Advisor Group Inc. Has $1.51 Million Stake in Albemarle Corporation (ALB)

Advisor Group Inc. cut its position in Albemarle Corporation (NYSE:ALB) by 6.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,070 shares of the specialty chemicals company’s stock after selling 775 shares during the period. Advisor Group Inc.’s holdings in Albemarle Corporation were worth $1,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Carroll Financial Associates Inc. increased its stake in shares of 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 purchasing an additional 3 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Albemarle Corporation by 0.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,458 shares of the specialty chemicals company’s stock worth $154,000 after purchasing an additional 4 shares in the last quarter. Scotia Capital Inc. increased its stake in shares of Albemarle Corporation by 0.5% in the second quarter. Scotia Capital Inc. now owns 2,022 shares of the specialty chemicals company’s stock worth $213,000 after purchasing an additional 10 shares in the last quarter. Alps Advisors Inc. increased its stake in shares of Albemarle Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 4,606 shares of the specialty chemicals company’s stock worth $486,000 after purchasing an additional 12 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Albemarle Corporation by 2.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock worth $102,000 after purchasing an additional 20 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on ALB shares. BidaskClub cut shares of Albemarle Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research cut shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. SunTrust Banks, Inc. cut shares of Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 price objective for the company. in a research note on Wednesday, August 9th. Vertical Research restated a “hold” rating and set a $109.00 target price (up previously from $108.00) on shares of Albemarle Corporation in a research report on Thursday, August 10th. Finally, Oppenheimer Holdings, Inc. initiated coverage on shares of Albemarle Corporation in a research report on Wednesday, August 16th. They set an “outperform” rating and a $133.00 target price for the company. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $128.45.

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In other news, EVP Karen G. Narwold sold 11,500 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $115.95, for a total value of $1,333,425.00. Following the sale, the executive vice president now owns 36,620 shares of the company’s stock, valued at $4,246,089. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Matthew Juneau sold 5,397 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 360 shares in the company, valued at approximately $41,677.20. The disclosure for this sale can be found here. 0.74% of the stock is owned by company insiders.

Albemarle Corporation (NYSE ALB) opened at $136.21 on Friday. Albemarle Corporation has a 12-month low of $82.18 and a 12-month high of $144.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.56 and a current ratio of 2.11. The company has a market cap of $14,950.00, a price-to-earnings ratio of 34.07, a price-to-earnings-growth ratio of 2.09 and a beta of 1.72.

Albemarle Corporation (NYSE:ALB) last released its quarterly earnings data on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.01. Albemarle Corporation had a net margin of 30.07% and a return on equity of 11.61%. The business had revenue of $755.00 million during the quarter, compared to analyst estimates of $732.19 million. During the same quarter last year, the business earned $0.91 earnings per share. Albemarle Corporation’s quarterly revenue was up 15.4% compared to the same quarter last year. equities research analysts forecast that Albemarle Corporation will post 4.45 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.28 annualized dividend and a yield of 0.94%. Albemarle Corporation’s dividend payout ratio (DPR) is currently 45.71%.

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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