Shares of Albemarle Corp. (NYSE:ALB) were down 3.2% during mid-day trading on Thursday . The company traded as low as $83.85 and last traded at $83.87, with a volume of 673,754 shares trading hands. The stock had previously closed at $86.62.

A number of analysts have recently issued reports on ALB shares. Zacks Investment Research raised shares of Albemarle Corp. from a “hold” rating to a “strong-buy” rating and set a $88.00 target price for the company in a research note on Monday, May 16th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $67.00 price objective on shares of Albemarle Corp. in a research note on Monday, April 25th. Deutsche Bank AG upped their price objective on shares of Albemarle Corp. from $62.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, April 1st. Citigroup Inc. upped their price objective on shares of Albemarle Corp. from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, April 18th. Finally, Nomura Holdings Inc. reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Albemarle Corp. in a research note on Monday, May 23rd. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Albemarle Corp. has an average rating of “Buy” and a consensus target price of $78.33.

The company has a market cap of $9.46 billion and a PE ratio of 18.28. The stock’s 50-day moving average is $81.72 and its 200-day moving average is $66.23.

Albemarle Corp. (NYSE:ALB) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.26. During the same period in the previous year, the business posted $1.17 earnings per share. The business had revenue of $865.40 million for the quarter, compared to analyst estimates of $821.64 million. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. Analysts forecast that Albemarle Corp. will post $4.15 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Tuesday, September 13th.

In other Albemarle Corp. news, Director John Sherman, Jr. sold 2,025 shares of Albemarle Corp. stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $75.73, for a total value of $153,353.25. Following the completion of the transaction, the director now directly owns 1,850 shares of the company’s stock, valued at approximately $140,100.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Donald J. Jr. Labauve sold 3,564 shares of Albemarle Corp. stock in a transaction dated Thursday, May 12th. The shares were sold at an average price of $75.34, for a total value of $268,511.76. Following the completion of the transaction, the chief accounting officer now directly owns 3,464 shares of the company’s stock, valued at $260,977.76. The disclosure for this sale can be found here.

A number of institutional investors have recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D purchased a new position in Albemarle Corp. during the fourth quarter valued at $41,447,000. Schroder Investment Management Group bought a new position in shares of Albemarle Corp. during the fourth quarter valued at about $30,479,000. New Amsterdam Partners LLC NY bought a new position in shares of Albemarle Corp. during the fourth quarter valued at about $15,362,000. Vanguard Group Inc. boosted its position in shares of Albemarle Corp. by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 8,544,353 shares of the company’s stock valued at $478,569,000 after buying an additional 256,667 shares during the last quarter. Finally, Skba Capital Management LLC boosted its position in shares of Albemarle Corp. by 179.2% in the fourth quarter. Skba Capital Management LLC now owns 293,200 shares of the company’s stock valued at $16,422,000 after buying an additional 188,200 shares during the last quarter.

Albemarle Corporation is a developer, manufacturer and marketer of specialty chemicals across a range of end markets, including the petroleum refining, consumer electronics, energy storage, construction, automotive, steel and aerospace, lubricants, pharmaceuticals, heating, ventilation, and aluminum finishing.

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