Albemarle Co. (NYSE:ALB) Shares Purchased by AdvisorNet Financial Inc

AdvisorNet Financial Inc increased its position in shares of Albemarle Co. (NYSE:ALBGet Rating) by 41.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,662 shares of the specialty chemicals company’s stock after purchasing an additional 782 shares during the period. AdvisorNet Financial Inc’s holdings in Albemarle were worth $556,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Covestor Ltd grew its stake in shares of Albemarle by 51.2% during the 1st quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 44 shares during the period. Beech Hill Advisors Inc. boosted its position in shares of Albemarle by 1.9% in the 1st quarter. Beech Hill Advisors Inc. now owns 2,725 shares of the specialty chemicals company’s stock worth $603,000 after buying an additional 50 shares in the last quarter. Benedetti & Gucer Inc. boosted its position in shares of Albemarle by 5.9% in the 1st quarter. Benedetti & Gucer Inc. now owns 1,075 shares of the specialty chemicals company’s stock worth $237,000 after buying an additional 60 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Albemarle by 9.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 792 shares of the specialty chemicals company’s stock worth $175,000 after buying an additional 66 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. boosted its position in shares of Albemarle by 21.9% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 390 shares of the specialty chemicals company’s stock worth $86,000 after buying an additional 70 shares in the last quarter. 81.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on ALB shares. Citigroup boosted their price objective on shares of Albemarle from $294.00 to $345.00 and gave the stock a “buy” rating in a research report on Friday, September 9th. Wells Fargo & Company boosted their price objective on shares of Albemarle from $285.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 24th. Oppenheimer upped their target price on shares of Albemarle from $368.00 to $440.00 and gave the company an “outperform” rating in a report on Monday, August 8th. KeyCorp upgraded shares of Albemarle from an “underweight” rating to a “sector weight” rating in a report on Wednesday, July 20th. Finally, Credit Suisse Group upped their target price on shares of Albemarle from $185.00 to $196.00 and gave the company an “underperform” rating in a report on Thursday, August 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $284.45.

Albemarle Stock Up 0.2 %

ALB opened at $287.32 on Monday. Albemarle Co. has a 1 year low of $169.93 and a 1 year high of $308.24. The firm has a 50 day moving average price of $255.35 and a 200 day moving average price of $230.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.20 and a current ratio of 1.88. The company has a market cap of $33.65 billion, a PE ratio of 129.42, a price-to-earnings-growth ratio of 0.43 and a beta of 1.52.

Albemarle (NYSE:ALBGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The specialty chemicals company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.66. Albemarle had a net margin of 6.08% and a return on equity of 15.39%. During the same period last year, the company earned $0.89 earnings per share. Sell-side analysts expect that Albemarle Co. will post 21.22 earnings per share for the current year.

Albemarle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 16th will be paid a dividend of $0.395 per share. The ex-dividend date is Thursday, September 15th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 0.55%. Albemarle’s dividend payout ratio is currently 71.17%.

Albemarle Company Profile

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Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use 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 in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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