Albemarle Corporation (NYSE:ALB) Stake Lessened by Kanawha Capital Management LLC

Kanawha Capital Management LLC cut its stake in shares of Albemarle Corporation (NYSE:ALB) by 15.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,986 shares of the specialty chemicals company’s stock after selling 721 shares during the period. Kanawha Capital Management LLC’s holdings in Albemarle Corporation were worth $543,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ALB. Janus Henderson Group PLC increased its stake in Albemarle Corporation by 907.7% during the second quarter. Janus Henderson Group PLC now owns 817,035 shares of the specialty chemicals company’s stock worth $86,230,000 after acquiring an additional 735,956 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Albemarle Corporation by 6,185.5% during the second quarter. Artisan Partners Limited Partnership now owns 731,690 shares of the specialty chemicals company’s stock valued at $77,223,000 after buying an additional 720,049 shares during the period. Jennison Associates LLC boosted its position in shares of Albemarle Corporation by 12.0% during the second quarter. Jennison Associates LLC now owns 6,421,530 shares of the specialty chemicals company’s stock valued at $677,728,000 after buying an additional 689,054 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of Albemarle Corporation by 69.2% during the second quarter. TIAA CREF Investment Management LLC now owns 1,661,821 shares of the specialty chemicals company’s stock valued at $175,389,000 after buying an additional 679,453 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Albemarle Corporation by 2,054.6% in the second quarter. JPMorgan Chase & Co. now owns 456,742 shares of the specialty chemicals company’s stock valued at $48,206,000 after purchasing an additional 480,110 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Albemarle Corporation (NYSE ALB) opened at $137.65 on Wednesday. The company has a market cap of $15,840.00, a PE ratio of 34.81, a price-to-earnings-growth ratio of 2.14 and a beta of 1.72. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 0.35. Albemarle Corporation has a 1-year low of $77.25 and a 1-year high of $144.99.

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 Zacks’ consensus estimate of $1.07 by $0.01. The company had revenue of $755.00 million during the quarter, compared to the consensus estimate of $732.19 million. Albemarle Corporation had a net margin of 30.07% and a return on equity of 11.61%. Albemarle Corporation’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. equities research analysts expect that Albemarle Corporation will post 4.45 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.93%. Albemarle Corporation’s dividend payout ratio is currently 45.71%.

ALB has been the subject of a number of research reports. Robert W. Baird reiterated an “outperform” rating and issued a $135.00 price target (up previously from $125.00) on shares of Albemarle Corporation in a report on Tuesday, July 18th. They noted that the move was a valuation call. BidaskClub lowered Albemarle Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research lowered Albemarle Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. SunTrust Banks, Inc. lowered Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 target price for the company. in a report on Wednesday, August 9th. Finally, Vertical Research reaffirmed a “hold” rating and set a $109.00 price target (up from $108.00) on shares of Albemarle Corporation in a research report on Thursday, August 10th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $128.45.

In related news, 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 value of $624,810.69. Following the completion of the sale, the executive vice president now owns 360 shares in the company, valued at approximately $41,677.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Karen G. Narwold sold 11,500 shares of the firm’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 transaction, the executive vice president now directly owns 36,620 shares of the company’s stock, valued at approximately $4,246,089. The disclosure for this sale can be found here. 0.74% of the stock is 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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