AdvisorNet Financial Inc lifted its holdings in Albemarle Co. (NYSE:ALB – Get 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 (NYSE:ALB – Get 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%.
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.
- Get a free copy of the StockNews.com research report on Albemarle (ALB)
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