Suntrust Banks Inc. lowered its position in shares of Albemarle Corporation (NYSE:ALB) by 4.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,663 shares of the specialty chemicals company’s stock after selling 743 shares during the quarter. Suntrust Banks Inc.’s holdings in Albemarle Corporation were worth $1,652,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Bluestein R H & Co. boosted its holdings in shares of Albemarle Corporation by 362.5% during the 2nd quarter. Bluestein R H & Co. now owns 23,125 shares of the specialty chemicals company’s stock valued at $2,441,000 after buying an additional 18,125 shares in the last quarter. Hanseatic Management Services Inc. grew its position in shares of Albemarle Corporation by 7.3% in the 2nd quarter. Hanseatic Management Services Inc. now owns 13,610 shares of the specialty chemicals company’s stock worth $1,436,000 after buying an additional 929 shares during the period. BBR Partners LLC grew its position in shares of Albemarle Corporation by 257.1% in the 2nd quarter. BBR Partners LLC now owns 16,318 shares of the specialty chemicals company’s stock worth $1,722,000 after buying an additional 11,749 shares during the period. ARK Investment Management LLC grew its position in shares of Albemarle Corporation by 104.6% in the 2nd quarter. ARK Investment Management LLC now owns 6,368 shares of the specialty chemicals company’s stock worth $672,000 after buying an additional 3,255 shares during the period. Finally, Quantbot Technologies LP grew its position in shares of Albemarle Corporation by 599.5% in the 2nd quarter. Quantbot Technologies LP now owns 20,593 shares of the specialty chemicals company’s stock worth $2,173,000 after buying an additional 17,649 shares during the period. 83.77% of the stock is owned by institutional investors and hedge funds.

In other Albemarle Corporation news, EVP Matthew Juneau sold 5,397 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $115.77, for a total value of $624,810.69. Following the completion of the sale, the executive vice president now directly owns 360 shares in the company, valued at $41,677.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Karen G. Narwold sold 11,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 36,620 shares of the company’s stock, valued at $4,246,089. The disclosure for this sale can be found here. Insiders have sold 91,897 shares of company stock valued at $10,215,486 in the last three months. 0.74% of the stock is currently owned by corporate insiders.

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

Albemarle Corporation (NYSE:ALB) last released its quarterly earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $735.50 million. During the same period last year, the business earned $0.93 EPS. The company’s revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts anticipate that Albemarle Corporation will post $4.37 EPS for the current year.

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

A number of research analysts recently issued reports on ALB shares. CIBC assumed coverage on shares of Albemarle Corporation in a research report on Thursday, August 17th. They set an “outperform” rating and a $133.00 price target for the company. Piper Jaffray Companies restated an “overweight” rating and issued a $47.00 price objective on shares of Albemarle Corporation in a report on Thursday, June 29th. SunTrust Banks, Inc. downgraded shares of Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 target price for the company. in a research note on Wednesday, August 9th. KeyCorp raised their target price on shares of Albemarle Corporation from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, June 12th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $125.00 target price on shares of Albemarle Corporation in a report on Wednesday, June 28th. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $115.11.

About Albemarle Corporation

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

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