Albemarle Corporation (ALB) Shares Bought by Capital Innovations LLC

Capital Innovations LLC lifted its holdings in shares of Albemarle Corporation (NYSE:ALB) by 103.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,460 shares of the specialty chemicals company’s stock after purchasing an additional 2,270 shares during the period. Albemarle Corporation accounts for about 1.8% of Capital Innovations LLC’s portfolio, making the stock its 23rd biggest position. Capital Innovations LLC’s holdings in Albemarle Corporation were worth $471,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Nomura Holdings Inc. boosted its position in shares of Albemarle Corporation by 57.1% during the 2nd quarter. Nomura Holdings Inc. now owns 8,320 shares of the specialty chemicals company’s stock valued at $879,000 after purchasing an additional 3,025 shares in the last quarter. Highlander Capital Management LLC bought a new stake in shares of Albemarle Corporation during the 2nd quarter valued at about $106,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of Albemarle Corporation by 10.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 19,592 shares of the specialty chemicals company’s stock valued at $2,068,000 after purchasing an additional 1,784 shares in the last quarter. 361 Capital LLC boosted its position in shares of Albemarle Corporation by 16.2% during the 2nd quarter. 361 Capital LLC now owns 39,756 shares of the specialty chemicals company’s stock valued at $4,196,000 after purchasing an additional 5,556 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Albemarle Corporation by 9.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 125,549 shares of the specialty chemicals company’s stock valued at $13,252,000 after purchasing an additional 10,625 shares in the last quarter. Institutional investors own 83.77% of the company’s stock.

Shares of Albemarle Corporation (NYSE:ALB) traded up 0.64% during mid-day trading on Tuesday, hitting $137.42. The stock had a trading volume of 413,419 shares. The stock’s 50-day moving average price is $125.89 and its 200-day moving average price is $114.47. The firm has a market cap of $15.18 billion, a PE ratio of 17.58 and a beta of 1.66. Albemarle Corporation has a 52-week low of $76.32 and a 52-week high of $140.10.

Albemarle Corporation (NYSE:ALB) last released its earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.02. Albemarle Corporation had a net margin of 31.49% and a return on equity of 11.59%. The firm had revenue of $737.25 million during the quarter, compared to analyst estimates of $735.50 million. During the same period last year, the business earned $0.93 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. On average, analysts anticipate that Albemarle Corporation will post $4.37 earnings per share for the current fiscal year.

Several equities research analysts recently commented on ALB shares. Royal Bank Of Canada restated a “buy” rating and set a $136.00 target price on shares of Albemarle Corporation in a research report on Friday, July 14th. Aegis restated a “buy” rating on shares of Albemarle Corporation in a research report on Friday, July 7th. Zacks Investment Research upgraded Albemarle Corporation from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Friday, July 7th. Jefferies Group LLC restated a “buy” rating and set a $120.00 target price on shares of Albemarle Corporation in a research report on Friday, June 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $36.00 target price on shares of Albemarle Corporation in a research report on Thursday, June 29th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $116.47.

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In other news, EVP Karen G. Narwold sold 11,500 shares of Albemarle Corporation 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 transaction, the executive vice president now directly owns 36,620 shares in the company, valued at $4,246,089. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Matthew Juneau sold 5,397 shares of Albemarle Corporation 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 transaction, 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. 0.74% of the stock is currently owned by company insiders.

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.

Institutional Ownership by Quarter for Albemarle Corporation (NYSE:ALB)

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