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

A number of research firms have commented on ALB. Zacks Investment Research downgraded Albemarle Corp. from a “strong-buy” rating to a “hold” rating in a report on Monday, July 18th. Citigroup Inc. restated a “buy” rating and issued a $101.00 price target (up previously from $89.00) on shares of Albemarle Corp. in a research report on Friday, July 15th. Nomura Holdings Inc. restated a “buy” rating on shares of Albemarle Corp. in a research report on Tuesday, July 12th. Nomura restated a “buy” rating and issued a $85.00 price target on shares of Albemarle Corp. in a research report on Tuesday, July 12th. Finally, Morgan Stanley restated a “hold” rating on shares of Albemarle Corp. in a research report on Thursday, June 16th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Albemarle Corp. presently has an average rating of “Buy” and an average price target of $78.33.

The company’s 50 day moving average is $81.99 and its 200-day moving average is $66.57. The firm has a market capitalization of $9.55 billion and a P/E ratio of 18.44.

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

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be issued a $0.305 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.22 annualized dividend and a dividend yield of 1.44%.

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

Other hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC raised its stake in shares of Albemarle Corp. by 24.1% in the fourth quarter. ProShare Advisors LLC now owns 26,598 shares of the company’s stock valued at $1,490,000 after buying an additional 5,173 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Albemarle Corp. by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,531 shares of the company’s stock valued at $1,822,000 after buying an additional 139 shares during the period. South Dakota Investment Council raised its stake in shares of Albemarle Corp. by 18.1% in the fourth quarter. South Dakota Investment Council now owns 36,500 shares of the company’s stock valued at $2,044,000 after buying an additional 5,600 shares during the period. Gulf International Bank UK Ltd raised its stake in shares of Albemarle Corp. by 0.8% in the fourth quarter. Gulf International Bank UK Ltd now owns 37,729 shares of the company’s stock valued at $2,113,000 after buying an additional 300 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Albemarle Corp. by 67.6% in the fourth quarter. First Trust Advisors LP now owns 38,852 shares of the company’s stock valued at $2,176,000 after buying an additional 15,669 shares during the period.

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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