National Investment Services Inc. WI lowered its position in Albemarle Corp. (NYSE:ALB) by 62.8% during the second quarter, Holdings Channel reports. The fund owned 14,508 shares of the company’s stock after selling 24,484 shares during the period. National Investment Services Inc. WI’s holdings in Albemarle Corp. were worth $1,151,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ALB. Benjamin F. Edwards & Company Inc. boosted its stake in Albemarle Corp. by 0.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,438 shares of the company’s stock valued at $114,000 after buying an additional 7 shares in the last quarter. Eqis Capital Management Inc. boosted its position in shares of Albemarle Corp. by 0.3% in the second quarter. Eqis Capital Management Inc. now owns 3,365 shares of the company’s stock valued at $267,000 after buying an additional 11 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Albemarle Corp. by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 53,820 shares of the company’s stock valued at $4,268,000 after buying an additional 200 shares during the period. Naples Global Advisors LLC boosted its position in shares of Albemarle Corp. by 1.3% in the second quarter. Naples Global Advisors LLC now owns 16,080 shares of the company’s stock valued at $1,275,000 after buying an additional 208 shares during the period. Finally, Capstone Asset Management Co. boosted its position in shares of Albemarle Corp. by 2.2% in the second quarter. Capstone Asset Management Co. now owns 11,458 shares of the company’s stock valued at $909,000 after buying an additional 250 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Shares of Albemarle Corp. (NYSE:ALB) traded up 1.19% during mid-day trading on Monday, hitting $77.64. The stock had a trading volume of 776,972 shares. Albemarle Corp. has a 12-month low of $41.50 and a 12-month high of $87.29. The stock’s 50-day moving average price is $81.31 and its 200-day moving average price is $75.32. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 57.17 and a beta of 1.87.

Albemarle Corp. (NYSE:ALB) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.08. Albemarle Corp. had a net margin of 4.54% and a return on equity of 14.52%. The business earned $669.30 million during the quarter, compared to analysts’ expectations of $860.40 million. During the same quarter in the prior year, the company earned $0.73 EPS. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. On average, equities analysts anticipate that Albemarle Corp. will post $3.47 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be given a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Tuesday, September 13th. Albemarle Corp.’s dividend payout ratio is currently 89.05%.

ALB has been the topic of several research analyst reports. Nomura reiterated a “buy” rating and set a $85.00 price target on shares of Albemarle Corp. in a research report on Monday, May 23rd. Morgan Stanley reiterated a “hold” rating on shares of Albemarle Corp. in a research report on Thursday, June 16th. Deutsche Bank AG reiterated a “buy” rating and set a $94.00 price target (up from $84.00) on shares of Albemarle Corp. in a research report on Monday, June 20th. Citigroup Inc. reiterated a “buy” rating and set a $89.00 price target on shares of Albemarle Corp. in a research report on Wednesday, June 29th. Finally, Zacks Investment Research cut Albemarle Corp. from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $80.00.

In related news, Director John Sherman, Jr. sold 4,300 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $82.09, for a total value of $352,987.00. Following the completion of the transaction, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $123,135. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Luther C. Iv Kissam sold 50,000 shares of the company’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $83.19, for a total transaction of $4,159,500.00. Following the completion of the transaction, the chief executive officer now directly owns 233,000 shares of the company’s stock, valued at $19,383,270. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by corporate insiders.

Albemarle Corp. Company Profile

Albemarle Corporation is a developer, manufacturer and marketer of specialty chemicals across a range of end markets, including the petroleum refining, consumer electronics, energy storage, construction, automotive, steel and aerospace, lubricants, pharmaceuticals, heating, ventilation, and aluminum finishing.

5 Day Chart for NYSE:ALB

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