lithium market. Albemarle is executing a number of projects that are likely to boost its global lithium derivative capacity to 165,000 metric tons by 2021.
Additionally, Albemarle’s strategy to sell non-core businesses and assets is likely to boost its growth opportunities and focus on its key businesses.
Westlake Chemical has an expected long-term earnings growth rate of 10.6%. Its shares have moved up 80.3% year to date.
Daqo New Energy has an expected long-term earnings growth rate of 7%. Its shares have surged a whopping 142.7% year to date.
Kronos Worldwide has an expected long-term earnings growth rate of 5%. Its shares have rallied 109.6% year to date.
Investor Alert: Breakthroughs Pending
A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.
Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.
Image: Bigstock
Albemarle to Sell Portion of Performance Catalysts Unit
Albemarle Corporation (ALB - Free Report) entered into a definitive agreement to divest its polyolefin catalysts and components business to W.R. Grace & Co. in a cash deal valued at roughly $416 million. The deal, which is subject to regulatory approvals and other customary closing conditions, is expected to close during the first quarter of 2018.
Per the terms of the deal, the curatives and organometallics portions of the Performance Catalysts Solutions business will remain with Albemarle. Grace will assume the operations and lease at the Product Development Center in Baton Rouge, LA, and operations at the Yeosu site in South Korea.
Per Albemarle, this move demonstrates its continued commitment toward portfolio management in the best interest of shareholders and employees. Grace is well-placed to drive the polyolefin catalysts and components business toward success, the company added.
Shares of Albemarle have rallied 18.1% in the past six months, outperforming the industry’s 13.9% growth.
In November, Albemarle raised its guidance for 2017 and the company now expects full-year net sales of between $3 billion and $3.05 billion (compared with the prior view of $2.90-$3.05 billion), adjusted earnings per share between $4.40 and $4.50 (compared with the prior view of $4.20 and $4.40) and adjusted EBITDA of $860-$875 million (compared with $835-$875 million expected earlier).
Albemarle remains focused on strengthening its lithium business. The company is well placed to leverage strong expected growth in the battery-grade lithium market. Albemarle is executing a number of projects that are likely to boost its global lithium derivative capacity to 165,000 metric tons by 2021.
Additionally, Albemarle’s strategy to sell non-core businesses and assets is likely to boost its growth opportunities and focus on its key businesses.
Albemarle Corporation Price and Consensus
Albemarle Corporation Price and Consensus | Albemarle Corporation Quote
Zacks Rank & Other Stocks to Consider
Albemarle currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the basic materials space are Westlake Chemical Corporation (WLK - Free Report) , Daqo New Energy Corp. (DQ - Free Report) and Kronos Worldwide Inc. (KRO - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Westlake Chemical has an expected long-term earnings growth rate of 10.6%. Its shares have moved up 80.3% year to date.
Daqo New Energy has an expected long-term earnings growth rate of 7%. Its shares have surged a whopping 142.7% year to date.
Kronos Worldwide has an expected long-term earnings growth rate of 5%. Its shares have rallied 109.6% year to date.
Investor Alert: Breakthroughs Pending
A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.
Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.
Click here to see them >>