Bogart Wealth LLC Purchases 490 Shares of Albemarle Co. (NYSE:ALB)

Bogart Wealth LLC increased its holdings in shares of Albemarle Co. (NYSE:ALB) by 138.0% in the third quarter, HoldingsChannel reports. The firm owned 845 shares of the specialty chemicals company’s stock after buying an additional 490 shares during the period. Bogart Wealth LLC’s holdings in Albemarle were worth $80,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. AdvisorNet Financial Inc raised its holdings in Albemarle by 365.0% in the 1st quarter. AdvisorNet Financial Inc now owns 1,051 shares of the specialty chemicals company’s stock valued at $138,000 after acquiring an additional 825 shares during the period. Sovereign Financial Group Inc. bought a new position in shares of Albemarle during the first quarter worth approximately $272,000. Wealthcare Advisory Partners LLC raised its position in shares of Albemarle by 5.5% in the first quarter. Wealthcare Advisory Partners LLC now owns 5,501 shares of the specialty chemicals company’s stock valued at $725,000 after buying an additional 286 shares in the last quarter. 180 Wealth Advisors LLC boosted its stake in shares of Albemarle by 18.5% in the first quarter. 180 Wealth Advisors LLC now owns 3,852 shares of the specialty chemicals company’s stock valued at $507,000 after buying an additional 601 shares during the period. Finally, Norway Savings Bank grew its position in Albemarle by 30.8% during the first quarter. Norway Savings Bank now owns 3,420 shares of the specialty chemicals company’s stock worth $451,000 after buying an additional 805 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ALB shares. Piper Sandler cut their target price on Albemarle from $95.00 to $90.00 and set an “underweight” rating for the company in a research report on Thursday, August 8th. Robert W. Baird lowered shares of Albemarle from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $102.00 to $85.00 in a report on Monday, August 5th. KeyCorp cut their price target on shares of Albemarle from $151.00 to $132.00 and set an “overweight” rating for the company in a report on Monday, August 5th. HSBC cut shares of Albemarle from a “buy” rating to a “hold” rating and set a $95.00 price objective on the stock. in a research note on Wednesday, July 17th. Finally, Oppenheimer cut their target price on Albemarle from $188.00 to $178.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $117.60.

Albemarle Trading Up 1.3 %

ALB opened at $95.17 on Friday. Albemarle Co. has a twelve month low of $71.97 and a twelve month high of $153.54. The company has a fifty day moving average of $91.07 and a 200-day moving average of $102.23. The stock has a market cap of $11.19 billion, a PE ratio of 34.61, a price-to-earnings-growth ratio of 13.81 and a beta of 1.54. The company has a quick ratio of 1.75, a current ratio of 2.67 and a debt-to-equity ratio of 0.38.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, July 31st. The specialty chemicals company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.49). Albemarle had a positive return on equity of 6.38% and a negative net margin of 6.72%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business posted $7.33 earnings per share. The business’s revenue was down 39.7% on a year-over-year basis. On average, sell-side analysts predict that Albemarle Co. will post 0.46 EPS for the current year.

Albemarle Company Profile

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.