Kanawha Capital Management LLC boosted its position in shares of Albemarle Corp. (NYSE:ALB) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,963 shares of the company’s stock after buying an additional 7 shares during the period. Kanawha Capital Management LLC’s holdings in Albemarle Corp. were worth $314,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in ALB. New York State Teachers Retirement System increased its stake in shares of Albemarle Corp. by 21.8% in the second quarter. New York State Teachers Retirement System now owns 167,823 shares of the company’s stock worth $13,310,000 after buying an additional 30,056 shares in the last quarter. Anchor Bolt Capital LP increased its stake in shares of Albemarle Corp. by 26.0% in the first quarter. Anchor Bolt Capital LP now owns 615,757 shares of the company’s stock worth $39,365,000 after buying an additional 126,989 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Albemarle Corp. by 3.7% in the first quarter. Geode Capital Management LLC now owns 692,194 shares of the company’s stock worth $44,226,000 after buying an additional 24,401 shares in the last quarter. Rothschild Investment Corp IL purchased a new stake in shares of Albemarle Corp. during the second quarter worth approximately $397,000. Finally, Gateway Investment Advisers LLC purchased a new stake in shares of Albemarle Corp. during the second quarter worth approximately $801,000. 88.50% of the stock is currently owned by institutional investors.
Albemarle Corp. (NYSE:ALB) traded up 0.61% during mid-day trading on Friday, hitting $80.93. 434,979 shares of the stock traded hands. The stock has a 50-day moving average of $81.06 and a 200 day moving average of $77.77. The firm has a market cap of $9.10 billion, a price-to-earnings ratio of 59.59 and a beta of 1.77. Albemarle Corp. has a 1-year low of $45.78 and a 1-year high of $87.29.
Albemarle Corp. (NYSE:ALB) last released its earnings results on Wednesday, August 3rd. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.08. Albemarle Corp. had a net margin of 4.54% and a return on equity of 14.52%. The firm earned $669.30 million during the quarter, compared to analyst estimates of $860.40 million. During the same quarter in the previous year, the firm earned $0.73 earnings per share. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. On average, equities analysts expect that Albemarle Corp. will post $3.48 EPS for the current year.
ALB has been the topic of a number of recent analyst reports. Deutsche Bank AG reissued a “buy” rating on shares of Albemarle Corp. in a research report on Wednesday, August 24th. Morgan Stanley reaffirmed a “hold” rating on shares of Albemarle Corp. in a research report on Thursday, June 16th. Zacks Investment Research raised shares of Albemarle Corp. from a “sell” rating to a “hold” rating in a research report on Monday. Citigroup Inc. reaffirmed a “buy” rating and issued a $89.00 target price on shares of Albemarle Corp. in a research report on Wednesday, June 29th. Finally, Nomura set a $92.00 target price on shares of Albemarle Corp. and gave the company a “buy” rating in a research report on Tuesday, August 23rd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Albemarle Corp. presently has an average rating of “Buy” and an average price target of $80.00.
In other news, CEO Luther C. Iv Kissam sold 50,000 shares of the company’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $83.19, for a total transaction of $4,159,500.00. Following the completion of the transaction, the chief executive officer now owns 233,000 shares in the company, valued at $19,383,270. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Sherman, Jr. sold 4,300 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $82.09, for a total transaction of $352,987.00. Following the transaction, the director now owns 1,500 shares of the company’s stock, valued at approximately $123,135. The disclosure for this sale can be found here. Company insiders own 0.71% of the company’s stock.
About Albemarle Corp.
Albemarle Corporation is a developer, manufacturer and marketer of specialty chemicals across a range of end markets, including the petroleum refining, consumer electronics, energy storage, construction, automotive, steel and aerospace, lubricants, pharmaceuticals, heating, ventilation, and aluminum finishing.
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