Atlantic Trust Group LLC Trims Stake in Albemarle Corporation (ALB)

Atlantic Trust Group LLC cut its holdings in Albemarle Corporation (NYSE:ALB) by 5.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,960 shares of the specialty chemicals company’s stock after selling 746 shares during the period. Atlantic Trust Group LLC’s holdings in Albemarle Corporation were worth $1,367,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Synovus Financial Corp increased its holdings in shares of Albemarle Corporation by 2.9% in the 2nd quarter. Synovus Financial Corp now owns 10,482 shares of the specialty chemicals company’s stock worth $1,110,000 after buying an additional 292 shares during the last quarter. Banque Pictet & Cie SA increased its holdings in shares of Albemarle Corporation by 80.4% in the 2nd quarter. Banque Pictet & Cie SA now owns 52,643 shares of the specialty chemicals company’s stock worth $5,556,000 after buying an additional 23,458 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Albemarle Corporation in the 2nd quarter worth about $512,000. Pictet North America Advisors SA bought a new stake in shares of Albemarle Corporation in the 2nd quarter worth about $515,000. Finally, Pictet & Cie Europe SA bought a new stake in shares of Albemarle Corporation in the 2nd quarter worth about $1,092,000. Hedge funds and other institutional investors own 84.01% of the company’s stock.

A number of analysts have recently weighed in on the stock. KeyCorp restated a “buy” rating and issued a $125.00 target price on shares of Albemarle Corporation in a report on Sunday, September 3rd. Jefferies Group LLC set a $144.00 target price on shares of Albemarle Corporation and gave the stock a “buy” rating in a report on Monday, August 21st. CIBC assumed coverage on shares of Albemarle Corporation in a report on Thursday, August 17th. They issued an “outperform” rating and a $133.00 target price on the stock. Oppenheimer Holdings, Inc. assumed coverage on shares of Albemarle Corporation in a report on Wednesday, August 16th. They issued an “outperform” rating and a $133.00 target price on the stock. Finally, BidaskClub downgraded shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Seven 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 stock has a consensus rating of “Buy” and a consensus target price of $110.94.

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Albemarle Corporation (NYSE:ALB) opened at 118.28 on Monday. Albemarle Corporation has a 52 week low of $75.11 and a 52 week high of $123.48. The company has a market capitalization of $13.07 billion, a P/E ratio of 15.13 and a beta of 1.61. The firm has a 50-day moving average of $115.88 and a 200-day moving average of $109.65.

Albemarle Corporation (NYSE:ALB) last issued its earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $735.50 million. During the same period in the previous year, the firm earned $0.93 earnings per share. Albemarle Corporation’s quarterly revenue was up 10.1% compared to the same quarter last year. Analysts anticipate that Albemarle Corporation will post $4.37 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Thursday, September 14th. Albemarle Corporation’s dividend payout ratio is presently 16.41%.

In other Albemarle Corporation news, Director Douglas L. Maine sold 10,000 shares of Albemarle Corporation stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $107.94, for a total transaction of $1,079,400.00. Following the completion of the sale, the director now directly owns 24,150 shares in the company, valued at $2,606,751. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Luther C. Iv Kissam sold 50,000 shares of Albemarle Corporation stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $110.08, for a total transaction of $5,504,000.00. Following the sale, the chairman now owns 252,917 shares of the company’s stock, valued at $27,841,103.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,897 shares of company stock valued at $13,458,086. Company 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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