Albemarle Co. (NYSE:ALB) Shares Sold by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. trimmed its position in shares of Albemarle Co. (NYSE:ALBGet Rating) by 20.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,025 shares of the specialty chemicals company’s stock after selling 259 shares during the period. J.W. Cole Advisors Inc.’s holdings in Albemarle were worth $227,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ALB. Bank of America Corp DE boosted its stake in Albemarle by 181.3% during the 1st quarter. Bank of America Corp DE now owns 1,489,347 shares of the specialty chemicals company’s stock valued at $329,369,000 after acquiring an additional 959,810 shares during the last quarter. Walleye Capital LLC boosted its stake in Albemarle by 170.7% during the 1st quarter. Walleye Capital LLC now owns 5,684 shares of the specialty chemicals company’s stock valued at $1,257,000 after acquiring an additional 3,584 shares during the last quarter. Fortitude Advisory Group L.L.C. boosted its stake in Albemarle by 111.8% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 773 shares of the specialty chemicals company’s stock valued at $171,000 after acquiring an additional 408 shares during the last quarter. Advisory Services Network LLC boosted its stake in Albemarle by 22.6% during the 1st quarter. Advisory Services Network LLC now owns 12,084 shares of the specialty chemicals company’s stock valued at $2,672,000 after acquiring an additional 2,224 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in Albemarle by 15.7% during the 1st quarter. Neuberger Berman Group LLC now owns 7,877 shares of the specialty chemicals company’s stock valued at $1,742,000 after acquiring an additional 1,068 shares during the last quarter. 81.80% of the stock is owned by institutional investors and hedge funds.

Albemarle Stock Performance

Albemarle stock opened at $285.03 on Thursday. The firm’s 50 day simple moving average is $260.91 and its 200-day simple moving average is $231.68. The company has a market cap of $33.39 billion, a P/E ratio of 128.39, a price-to-earnings-growth ratio of 0.44 and a beta of 1.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.88 and a quick ratio of 1.20. Albemarle Co. has a fifty-two week low of $169.93 and a fifty-two week high of $308.24.

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

Albemarle Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have commented on ALB shares. UBS Group increased their price objective on shares of Albemarle from $218.00 to $265.00 and gave the company a “neutral” rating in a research note on Thursday, August 4th. Oppenheimer raised their price target on shares of Albemarle from $368.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday, August 8th. Citigroup raised their price target 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. Deutsche Bank Aktiengesellschaft raised their price target on shares of Albemarle from $255.00 to $270.00 in a research report on Monday, August 8th. Finally, KeyCorp upgraded shares of Albemarle from an “underweight” rating to a “sector weight” rating in a research report on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $284.45.

Albemarle 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.

See Also

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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