Sumitomo Mitsui Asset Management Company LTD reduced its holdings in shares of Albemarle Corporation (NYSE:ALB) by 6.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,615 shares of the specialty chemicals company’s stock after selling 694 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Albemarle Corporation were worth $1,310,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ALB. Thrivent Financial For Lutherans lifted its position in Albemarle Corporation by 5.3% during the 1st quarter. Thrivent Financial For Lutherans now owns 4,150 shares of the specialty chemicals company’s stock valued at $438,000 after acquiring an additional 210 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Albemarle Corporation by 4.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 14,120 shares of the specialty chemicals company’s stock worth $1,492,000 after buying an additional 590 shares during the last quarter. DnB Asset Management AS purchased a new position in Albemarle Corporation in the second quarter worth about $1,088,000. NN Investment Partners Holdings N.V. raised its holdings in Albemarle Corporation by 1,568.6% in the second quarter. NN Investment Partners Holdings N.V. now owns 11,530 shares of the specialty chemicals company’s stock worth $1,217,000 after buying an additional 10,839 shares during the last quarter. Finally, Handelsinvest Investeringsforvaltning purchased a new position in Albemarle Corporation in the second quarter worth about $725,000. 83.82% of the stock is owned by institutional investors.

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Several research analysts have issued reports on the stock. BidaskClub cut shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Albemarle Corporation in a report on Tuesday, October 24th. BMO Capital Markets assumed coverage on shares of Albemarle Corporation in a report on Tuesday, October 24th. They issued an “outperform” rating and a $160.00 target price for the company. Vertical Research reaffirmed a “hold” rating and issued a $109.00 target price (up from $108.00) on shares of Albemarle Corporation in a report on Thursday, August 10th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $136.00 price objective on shares of Albemarle Corporation in a report on Wednesday, September 20th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $125.45.

Shares of Albemarle Corporation (NYSE ALB) opened at $140.04 on Monday. The company has a current ratio of 2.24, a quick ratio of 1.67 and a debt-to-equity ratio of 0.36. The stock has a market cap of $15,470.60, a P/E ratio of 36.19, a P/E/G ratio of 2.17 and a beta of 1.72. Albemarle Corporation has a 12-month low of $76.32 and a 12-month high of $143.69.

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

In related news, EVP Karen G. Narwold sold 11,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $115.95, for a total transaction of $1,333,425.00. Following the completion of the sale, the executive vice president now directly owns 36,620 shares in the company, valued at $4,246,089. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matthew Juneau sold 5,397 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $115.77, for a total transaction of $624,810.69. Following the sale, the executive vice president now owns 360 shares of the company’s stock, valued at $41,677.20. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.

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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