FUKOKU MUTUAL LIFE INSURANCE Co raised its position in shares of Albemarle Corporation (NYSE:ALB) by 484.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,600 shares of the specialty chemicals company’s stock after purchasing an additional 6,300 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Albemarle Corporation were worth $802,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its position in 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 worth $102,000 after buying an additional 20 shares during the last quarter. Carroll Financial Associates Inc. raised its stake 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. Smithfield Trust Co. raised its stake in shares of Albemarle Corporation by 16.1% in the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock valued at $106,000 after buying an additional 140 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake 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. Finally, Copper Rock Capital Partners LLC raised its stake in shares of Albemarle Corporation by 303.3% in the second quarter. Copper Rock Capital Partners LLC now owns 1,944 shares of the specialty chemicals company’s stock valued at $167,000 after buying an additional 1,462 shares during the period. 83.77% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently weighed in on ALB shares. CIBC assumed coverage on Albemarle Corporation in a research note on Thursday, August 17th. They set an “outperform” rating and a $133.00 price target for the company. Piper Jaffray Companies restated an “overweight” rating and issued a $47.00 price objective on shares of Albemarle Corporation in a research note on Thursday, June 29th. SunTrust Banks, Inc. downgraded shares of Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 price objective on the stock. in a report on Wednesday, August 9th. KeyCorp upped their price objective on shares of Albemarle Corporation from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, June 12th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $125.00 target price on shares of Albemarle Corporation in a research report on Wednesday, June 28th. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $115.11.

In related news, Chairman Luther C. Iv Kissam sold 50,000 shares of the stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $110.08, for a total transaction of $5,504,000.00. Following the completion of the sale, the chairman now owns 252,917 shares in the company, valued at $27,841,103.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Scott Tozier sold 25,000 shares of the stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $110.13, for a total value of $2,753,250.00. Following the sale, the chief financial officer now owns 57,506 shares of the company’s stock, valued at approximately $6,333,135.78. The disclosure for this sale can be found here. Insiders sold 91,897 shares of company stock worth $10,215,486 over the last 90 days. Company insiders own 0.74% of the company’s stock.

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Albemarle Corporation (ALB) traded down 0.66% on Monday, hitting $135.41. 653,333 shares of the stock traded hands. The stock has a market cap of $14.96 billion, a price-to-earnings ratio of 17.32 and a beta of 1.66. Albemarle Corporation has a 52-week low of $76.32 and a 52-week high of $137.48. The company’s 50 day moving average price is $117.92 and its 200-day moving average price is $111.37.

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

The firm 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 $0.32 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.28 annualized dividend and a dividend yield of 0.94%. Albemarle Corporation’s payout ratio is 16.41%.

Albemarle Corporation Company 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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