Eqis Capital Management Inc. Has $635,000 Position in Albemarle Co. (ALB)

Eqis Capital Management Inc. Has $635,000 Position in Albemarle Co. (ALB)

Eqis Capital Management Inc. increased its position in shares of Albemarle Co. (NYSE:ALB) by 25.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,010 shares of the specialty chemicals company’s stock after buying an additional 1,212 shares during the period. Eqis Capital Management Inc.’s holdings in Albemarle were worth $635,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ALB. State Street Corp raised its stake in Albemarle by 3.0% in the fourth quarter. State Street Corp now owns 6,326,177 shares of the specialty chemicals company’s stock worth $544,643,000 after buying an additional 186,320 shares during the period. Jennison Associates LLC raised its stake in Albemarle by 14.0% in the first quarter. Jennison Associates LLC now owns 5,705,825 shares of the specialty chemicals company’s stock worth $602,763,000 after buying an additional 702,388 shares during the period. Northern Trust Corp raised its stake in Albemarle by 5.1% in the third quarter. Northern Trust Corp now owns 1,312,071 shares of the specialty chemicals company’s stock worth $112,169,000 after buying an additional 63,469 shares during the period. Putnam Investments LLC raised its stake in Albemarle by 12.3% in the fourth quarter. Putnam Investments LLC now owns 1,234,882 shares of the specialty chemicals company’s stock worth $106,299,000 after buying an additional 135,205 shares during the period. Finally, Columbus Circle Investors raised its stake in Albemarle by 10.0% in the first quarter. Columbus Circle Investors now owns 1,110,457 shares of the specialty chemicals company’s stock worth $117,309,000 after buying an additional 100,823 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Shares of Albemarle Co. (NYSE:ALB) traded up 1.20% on Friday, reaching $110.01. The company had a trading volume of 1,116,535 shares. The firm has a 50-day moving average price of $106.05 and a 200 day moving average price of $94.23. The firm has a market capitalization of $12.38 billion, a price-to-earnings ratio of 19.35 and a beta of 1.41. Albemarle Co. has a 1-year low of $66.67 and a 1-year high of $112.73.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, May 3rd. The specialty chemicals company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.10. The company earned $722.06 million during the quarter, compared to the consensus estimate of $678.74 million. Albemarle had a return on equity of 14.38% and a net margin of 6.92%. Equities research analysts predict that Albemarle Co. will post $4.18 earnings per share for the current year.

ALB has been the subject of a number of analyst reports. Royal Bank of Canada initiated coverage on Albemarle in a research report on Thursday, February 23rd. They issued an “outperform” rating and a $114.00 price target for the company. Zacks Investment Research lowered Albemarle from a “buy” rating to a “hold” rating in a research report on Monday, April 24th. Instinet upped their price target on Albemarle from $92.00 to $102.00 and gave the company a “buy” rating in a research report on Friday, January 6th. Citigroup Inc lowered Albemarle from a “buy” rating to a “neutral” rating and upped their price target for the company from $104.77 to $112.00 in a research report on Monday, March 6th. They noted that the move was a valuation call. Finally, Jefferies Group LLC restated a “buy” rating and issued a $120.00 price target on shares of Albemarle in a research report on Tuesday, April 4th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $113.91.

About Albemarle

Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.

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