First Trust Advisors LP cut its holdings in Albemarle Co. (NYSE:ALB) by 23.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,826 shares of the specialty chemicals company’s stock after selling 27,406 shares during the quarter. First Trust Advisors LP owned 0.08% of Albemarle worth $8,285,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Assetmark Inc. boosted its stake in shares of Albemarle by 7.5% in the second quarter. Assetmark Inc. now owns 46,489 shares of the specialty chemicals company’s stock worth $4,385,000 after acquiring an additional 3,234 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Albemarle by 6.9% in the second quarter. Wells Fargo & Company MN now owns 861,018 shares of the specialty chemicals company’s stock worth $81,220,000 after acquiring an additional 55,732 shares during the last quarter. Iridian Asset Management LLC CT boosted its stake in shares of Albemarle by 2.0% in the second quarter. Iridian Asset Management LLC CT now owns 2,024,607 shares of the specialty chemicals company’s stock worth $190,981,000 after acquiring an additional 38,781 shares during the last quarter. Personal Capital Advisors Corp boosted its stake in shares of Albemarle by 16.2% in the second quarter. Personal Capital Advisors Corp now owns 213,323 shares of the specialty chemicals company’s stock worth $20,123,000 after acquiring an additional 29,667 shares during the last quarter. Finally, Dana Investment Advisors Inc. boosted its stake in shares of Albemarle by 7.4% in the second quarter. Dana Investment Advisors Inc. now owns 12,325 shares of the specialty chemicals company’s stock worth $1,163,000 after acquiring an additional 847 shares during the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

NYSE ALB opened at $96.00 on Friday. The firm has a market cap of $10.25 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 1.24 and a beta of 1.65. The company has a current ratio of 2.19, a quick ratio of 1.55 and a debt-to-equity ratio of 0.37. Albemarle Co. has a fifty-two week low of $86.75 and a fifty-two week high of $144.99.

Albemarle (NYSE:ALB) last posted its earnings results on Tuesday, August 7th. The specialty chemicals company reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.08. Albemarle had a return on equity of 14.51% and a net margin of 10.17%. The company had revenue of $853.87 million for the quarter, compared to the consensus estimate of $799.49 million. equities analysts anticipate that Albemarle Co. will post 5.37 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be given a $0.335 dividend. The ex-dividend date is Thursday, September 13th. This represents a $1.34 dividend on an annualized basis and a yield of 1.40%. Albemarle’s dividend payout ratio is currently 29.19%.

A number of brokerages have recently issued reports on ALB. Zacks Investment Research raised Albemarle from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a research note on Tuesday, August 7th. ValuEngine lowered Albemarle from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 7th. Goldman Sachs Group raised Albemarle from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Tuesday, July 3rd. Bank of America began coverage on Albemarle in a research note on Monday, June 25th. They issued a “buy” rating and a $115.00 price target on the stock. Finally, Vertical Research raised Albemarle from a “hold” rating to a “buy” rating in a research note on Tuesday, June 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $131.71.

About Albemarle

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.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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