Louisiana State Employees Retirement System continued to hold its stake in Albemarle Corporation (NYSE:ALB) during the second quarter, according to its most recent filing with the SEC. The fund owned 6,900 shares of the specialty chemicals company’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in Albemarle Corporation were worth $728,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. raised its stake in Albemarle Corporation by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,454 shares of the specialty chemicals company’s stock valued at $154,000 after buying an additional 5 shares during the last quarter. Van ECK Associates Corp raised its stake in Albemarle Corporation by 18.7% in the first quarter. Van ECK Associates Corp now owns 1,614 shares of the specialty chemicals company’s stock valued at $171,000 after buying an additional 254 shares during the last quarter. Cullinan Associates Inc. purchased a new stake in Albemarle Corporation during the first quarter valued at about $201,000. Conning Inc. purchased a new stake in Albemarle Corporation during the first quarter valued at about $205,000. Finally, Pacer Advisors Inc. raised its stake in Albemarle Corporation by 3.5% in the first quarter. Pacer Advisors Inc. now owns 1,944 shares of the specialty chemicals company’s stock valued at $205,000 after buying an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 86.17% of the company’s stock.

Albemarle Corporation (NYSE ALB) traded up 0.67% during trading on Friday, reaching $119.60. 1,077,406 shares of the company traded hands. The firm has a market capitalization of $13.25 billion, a price-to-earnings ratio of 29.06 and a beta of 1.59. Albemarle Corporation has a 52 week low of $75.11 and a 52 week high of $119.99. The company’s 50-day moving average price is $111.82 and its 200 day moving average price is $105.71.

Albemarle Corporation (NYSE:ALB) last released its quarterly earnings results on Wednesday, May 3rd. The specialty chemicals company reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.10. The business had revenue of $722.06 million during the quarter, compared to the consensus estimate of $678.74 million. Albemarle Corporation had a return on equity of 11.97% and a net margin of 17.02%. On average, equities research analysts expect that Albemarle Corporation will post $4.37 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.07%. Albemarle Corporation’s dividend payout ratio is currently 31.22%.

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Several analysts have recently issued reports on the stock. BidaskClub lowered shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank Of Canada reiterated a “buy” rating and issued a $136.00 target price on shares of Albemarle Corporation in a research note on Friday, July 14th. Zacks Investment Research lowered shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday. Aegis reiterated a “buy” rating on shares of Albemarle Corporation in a research note on Friday, July 7th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $47.00 target price on shares of Albemarle Corporation in a research note on Thursday, June 29th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Albemarle Corporation has an average rating of “Buy” and an average price target of $104.80.

In other Albemarle Corporation news, Chairman Luther C. Iv Kissam sold 50,000 shares of the business’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $110.08, for a total transaction of $5,504,000.00. Following the completion of the sale, the chairman now directly owns 252,917 shares in the company, valued at approximately $27,841,103.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Scott Tozier sold 25,000 shares of the business’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $110.13, for a total value of $2,753,250.00. Following the sale, 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. Over the last 90 days, insiders have sold 105,000 shares of company stock valued at $11,499,850. Corporate insiders own 0.74% of the company’s stock.

Albemarle Corporation Company 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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