Commerce Bank Takes Position in Albemarle Corporation (ALB)

Commerce Bank bought a new stake in Albemarle Corporation (NYSE:ALB) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,105 shares of the specialty chemicals company’s stock, valued at approximately $222,000.

Several other large investors have also recently bought and sold shares of ALB. Carroll Financial Associates Inc. raised 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 valued at $103,000 after acquiring an additional 3 shares during the last quarter. Smithfield Trust Co. raised its stake in shares of Albemarle Corporation by 16.1% in the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock valued at $106,000 after acquiring an additional 140 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised 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 valued at $154,000 after acquiring an additional 4 shares during the last quarter. Copper Rock Capital Partners LLC raised its stake in shares of Albemarle Corporation by 303.3% in the second quarter. Copper Rock Capital Partners LLC now owns 1,944 shares of the specialty chemicals company’s stock valued at $167,000 after acquiring an additional 1,462 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Albemarle Corporation by 18.7% in the first quarter. Van ECK Associates Corp now owns 1,614 shares of the specialty chemicals company’s stock valued at $171,000 after acquiring an additional 254 shares during the last quarter. Institutional investors own 84.01% of the company’s stock.

Shares of Albemarle Corporation (NYSE ALB) opened at 124.64 on Wednesday. Albemarle Corporation has a 12 month low of $75.13 and a 12 month high of $126.32. The company has a market cap of $13.77 billion, a PE ratio of 15.94 and a beta of 1.61. The firm’s 50 day moving average is $116.04 and its 200 day moving average is $110.12.

Albemarle Corporation (NYSE:ALB) last issued its earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share for the quarter, beating 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 firm had revenue of $737.25 million for the quarter, compared to analyst estimates of $735.50 million. During the same quarter last year, the business posted $0.93 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. On average, equities analysts predict that Albemarle Corporation will post $4.37 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a $0.32 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.03%. Albemarle Corporation’s dividend payout ratio is currently 16.41%.

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A number of research firms have recently issued reports on ALB. Morgan Stanley cut their target price on shares of Albemarle Corporation from $100.00 to $72.00 and set an “equal weight” rating for the company in a research note on Thursday, May 25th. BidaskClub cut shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Jefferies Group LLC set a $144.00 target price on shares of Albemarle Corporation and gave the company a “buy” rating in a research note on Monday, August 21st. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 target price on shares of Albemarle Corporation in a research note on Thursday, June 29th. Finally, Vertical Research reiterated a “hold” rating and issued a $109.00 target price (up previously from $108.00) on shares of Albemarle Corporation in a research note on Thursday, August 10th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $110.94.

In other news, Director Douglas L. Maine sold 10,000 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 24,150 shares of the company’s stock, valued at $2,606,751. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Matthew Juneau sold 5,397 shares of the firm’s 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 transaction, the executive vice president now directly owns 360 shares of the company’s stock, valued at approximately $41,677.20. The disclosure for this sale can be found here. Insiders have sold 121,897 shares of company stock valued at $13,458,086 in the last ninety days. 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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