AdvisorNet Financial Inc Purchases 825 Shares of Albemarle Co. (NYSE:ALB)

AdvisorNet Financial Inc increased its position in shares of Albemarle Co. (NYSE:ALB) by 365.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,051 shares of the specialty chemicals company’s stock after acquiring an additional 825 shares during the period. AdvisorNet Financial Inc’s holdings in Albemarle were worth $138,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ALB. USCF Advisers LLC raised its position in shares of Albemarle by 100.0% in the fourth quarter. USCF Advisers LLC now owns 200 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 100 shares in the last quarter. Arlington Trust Co LLC bought a new position in shares of Albemarle in the 4th quarter worth $30,000. Tyler Stone Wealth Management bought a new position in shares of Albemarle in the 3rd quarter worth $35,000. Jones Financial Companies Lllp raised its position in shares of Albemarle by 2,942.9% during the 4th quarter. Jones Financial Companies Lllp now owns 213 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 206 shares in the last quarter. Finally, VisionPoint Advisory Group LLC grew its position in Albemarle by 21,400.0% in the third quarter. VisionPoint Advisory Group LLC now owns 215 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 214 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Stock Up 8.1 %

Shares of NYSE ALB opened at $100.28 on Thursday. Albemarle Co. has a 12 month low of $92.29 and a 12 month high of $247.44. The firm has a market capitalization of $11.79 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 2.80 and a beta of 1.61. The firm has a fifty day simple moving average of $118.14 and a two-hundred day simple moving average of $123.97. The company has a current ratio of 2.84, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.09). The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.29 billion. Albemarle had a net margin of 4.02% and a return on equity of 14.53%. The company’s revenue for the quarter was down 47.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.32 earnings per share. Equities analysts expect that Albemarle Co. will post 2.07 earnings per share for the current year.

Albemarle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $0.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.60%. Albemarle’s dividend payout ratio is currently 58.18%.

Analysts Set New Price Targets

A number of research firms have weighed in on ALB. Loop Capital lowered their price target on Albemarle from $168.00 to $162.00 and set a “buy” rating on the stock in a research report on Friday, March 15th. Citigroup upped their target price on Albemarle from $125.00 to $135.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. UBS Group decreased their price target on shares of Albemarle from $132.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, June 13th. Wells Fargo & Company increased their target price on shares of Albemarle from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Scotiabank reissued a “sector perform” rating and issued a $135.00 price target (down from $150.00) on shares of Albemarle in a research note on Tuesday, May 21st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $155.78.

Insider Buying and Selling

In other Albemarle news, SVP Mark Richard Mummert sold 843 shares of Albemarle stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $135.53, for a total transaction of $114,251.79. Following the completion of the transaction, the senior vice president now owns 6,802 shares in the company, valued at $921,875.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Albemarle news, CAO John Clarence Barichivich III sold 1,475 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $132.17, for a total value of $194,950.75. Following the completion of the transaction, the chief accounting officer now owns 4,743 shares of the company’s stock, valued at approximately $626,882.31. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Mark Richard Mummert sold 843 shares of Albemarle stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $135.53, for a total value of $114,251.79. Following the completion of the sale, the senior vice president now directly owns 6,802 shares of the company’s stock, valued at approximately $921,875.06. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.