Bank of Montreal Can decreased its stake in Albemarle Corporation (NYSE:ALB) by 5.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 31,428 shares of the specialty chemicals company’s stock after selling 1,705 shares during the period. Bank of Montreal Can’s holdings in Albemarle Corporation were worth $3,317,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ALB. State Street Corp boosted its stake in shares of Albemarle Corporation by 0.5% in the first quarter. State Street Corp now owns 6,356,839 shares of the specialty chemicals company’s stock valued at $671,675,000 after buying an additional 30,662 shares during the last quarter. Marietta Investment Partners LLC bought a new stake in shares of Albemarle Corporation during the first quarter valued at $2,574,000. Nationwide Fund Advisors boosted its stake in shares of Albemarle Corporation by 7.0% in the first quarter. Nationwide Fund Advisors now owns 68,503 shares of the specialty chemicals company’s stock valued at $7,237,000 after buying an additional 4,476 shares during the last quarter. Tiemann Investment Advisors LLC boosted its stake in shares of Albemarle Corporation by 7.2% in the first quarter. Tiemann Investment Advisors LLC now owns 3,745 shares of the specialty chemicals company’s stock valued at $396,000 after buying an additional 251 shares during the last quarter. Finally, Dynamic Capital Management Ltd boosted its stake in shares of Albemarle Corporation by 1,207.7% in the first quarter. Dynamic Capital Management Ltd now owns 70,916 shares of the specialty chemicals company’s stock valued at $7,492,000 after buying an additional 65,493 shares during the last quarter. 85.39% of the stock is currently owned by institutional investors.

Shares of Albemarle Corporation (ALB) traded up 1.76% on Monday, reaching $121.71. The company had a trading volume of 903,211 shares. The stock has a market capitalization of $13.48 billion, a P/E ratio of 29.58 and a beta of 1.59. The company’s 50 day moving average price is $111.82 and its 200-day moving average price is $105.71. Albemarle Corporation has a 1-year low of $75.11 and a 1-year high of $122.89.

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

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ALB has been the topic of several analyst reports. Zacks Investment Research cut Albemarle Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Aegis reissued a “buy” rating on shares of Albemarle Corporation in a research note on Friday, July 7th. Royal Bank Of Canada reissued a “buy” rating and set a $136.00 price objective on shares of Albemarle Corporation in a research note on Friday, July 14th. Needham & Company LLC reissued a “buy” rating and set a $36.00 price objective on shares of Albemarle Corporation in a research note on Thursday, June 29th. Finally, Robert W. Baird reissued an “outperform” rating and set a $135.00 price objective (up from $125.00) on shares of Albemarle Corporation in a research note on Tuesday, July 18th. They noted that the move was a valuation call. Five investment 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 stock presently has a consensus rating of “Buy” and a consensus price target of $105.50.

In related news, CFO Scott Tozier sold 25,000 shares of Albemarle Corporation stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 57,506 shares in the company, valued at approximately $6,333,135.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Luther C. Iv Kissam sold 50,000 shares of Albemarle Corporation stock in a transaction that occurred on Friday, July 7th. The shares were 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 owns 252,917 shares of the company’s stock, valued at approximately $27,841,103.36. The disclosure for this sale can be found here. Insiders sold a total of 105,000 shares of company stock valued at $11,499,850 in the last quarter. 0.74% of the stock is owned by insiders.

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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