Teacher Retirement System of Texas boosted its position in Albemarle Corporation (NYSE:ALB) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 188,281 shares of the specialty chemicals company’s stock after buying an additional 103 shares during the period. Teacher Retirement System of Texas’ holdings in Albemarle Corporation were worth $19,871,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Albemarle Corporation by 6.3% in the first quarter. Vanguard Group Inc. now owns 12,287,799 shares of the specialty chemicals company’s stock worth $1,298,083,000 after buying an additional 725,702 shares during the last quarter. BlackRock Inc. raised its stake in shares of Albemarle Corporation by 2,805.3% in the first quarter. BlackRock Inc. now owns 8,310,717 shares of the specialty chemicals company’s stock worth $877,947,000 after buying an additional 8,024,668 shares during the last quarter. State Street Corp raised 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 worth $671,675,000 after buying an additional 30,662 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Albemarle Corporation by 14.0% in the first quarter. Jennison Associates LLC now owns 5,705,825 shares of the specialty chemicals company’s stock worth $602,763,000 after buying an additional 702,388 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Albemarle Corporation by 3.9% in the first quarter. FMR LLC now owns 2,269,067 shares of the specialty chemicals company’s stock worth $239,703,000 after buying an additional 84,189 shares during the last quarter. Hedge funds and other institutional investors own 85.39% of the company’s stock.

Albemarle Corporation (ALB) opened at 109.36 on Friday. The stock’s 50 day moving average price is $113.72 and its 200 day moving average price is $106.75. Albemarle Corporation has a 12-month low of $75.11 and a 12-month high of $123.48. The company has a market cap of $12.08 billion, a PE ratio of 13.99 and a beta of 1.59.

Albemarle Corporation (NYSE:ALB) last released its earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.11 by $0.02. Albemarle Corporation had a return on equity of 11.59% and a net margin of 31.49%. The business had revenue of $737.25 million during the quarter, compared to analysts’ expectations of $735.50 million. During the same quarter last year, the firm posted $0.93 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. Equities research analysts anticipate that Albemarle Corporation will post $4.36 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.28 annualized dividend and a yield of 1.17%. Albemarle Corporation’s dividend payout ratio is currently 16.41%.

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Several research firms have recently issued reports on ALB. Zacks Investment Research lowered Albemarle Corporation from a “buy” rating to a “hold” rating in a research report on Monday, April 24th. BidaskClub lowered Albemarle Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Robert W. Baird restated an “outperform” rating and set a $135.00 target price (up from $125.00) on shares of Albemarle Corporation in a research report on Tuesday, July 18th. They noted that the move was a valuation call. SunTrust Banks, Inc. lowered Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 target price for the company. in a research report on Wednesday. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $47.00 target price on shares of Albemarle Corporation in a research report on Thursday, June 29th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $106.69.

In related news, CFO Scott Tozier sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $110.13, for a total transaction of $2,753,250.00. Following the completion of the sale, the chief financial officer now owns 57,506 shares of the company’s stock, valued at $6,333,135.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Douglas L. Maine sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $107.94, for a total value of $1,079,400.00. Following the sale, the director now directly owns 24,150 shares of the company’s stock, valued at approximately $2,606,751. The disclosure for this sale can be found here. Insiders have sold 105,000 shares of company stock valued at $11,499,850 in the last ninety days. 0.74% of the stock is currently 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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