Fiduciary Financial Services of The Southwest Inc. TX boosted its stake in Albemarle Corporation (NYSE:ALB) by 45.3% during the second quarter, Holdings Channel reports. The fund owned 2,970 shares of the specialty chemicals company’s stock after buying an additional 926 shares during the period. Fiduciary Financial Services of The Southwest Inc. TX’s holdings in Albemarle Corporation were worth $313,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Albemarle Corporation by 2,805.3% in the first quarter. BlackRock Inc. now owns 8,310,717 shares of the specialty chemicals company’s stock valued at $877,947,000 after buying an additional 8,024,668 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Albemarle Corporation by 6.3% in the first quarter. Vanguard Group Inc. now owns 12,287,799 shares of the specialty chemicals company’s stock valued at $1,298,083,000 after buying an additional 725,702 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Albemarle Corporation by 14.0% in the first quarter. Jennison Associates LLC now owns 5,705,825 shares of the specialty chemicals company’s stock valued at $602,763,000 after buying an additional 702,388 shares during the last quarter. KAMES CAPITAL plc boosted its stake in shares of Albemarle Corporation by 2,716.6% in the first quarter. KAMES CAPITAL plc now owns 322,788 shares of the specialty chemicals company’s stock valued at $34,099,000 after buying an additional 311,328 shares during the last quarter. Finally, Barings LLC bought a new stake in shares of Albemarle Corporation during the first quarter valued at about $29,862,000. Hedge funds and other institutional investors own 86.22% of the company’s stock.

Albemarle Corporation (NYSE:ALB) opened at 110.83 on Tuesday. The firm has a market cap of $12.24 billion, a price-to-earnings ratio of 14.17 and a beta of 1.59. The company’s 50-day moving average price is $113.89 and its 200 day moving average price is $107.03. Albemarle Corporation has a 1-year low of $75.11 and a 1-year high of $123.48.

Albemarle Corporation (NYSE:ALB) last posted its quarterly earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.02. Albemarle Corporation had a return on equity of 11.59% and a net margin of 31.49%. The firm had revenue of $737.25 million during the quarter, compared to the consensus estimate of $735.50 million. During the same quarter in the previous year, the business earned $0.93 earnings per share. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities analysts expect that Albemarle Corporation will post $4.36 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Thursday, September 14th. Albemarle Corporation’s dividend payout ratio (DPR) is 16.41%.

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ALB has been the subject of several analyst reports. Zacks Investment Research cut Albemarle Corporation from a “buy” rating to a “hold” rating in a report on Monday, April 24th. BidaskClub cut Albemarle Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Robert W. Baird restated an “outperform” rating and issued a $135.00 target price (up from $125.00) on shares of Albemarle Corporation in a report on Tuesday, July 18th. They noted that the move was a valuation call. SunTrust Banks, Inc. cut Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 target price for the company. in a report on Wednesday, August 9th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $47.00 target price on shares of Albemarle Corporation in a report on Thursday, June 29th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $106.69.

In other Albemarle Corporation news, Director Douglas L. Maine sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $107.94, for a total transaction of $1,079,400.00. Following the sale, the director now owns 24,150 shares in the company, valued at $2,606,751. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Luther C. Iv Kissam sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $110.08, for a total value of $5,504,000.00. Following the sale, the chairman now owns 252,917 shares in the company, valued at approximately $27,841,103.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,000 shares of company stock worth $11,499,850. Insiders own 0.74% of the company’s stock.

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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