New Jersey Better Educational Savings Trust boosted its position in shares of Albemarle Corporation (NYSE:ALB) by 133.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,000 shares of the specialty chemicals company’s stock after buying an additional 4,000 shares during the period. New Jersey Better Educational Savings Trust’s holdings in Albemarle Corporation were worth $739,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Carroll Financial Associates Inc. raised its stake in Albemarle Corporation by 0.3% in the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 3 shares in the last quarter. Smithfield Trust Co. raised its stake in Albemarle Corporation by 16.1% in the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock worth $106,000 after buying an additional 140 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Albemarle Corporation by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,454 shares of the specialty chemicals company’s stock worth $154,000 after buying an additional 5 shares in the last quarter. Copper Rock Capital Partners LLC raised its stake in 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 worth $167,000 after buying an additional 1,462 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Albemarle Corporation by 18.7% in the first quarter. Van ECK Associates Corp now owns 1,614 shares of the specialty chemicals company’s stock worth $171,000 after buying an additional 254 shares in the last quarter. 85.39% of the stock is currently owned by institutional investors.

Albemarle Corporation (ALB) opened at 113.16 on Thursday. The firm’s 50-day moving average is $113.46 and its 200 day moving average is $106.61. Albemarle Corporation has a 12-month low of $75.11 and a 12-month high of $123.48. The firm has a market cap of $12.53 billion, a P/E ratio of 14.47 and a beta of 1.59.

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

The company 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 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Thursday, September 14th. Albemarle Corporation’s payout ratio is 16.41%.

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A number of research firms have recently commented on ALB. Morgan Stanley reduced their price objective on shares of Albemarle Corporation from $100.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 25th. Royal Bank Of Canada reissued a “buy” rating and set a $132.00 target price on shares of Albemarle Corporation in a research note on Tuesday, April 18th. Needham & Company LLC reissued a “buy” rating and set a $36.00 target price on shares of Albemarle Corporation in a research note on Thursday, June 29th. KeyCorp increased their target price on shares of Albemarle Corporation from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, June 12th. Finally, Aegis reissued a “buy” rating on shares of Albemarle Corporation in a research note on Friday, July 7th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Albemarle Corporation presently has a consensus rating of “Buy” and a consensus target price of $106.53.

In related news, EVP Karen G. Narwold sold 20,000 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $108.16, for a total value of $2,163,200.00. Following the transaction, the executive vice president now owns 45,120 shares in the company, valued at approximately $4,880,179.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Luther C. Iv Kissam sold 50,000 shares of the company’s 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 transaction, 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. 0.74% of the stock is currently owned by company insiders.

About Albemarle Corporation

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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