AdvisorNet Financial Inc Increases Position in Albemarle Co. (NYSE:ALB)

AdvisorNet Financial Inc lifted its holdings in Albemarle Co. (NYSE:ALBGet Rating) by 41.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,662 shares of the specialty chemicals company’s stock after buying 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 reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sei Investments Co. boosted its stake in shares of Albemarle by 17.7% in the 1st quarter. Sei Investments Co. now owns 204,285 shares of the specialty chemicals company’s stock worth $45,163,000 after buying an additional 30,663 shares during the last quarter. KG&L Capital Management LLC boosted its stake in shares of Albemarle by 88.3% in the 1st quarter. KG&L Capital Management LLC now owns 2,856 shares of the specialty chemicals company’s stock worth $632,000 after buying an additional 1,339 shares during the last quarter. Ibex Investors LLC purchased a new position in shares of Albemarle in the 1st quarter worth approximately $597,000. Williams Jones Wealth Management LLC. lifted its stake in Albemarle by 5.1% in the first quarter. Williams Jones Wealth Management LLC. now owns 103,972 shares of the specialty chemicals company’s stock valued at $22,993,000 after purchasing an additional 5,040 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in Albemarle by 34.7% in the first quarter. Cerity Partners LLC now owns 2,549 shares of the specialty chemicals company’s stock valued at $563,000 after purchasing an additional 656 shares during the last quarter. Hedge funds and other institutional investors own 81.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Oppenheimer upped their price objective on Albemarle from $368.00 to $440.00 and gave the company an “outperform” rating in a research note on Monday, August 8th. Wells Fargo & Company upped their price objective on Albemarle from $285.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, May 24th. Credit Suisse Group upped their price objective on Albemarle from $185.00 to $196.00 and gave the company an “underperform” rating in a research note on Thursday, August 4th. StockNews.com upgraded Albemarle from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Albemarle from $255.00 to $270.00 in a research note on Monday, August 8th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Albemarle currently has an average rating of “Hold” and an average target price of $284.45.

Albemarle Trading Up 0.2 %

Albemarle stock opened at $287.32 on Monday. The stock has a market cap of $33.65 billion, a P/E ratio of 129.42, a PEG ratio of 0.43 and a beta of 1.52. Albemarle Co. has a fifty-two week low of $169.93 and a fifty-two week high of $308.24. The firm’s fifty day moving average price is $255.35 and its 200-day moving average price is $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.

Albemarle (NYSE:ALBGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The specialty chemicals company reported $3.45 earnings per share 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 in the previous year, the company earned $0.89 EPS. Equities research analysts forecast that Albemarle Co. will post 21.22 earnings per share for the current fiscal year.

Albemarle Announces Dividend

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

About Albemarle

(Get Rating)

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.

Recommended Stories

Want to see what other hedge funds are holding ALB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Albemarle Co. (NYSE:ALBGet Rating).

Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.