ETRADE Capital Management LLC trimmed its stake in Albemarle Corporation (NYSE:ALB) by 0.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,574 shares of the specialty chemicals company’s stock after selling 9 shares during the period. ETRADE Capital Management LLC’s holdings in Albemarle Corporation were worth $272,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ALB. Northwestern Mutual Wealth Management Co. lifted its holdings in Albemarle Corporation by 2.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock worth $102,000 after purchasing an additional 20 shares during the last quarter. Carroll Financial Associates Inc. grew its holdings in Albemarle Corporation by 0.3% during the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock valued at $103,000 after purchasing an additional 3 shares during the last quarter. Smithfield Trust Co. grew its holdings in Albemarle Corporation by 16.1% during the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock valued at $106,000 after purchasing an additional 140 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Albemarle Corporation by 0.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,458 shares of the specialty chemicals company’s stock valued at $154,000 after purchasing an additional 4 shares during the last quarter. Finally, Copper Rock Capital Partners LLC grew its holdings in Albemarle Corporation by 303.3% during the second quarter. Copper Rock Capital Partners LLC now owns 1,944 shares of the specialty chemicals company’s stock valued at $167,000 after purchasing an additional 1,462 shares during the last quarter. 83.77% of the stock is currently owned by institutional investors and hedge funds.

ALB has been the subject of a number of analyst reports. KeyCorp restated a “buy” rating and issued a $125.00 price objective on shares of Albemarle Corporation in a research note on Sunday, September 3rd. Zacks Investment Research lowered shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Oppenheimer Holdings, Inc. started coverage on shares of Albemarle Corporation in a research note on Wednesday, August 16th. They issued an “outperform” rating and a $133.00 target price on the stock. Instinet lifted their target price on shares of Albemarle Corporation from $134.00 to $146.00 and gave the stock a “buy” rating in a report on Monday, September 18th. Finally, Aegis reiterated a “buy” rating on shares of Albemarle Corporation in a report on Friday, July 7th. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Albemarle Corporation has a consensus rating of “Buy” and a consensus target price of $115.11.

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In other news, EVP Karen G. Narwold sold 11,500 shares of Albemarle Corporation stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $115.95, for a total transaction of $1,333,425.00. Following the completion of the transaction, the executive vice president now directly owns 36,620 shares in the company, valued at $4,246,089. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott Tozier sold 25,000 shares of Albemarle Corporation stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $110.13, for a total transaction of $2,753,250.00. Following the transaction, the chief financial officer now owns 57,506 shares of the company’s stock, valued at $6,333,135.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,897 shares of company stock worth $10,215,486. Corporate insiders own 0.74% of the company’s stock.

Shares of Albemarle Corporation (NYSE:ALB) opened at 136.31 on Monday. The stock’s 50 day moving average price is $117.92 and its 200-day moving average price is $111.37. Albemarle Corporation has a 52-week low of $76.32 and a 52-week high of $137.48. The company has a market capitalization of $15.06 billion, a PE ratio of 17.43 and a beta of 1.66.

Albemarle Corporation (NYSE:ALB) last posted its quarterly earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.02. Albemarle Corporation had a net margin of 31.49% and a return on equity of 11.59%. The business had revenue of $737.25 million during the quarter, compared to the consensus estimate of $735.50 million. During the same quarter last year, the firm posted $0.93 EPS. Albemarle Corporation’s revenue was up 10.1% compared to the same quarter last year. On average, analysts expect that Albemarle Corporation will post $4.37 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.28 annualized dividend and a yield of 0.94%. Albemarle Corporation’s payout ratio is 16.41%.

Albemarle Corporation Profile

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.

Institutional Ownership by Quarter for Albemarle Corporation (NYSE:ALB)

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