Ameriprise Financial Inc. lessened its stake in Albemarle Corporation (NYSE:ALB) by 25.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,316,907 shares of the specialty chemicals company’s stock after selling 440,733 shares during the quarter. Ameriprise Financial Inc. owned 1.19% of Albemarle Corporation worth $139,002,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Carroll Financial Associates Inc. boosted its holdings 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 valued at $103,000 after buying an additional 3 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings 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 valued at $154,000 after buying an additional 4 shares during the period. Alps Advisors Inc. boosted its holdings 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 valued at $486,000 after buying an additional 12 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings 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 valued at $102,000 after buying an additional 20 shares during the period. Finally, Benedict Financial Advisors Inc. boosted its holdings 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 valued at $856,000 after buying an additional 21 shares during the period. Institutional investors own 84.01% of the company’s stock.

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Several research analysts have recently weighed in on ALB shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $136.00 price target on shares of Albemarle Corporation in a report on Friday, July 14th. Aegis reiterated a “buy” rating on shares of Albemarle Corporation in a report on Friday, July 7th. Zacks Investment Research upgraded shares of Albemarle Corporation from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a report on Friday, July 7th. Jefferies Group LLC reiterated a “buy” rating and issued a $120.00 price target on shares of Albemarle Corporation in a report on Friday, June 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $36.00 price target on shares of Albemarle Corporation in a report on Thursday, June 29th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Albemarle Corporation presently has a consensus rating of “Buy” and an average target price of $110.94.

In other Albemarle Corporation news, EVP Karen G. Narwold sold 20,000 shares of Albemarle Corporation stock in a transaction on Monday, June 19th. The shares were 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 directly owns 45,120 shares of the company’s stock, valued at approximately $4,880,179.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Matthew Juneau sold 5,397 shares of Albemarle Corporation stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $115.77, for a total transaction of $624,810.69. Following the transaction, the executive vice president now directly owns 360 shares in the company, valued at $41,677.20. The disclosure for this sale can be found here. Insiders have sold a total of 121,897 shares of company stock worth $13,458,086 over the last ninety days. Insiders own 0.74% of the company’s stock.

Shares of Albemarle Corporation (ALB) opened at 127.29 on Friday. Albemarle Corporation has a 52-week low of $76.32 and a 52-week high of $127.83. The company has a market capitalization of $14.06 billion, a price-to-earnings ratio of 16.28 and a beta of 1.61. The firm’s 50-day moving average is $116.97 and its 200 day moving average is $110.82.

Albemarle Corporation (NYSE:ALB) last posted its quarterly earnings data on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.02. The firm had revenue of $737.25 million for the quarter, compared to the consensus estimate of $735.50 million. Albemarle Corporation had a net margin of 31.49% and a return on equity of 11.59%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 EPS. On average, equities research analysts anticipate that Albemarle Corporation will post $4.37 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Thursday, September 14th. Albemarle Corporation’s dividend payout ratio is 16.41%.

Albemarle Corporation 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.

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

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