CAPROCK Group Inc. Purchases 72 Shares of Albemarle Corporation (ALB)

CAPROCK Group Inc. raised its stake in shares of Albemarle Corporation (NYSE:ALB) by 3.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,047 shares of the specialty chemicals company’s stock after buying an additional 72 shares during the period. CAPROCK Group Inc.’s holdings in Albemarle Corporation were worth $217,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ALB. CIBC Asset Management Inc boosted its stake in shares of Albemarle Corporation by 0.3% in the second quarter. CIBC Asset Management Inc now owns 13,097 shares of the specialty chemicals company’s stock valued at $1,382,000 after buying an additional 40 shares in the last quarter. Pillar Pacific Capital Management LLC boosted its stake in shares of Albemarle Corporation by 162.8% in the second quarter. Pillar Pacific Capital Management LLC now owns 31,610 shares of the specialty chemicals company’s stock valued at $3,336,000 after buying an additional 19,580 shares in the last quarter. Honkamp Krueger Financial Services Inc. boosted its stake in shares of Albemarle Corporation by 0.7% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 7,439 shares of the specialty chemicals company’s stock valued at $785,000 after buying an additional 54 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Albemarle Corporation by 38.5% in the second quarter. Great West Life Assurance Co. Can now owns 108,665 shares of the specialty chemicals company’s stock valued at $11,455,000 after buying an additional 30,232 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Albemarle Corporation by 15.2% in the second quarter. Janney Montgomery Scott LLC now owns 4,084 shares of the specialty chemicals company’s stock valued at $431,000 after buying an additional 538 shares in the last quarter. 86.22% of the stock is owned by institutional investors.

Shares of Albemarle Corporation (NYSE:ALB) traded up 0.43% during trading on Friday, hitting $112.59. 872,711 shares of the stock traded hands. The firm has a market cap of $12.44 billion, a PE ratio of 14.40 and a beta of 1.59. Albemarle Corporation has a 52-week low of $75.11 and a 52-week high of $123.48. The company’s 50 day moving average is $114.49 and its 200 day moving average is $107.23.

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 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 during the quarter, compared to the consensus estimate of $735.50 million. During the same period in the previous year, the firm earned $0.93 earnings per share. Albemarle Corporation’s revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts predict that Albemarle Corporation will post $4.36 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a $0.32 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.14%. Albemarle Corporation’s payout ratio is 16.41%.

Several analysts recently issued reports on the stock. CIBC assumed coverage on shares of Albemarle Corporation in a research note on Thursday. They set an “outperform” rating and a $133.00 price objective for the company. Oppenheimer Holdings, Inc. assumed coverage on shares of Albemarle Corporation in a research note on Wednesday. They set an “outperform” rating and a $133.00 price objective for the company. BidaskClub cut shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Vertical Research reaffirmed a “hold” rating and set a $109.00 price objective (up previously from $108.00) on shares of Albemarle Corporation in a research note on Thursday, August 10th. Finally, 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. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $109.61.

In other Albemarle Corporation news, CFO Scott Tozier sold 25,000 shares of Albemarle Corporation stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $110.13, for a total transaction of $2,753,250.00. Following the transaction, the chief financial officer now directly owns 57,506 shares of the company’s stock, valued at $6,333,135.78. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Luther C. Iv Kissam sold 50,000 shares of Albemarle Corporation stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $110.08, for a total transaction of $5,504,000.00. Following the transaction, the chairman now directly owns 252,917 shares in the company, valued at $27,841,103.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 105,000 shares of company stock valued at $11,499,850. 0.74% of the stock is owned by insiders.

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.