HAP Trading LLC increased its holdings in Albemarle Corporation (NYSE:ALB) by 193.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,397 shares of the specialty chemicals company’s stock after acquiring an additional 23,597 shares during the quarter. HAP Trading LLC’s holdings in Albemarle Corporation were worth $1,203,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Carroll Financial Associates Inc. lifted its stake in shares of 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 acquiring an additional 3 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of 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 acquiring an additional 4 shares in the last quarter. Alps Advisors Inc. lifted its stake in shares of Albemarle Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 4,606 shares of the specialty chemicals company’s stock worth $486,000 after acquiring an additional 12 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Albemarle Corporation by 2.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock worth $102,000 after acquiring an additional 20 shares in the last quarter. Finally, Benedict Financial Advisors Inc. lifted its stake in shares of Albemarle Corporation by 0.3% in the second quarter. Benedict Financial Advisors Inc. now owns 7,233 shares of the specialty chemicals company’s stock worth $856,000 after acquiring an additional 21 shares in the last quarter. Institutional investors and hedge funds own 84.01% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Albemarle Corporation (ALB) Position Lifted by HAP Trading LLC” was reported by Daily Political and is the property of of Daily Political. If you are reading this news story on another domain, it was illegally copied and republished in violation of United States and international trademark & copyright law. The correct version of this news story can be read at https://www.dailypolitical.com/2017/09/13/albemarle-corporation-alb-position-lifted-by-hap-trading-llc.html.

In other Albemarle Corporation news, EVP Karen G. Narwold sold 11,500 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $115.95, for a total transaction of $1,333,425.00. Following the completion of the transaction, the executive vice president now owns 36,620 shares in the company, valued at $4,246,089. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Karen G. Narwold sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $108.16, for a total transaction of $2,163,200.00. Following the transaction, the executive vice president now owns 45,120 shares of the company’s stock, valued at approximately $4,880,179.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,897 shares of company stock valued at $13,458,086. Corporate insiders own 0.74% of the company’s stock.

Several research firms recently commented on ALB. BidaskClub cut Albemarle Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. KeyCorp restated a “buy” rating and set a $125.00 price objective on shares of Albemarle Corporation in a research note on Sunday, September 3rd. Royal Bank Of Canada restated a “buy” rating and set a $136.00 price objective on shares of Albemarle Corporation in a research note on Friday, July 14th. Robert W. Baird restated an “outperform” rating and set a $135.00 price objective (up previously 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. Finally, Zacks Investment Research cut Albemarle Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $110.94.

Albemarle Corporation (NYSE:ALB) traded up 0.43% during trading on Wednesday, hitting $125.17. The stock had a trading volume of 312,399 shares. Albemarle Corporation has a 52 week low of $75.13 and a 52 week high of $125.51. The stock has a 50-day moving average price of $116.04 and a 200-day moving average price of $110.12. The company has a market cap of $13.83 billion, a PE ratio of 16.01 and a beta of 1.61.

Albemarle Corporation (NYSE:ALB) last announced its quarterly earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. The firm had revenue of $737.25 million during the quarter, compared to analysts’ expectations of $735.50 million. Albemarle Corporation had a net margin of 31.49% and a return on equity of 11.59%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. Equities analysts predict that Albemarle Corporation will post $4.37 EPS for the current year.

The firm 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. This represents a $1.28 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, September 14th. Albemarle Corporation’s dividend payout ratio is 16.41%.

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.

Want to see what other hedge funds are holding ALB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Albemarle Corporation (NYSE:ALB).

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

Receive News & Ratings for Albemarle Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle Corporation and related companies with MarketBeat.com's FREE daily email newsletter.