Albemarle Corporation (ALB) Shares Bought by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. lifted its holdings in shares of Albemarle Corporation (NYSE:ALB) by 17.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,003 shares of the specialty chemicals company’s stock after purchasing an additional 3,081 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Albemarle Corporation were worth $2,216,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Albemarle Corporation by 2.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock worth $102,000 after purchasing an additional 20 shares during the period. Carroll Financial Associates Inc. grew its holdings in shares of Albemarle Corporation by 0.3% during the 2nd quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock worth $103,000 after purchasing an additional 3 shares during the period. Highlander Capital Management LLC purchased a new position in shares of Albemarle Corporation during the 2nd quarter worth $106,000. Smithfield Trust Co. grew its holdings in shares of Albemarle Corporation by 16.1% during the 2nd quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock worth $106,000 after purchasing an additional 140 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Albemarle Corporation by 0.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,458 shares of the specialty chemicals company’s stock worth $154,000 after purchasing an additional 4 shares during the period. Institutional investors and hedge funds own 83.77% of the company’s stock.

In other news, EVP Matthew Juneau sold 5,397 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $115.77, for a total transaction of $624,810.69. Following the sale, the executive vice president now directly owns 360 shares in the company, valued at approximately $41,677.20. The sale 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 stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $115.95, for a total value of $1,333,425.00. Following the sale, the executive vice president now owns 36,620 shares in the company, valued at $4,246,089. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by corporate insiders.

Albemarle Corporation (NYSE ALB) traded up 0.7449% during midday trading on Friday, reaching $138.3228. The company’s stock had a trading volume of 178,320 shares. The company has a 50 day moving average of $127.83 and a 200-day moving average of $115.03. The company has a market capitalization of $15.28 billion, a P/E ratio of 17.6906 and a beta of 1.67. Albemarle Corporation has a 1-year low of $76.32 and a 1-year high of $140.10.

Albemarle Corporation (NYSE:ALB) last announced its quarterly earnings data 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 return on equity of 11.59% and a net margin of 31.49%. The firm had revenue of $737.25 million for the quarter, compared to analysts’ expectations of $735.50 million. During the same quarter in the prior year, the firm posted $0.93 earnings per share. Albemarle Corporation’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts anticipate that Albemarle Corporation will post $4.38 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally published by Stock Observer and is owned by of Stock Observer. If you are accessing this piece of content on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The original version of this piece of content can be viewed at https://www.thestockobserver.com/2017/10/13/albemarle-corporation-alb-shares-bought-by-ameritas-investment-partners-inc.html.

A number of equities analysts have recently weighed in on the company. CIBC assumed coverage on Albemarle Corporation in a report on Thursday, August 17th. They set an “outperform” rating and a $133.00 price target for the company. Piper Jaffray Companies reissued an “overweight” rating and set a $47.00 target price on shares of Albemarle Corporation in a research note on Thursday, June 29th. SunTrust Banks, Inc. lowered Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 target price on the stock. in a research note on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) lowered Albemarle Corporation from a “buy” rating to a “neutral” rating and increased their target price for the stock from $139.66 to $142.00 in a research note on Friday, October 6th. Finally, Robert W. Baird reissued an “outperform” rating and set a $125.00 target price on shares of Albemarle Corporation in a research note on Wednesday, June 28th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Albemarle Corporation currently has an average rating of “Buy” and a consensus target price of $118.05.

Albemarle Corporation 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.

Want to see what other hedge funds are holding ALB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Albemarle Corporation (NYSE:ALB).

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

Receive News & Ratings for Albemarle Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply