Axxcess Wealth Management LLC Takes Position in Albemarle Co. (NYSE:ALB)

Axxcess Wealth Management LLC bought a new stake in Albemarle Co. (NYSE:ALBGet Rating) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,032 shares of the specialty chemicals company’s stock, valued at approximately $425,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALB. Covestor Ltd raised its stake in Albemarle by 51.2% during the first quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 44 shares during the period. Hazlett Burt & Watson Inc. acquired a new stake in Albemarle during the first quarter valued at approximately $35,000. Riverview Trust Co lifted its stake in Albemarle by 92.3% during the second quarter. Riverview Trust Co now owns 175 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 84 shares during the last quarter. CoreCap Advisors LLC acquired a new stake in Albemarle during the second quarter valued at approximately $39,000. Finally, MCF Advisors LLC acquired a new stake in Albemarle during the first quarter valued at approximately $45,000. Institutional investors and hedge funds own 81.80% of the company’s stock.

Albemarle Stock Performance

Shares of ALB opened at $283.90 on Thursday. The company’s fifty day moving average is $278.33 and its 200-day moving average is $254.57. Albemarle Co. has a 12 month low of $169.93 and a 12 month high of $334.55. The firm has a market cap of $33.26 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 0.84 and a beta of 1.41. The company has a quick ratio of 1.08, a current ratio of 1.73 and a debt-to-equity ratio of 0.45.

Albemarle (NYSE:ALBGet Rating) last posted its earnings results on Thursday, November 3rd. The specialty chemicals company reported $7.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.99 by $0.51. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.21 billion. Albemarle had a net margin of 27.77% and a return on equity of 26.84%. Albemarle’s revenue was up 151.9% compared to the same quarter last year. During the same period last year, the business posted $1.05 EPS. Equities analysts expect that Albemarle Co. will post 20.99 EPS for the current fiscal year.

Albemarle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th will be given a $0.395 dividend. The ex-dividend date is Thursday, December 15th. This represents a $1.58 annualized dividend and a yield of 0.56%. Albemarle’s dividend payout ratio is 11.98%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Oppenheimer reissued an “outperform” rating and set a $440.00 target price on shares of Albemarle in a research note on Wednesday, October 26th. Citigroup upped their price target on shares of Albemarle from $294.00 to $345.00 and gave the company a “buy” rating in a research report on Friday, September 9th. Credit Suisse Group upped their price target on shares of Albemarle from $196.00 to $200.00 and gave the company an “underperform” rating in a research report on Thursday, November 3rd. StockNews.com assumed coverage on shares of Albemarle in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, UBS Group upped their price target on shares of Albemarle from $218.00 to $265.00 and gave the company a “neutral” rating in a research report on Thursday, August 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Albemarle presently has a consensus rating of “Hold” and a consensus target price of $297.89.

Insiders Place Their Bets

In other Albemarle news, EVP Karen G. Narwold sold 2,250 shares of the firm’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $285.66, for a total value of $642,735.00. Following the sale, the executive vice president now directly owns 11,444 shares in the company, valued at approximately $3,269,093.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Karen G. Narwold sold 2,250 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $285.66, for a total transaction of $642,735.00. Following the completion of the transaction, the executive vice president now directly owns 11,444 shares of the company’s stock, valued at approximately $3,269,093.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Norris sold 2,390 shares of Albemarle stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $307.80, for a total transaction of $735,642.00. Following the transaction, the insider now directly owns 15,564 shares of the company’s stock, valued at $4,790,599.20. The disclosure for this sale can be found here. Insiders have sold 15,962 shares of company stock worth $4,911,107 in the last ninety days. Insiders own 0.25% of the company’s stock.

About Albemarle

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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.

Further Reading

Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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