Bbva Compass Bancshares Inc. cut its stake in shares of Albemarle Corporation (NYSE:ALB) by 5.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,759 shares of the specialty chemicals company’s stock after selling 425 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Albemarle Corporation were worth $819,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ALB. Carroll Financial Associates Inc. increased its position in Albemarle Corporation by 0.3% in the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 3 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Albemarle Corporation by 0.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,458 shares of the specialty chemicals company’s stock worth $154,000 after buying an additional 4 shares in the last quarter. Ferguson Wellman Capital Management Inc. increased its position in Albemarle Corporation by 1.0% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 3,534 shares of the specialty chemicals company’s stock worth $373,000 after buying an additional 34 shares in the last quarter. Wealthsource Partners LLC increased its position in Albemarle Corporation by 1.3% in the first quarter. Wealthsource Partners LLC now owns 2,795 shares of the specialty chemicals company’s stock worth $295,000 after buying an additional 35 shares in the last quarter. Finally, Contravisory Investment Management Inc. increased its position in Albemarle Corporation by 1.4% in the second quarter. Contravisory Investment Management Inc. now owns 2,773 shares of the specialty chemicals company’s stock worth $293,000 after buying an additional 39 shares in the last quarter. 86.17% of the stock is owned by hedge funds and other institutional investors.

Shares of Albemarle Corporation (NYSE ALB) opened at 119.60 on Friday. The stock’s 50 day moving average price is $111.82 and its 200-day moving average price is $105.71. The stock has a market cap of $13.25 billion, a PE ratio of 29.06 and a beta of 1.59. Albemarle Corporation has a one year low of $75.11 and a one year high of $119.99.

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

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, September 14th. Albemarle Corporation’s dividend payout ratio (DPR) is presently 31.22%.

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A number of research analysts have recently commented on ALB shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $120.00 price objective on shares of Albemarle Corporation in a research note on Friday, June 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price objective on shares of Albemarle Corporation in a research note on Thursday, June 29th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $132.00 price objective on shares of Albemarle Corporation in a research note on Tuesday, April 18th. Nomura reaffirmed a “buy” rating and set a $124.00 price objective on shares of Albemarle Corporation in a research note on Friday, May 5th. Finally, Zacks Investment Research raised shares of Albemarle Corporation from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research note on Friday, July 7th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $105.50.

In other news, Chairman Luther C. Iv Kissam sold 50,000 shares of the firm’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 of the company’s stock, valued at approximately $27,841,103.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott Tozier sold 25,000 shares of the firm’s stock in a transaction dated Friday, July 7th. The stock was 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 directly owns 57,506 shares of the company’s stock, valued at $6,333,135.78. The disclosure for this sale can be found here. Insiders have sold a total of 105,000 shares of company stock valued at $11,499,850 over the last ninety days. Company insiders own 0.74% of the company’s stock.

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.

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

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