Vanguard Group Inc. increased its stake in Albemarle Corporation (NYSE:ALB) by 1.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 12,501,329 shares of the specialty chemicals company’s stock after buying an additional 213,530 shares during the quarter. Vanguard Group Inc. owned 11.29% of Albemarle Corporation worth $1,319,389,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Albemarle Corporation by 2.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock worth $102,000 after buying an additional 20 shares during the last quarter. Carroll Financial Associates Inc. boosted its holdings in shares of Albemarle Corporation by 0.3% in the 2nd 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 during the last quarter. Smithfield Trust Co. boosted its holdings in shares of Albemarle Corporation by 16.1% in the 2nd quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock worth $106,000 after buying an additional 140 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Albemarle Corporation by 0.3% in the 2nd 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 during the last quarter. Finally, Copper Rock Capital Partners LLC boosted its holdings in shares of Albemarle Corporation by 303.3% in the 2nd quarter. Copper Rock Capital Partners LLC now owns 1,944 shares of the specialty chemicals company’s stock worth $167,000 after buying an additional 1,462 shares during the last quarter. 83.73% of the stock is currently owned by institutional investors.

Several equities research analysts have commented on ALB shares. Zacks Investment Research raised shares of Albemarle Corporation from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Friday, July 7th. Robert W. Baird reaffirmed an “outperform” rating and set a $135.00 price objective (up from $125.00) on shares of Albemarle Corporation in a report on Tuesday, July 18th. They noted that the move was a valuation call. BidaskClub downgraded shares of Albemarle Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price objective on shares of Albemarle Corporation in a report on Thursday, June 29th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $120.00 price objective on shares of Albemarle Corporation in a report on Friday, June 16th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $113.17.

In other news, EVP Karen G. Narwold sold 11,500 shares of Albemarle Corporation stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $115.95, for a total transaction of $1,333,425.00. Following the transaction, the executive vice president now directly owns 36,620 shares of the company’s stock, valued at approximately $4,246,089. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Luther C. Iv Kissam sold 50,000 shares of Albemarle Corporation stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $110.08, for a total value of $5,504,000.00. Following the transaction, the chairman now directly owns 252,917 shares in the company, valued at $27,841,103.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,897 shares of company stock worth $10,215,486. Insiders own 0.74% of the company’s stock.

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Shares of Albemarle Corporation (ALB) opened at 134.29 on Monday. Albemarle Corporation has a 12 month low of $76.32 and a 12 month high of $136.95. The stock’s 50 day moving average price is $117.92 and its 200 day moving average price is $111.37. The company has a market capitalization of $14.84 billion, a PE ratio of 17.17 and a beta of 1.61.

Albemarle Corporation (NYSE:ALB) last posted its quarterly earnings data on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $737.25 million for the quarter, compared to analysts’ expectations of $735.50 million. During the same period in the previous year, the firm earned $0.93 EPS. The business’s quarterly revenue was up 10.1% on a year-over-year basis. On average, analysts forecast that Albemarle Corporation will post $4.37 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.95%. Albemarle Corporation’s payout ratio is currently 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.

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

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