Great West Life Assurance Co. Can reduced its position in Albemarle Co. (NYSE:ALB) by 22.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,198 shares of the specialty chemicals company’s stock after selling 27,570 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Albemarle were worth $8,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. ETRADE Capital Management LLC increased its position in Albemarle by 26.3% in the first quarter. ETRADE Capital Management LLC now owns 2,743 shares of the specialty chemicals company’s stock worth $254,000 after buying an additional 571 shares during the last quarter. Dupont Capital Management Corp increased its position in Albemarle by 81.6% in the first quarter. Dupont Capital Management Corp now owns 1,358 shares of the specialty chemicals company’s stock worth $126,000 after buying an additional 610 shares during the last quarter. Cornerstone Advisors Inc. increased its position in Albemarle by 19.7% in the second quarter. Cornerstone Advisors Inc. now owns 3,730 shares of the specialty chemicals company’s stock worth $352,000 after buying an additional 614 shares during the last quarter. Wealthstreet Investment Advisors LLC increased its position in Albemarle by 10.6% in the second quarter. Wealthstreet Investment Advisors LLC now owns 6,775 shares of the specialty chemicals company’s stock worth $639,000 after buying an additional 650 shares during the last quarter. Finally, Stanley Laman Group Ltd. increased its position in Albemarle by 11.9% in the second quarter. Stanley Laman Group Ltd. now owns 6,189 shares of the specialty chemicals company’s stock worth $584,000 after buying an additional 657 shares during the last quarter. 90.63% of the stock is owned by institutional investors and hedge funds.

ALB has been the subject of a number of recent research reports. Nomura decreased their target price on Albemarle to $130.00 and set a “buy” rating for the company in a research report on Friday, May 11th. Zacks Investment Research raised Albemarle from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Monday, May 14th. ValuEngine lowered Albemarle from a “hold” rating to a “sell” rating in a report on Tuesday, May 29th. Vertical Group raised Albemarle from a “hold” rating to a “buy” rating in a report on Tuesday, June 12th. Finally, Vertical Research raised Albemarle from a “hold” rating to a “buy” rating in a report on Tuesday, June 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have assigned a buy rating to the company’s stock. Albemarle presently has a consensus rating of “Buy” and a consensus target price of $131.97.

In related news, EVP Karen G. Narwold sold 3,100 shares of Albemarle stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $97.11, for a total transaction of $301,041.00. Following the completion of the sale, the executive vice president now owns 30,242 shares of the company’s stock, valued at $2,936,800.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.80% of the stock is currently owned by company insiders.

Albemarle stock opened at $97.19 on Friday. Albemarle Co. has a one year low of $86.75 and a one year high of $144.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.19 and a quick ratio of 1.55. The firm has a market capitalization of $10.59 billion, a PE ratio of 21.17, a P/E/G ratio of 1.27 and a beta of 1.69.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Tuesday, August 7th. The specialty chemicals company reported $1.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.08. The company had revenue of $853.87 million during the quarter, compared to analyst estimates of $799.49 million. Albemarle had a return on equity of 14.51% and a net margin of 10.17%. analysts anticipate that Albemarle Co. will post 5.39 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be paid a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 1.38%. The ex-dividend date is Thursday, September 13th. Albemarle’s dividend payout ratio is 29.19%.

Albemarle Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.

Read More: Price to Earnings Ratio (PE)

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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