BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in Albemarle Co. (NYSE:ALB) by 14.5% in the second quarter, Holdings Channel reports. The institutional investor owned 50,638 shares of the specialty chemicals company’s stock after selling 8,562 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Albemarle were worth $4,777,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Stoneridge Investment Partners LLC lifted its position in shares of Albemarle by 29.2% during the 2nd quarter. Stoneridge Investment Partners LLC now owns 51,930 shares of the specialty chemicals company’s stock worth $4,899,000 after purchasing an additional 11,728 shares during the last quarter. Grandfield & Dodd LLC lifted its position in shares of Albemarle by 7.0% during the 2nd quarter. Grandfield & Dodd LLC now owns 92,785 shares of the specialty chemicals company’s stock worth $8,752,000 after purchasing an additional 6,030 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Albemarle by 95.9% during the 1st quarter. Commonwealth Equity Services LLC now owns 52,966 shares of the specialty chemicals company’s stock worth $4,912,000 after purchasing an additional 25,922 shares during the last quarter. Altfest L J & Co. Inc. acquired a new position in shares of Albemarle during the 2nd quarter worth about $470,000. Finally, Stevens Capital Management LP acquired a new position in shares of Albemarle during the 2nd quarter worth about $2,736,000. 90.49% of the stock is owned by institutional investors.

Several research firms recently weighed in on ALB. SunTrust Banks raised Albemarle from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $115.00 in a research report on Tuesday. Zacks Investment Research raised Albemarle from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a research report on Tuesday, August 7th. ValuEngine cut Albemarle from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 7th. Goldman Sachs Group raised Albemarle from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Tuesday, July 3rd. Finally, Bank of America started coverage on Albemarle in a research note on Monday, June 25th. They set a “buy” rating and a $115.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $131.97.

Shares of ALB opened at $96.57 on Wednesday. Albemarle Co. has a 12-month low of $86.75 and a 12-month high of $144.99. The stock has a market cap of $10.36 billion, a P/E ratio of 18.80, a PEG ratio of 1.25 and a beta of 1.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.55 and a current ratio of 2.19.

Albemarle (NYSE:ALB) last released its quarterly earnings data on Tuesday, August 7th. The specialty chemicals company reported $1.36 earnings per share for the quarter, beating the 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 analyst estimates of $799.49 million. analysts anticipate that Albemarle Co. will post 5.37 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 14th will be paid a $0.335 dividend. The ex-dividend date is Thursday, September 13th. This represents a $1.34 annualized dividend and a dividend yield of 1.39%. Albemarle’s dividend payout ratio is currently 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.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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