Korea Investment CORP boosted its position in shares of Albemarle Corporation (NYSE:ALB) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 102,444 shares of the specialty chemicals company’s stock after purchasing an additional 1,300 shares during the period. Korea Investment CORP owned 0.09% of Albemarle Corporation worth $13,964,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Albemarle Corporation by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 12,501,329 shares of the specialty chemicals company’s stock worth $1,319,389,000 after purchasing an additional 213,530 shares in the last quarter. Jennison Associates LLC grew its position in Albemarle Corporation by 12.0% during the 2nd quarter. Jennison Associates LLC now owns 6,421,530 shares of the specialty chemicals company’s stock worth $677,728,000 after purchasing an additional 689,054 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in Albemarle Corporation by 69.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,661,821 shares of the specialty chemicals company’s stock worth $175,389,000 after purchasing an additional 679,453 shares in the last quarter. Teachers Advisors LLC grew its position in Albemarle Corporation by 48.7% during the 2nd quarter. Teachers Advisors LLC now owns 1,189,424 shares of the specialty chemicals company’s stock worth $125,532,000 after purchasing an additional 389,666 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in Albemarle Corporation by 907.7% during the 2nd quarter. Janus Henderson Group PLC now owns 817,035 shares of the specialty chemicals company’s stock worth $86,230,000 after purchasing an additional 735,956 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

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Several equities analysts have weighed in on the stock. BMO Capital Markets assumed coverage on shares of Albemarle Corporation in a research report on Tuesday, October 24th. They set an “outperform” rating and a $160.00 price objective on the stock. Jefferies Group LLC reiterated a “buy” rating on shares of Albemarle Corporation in a research report on Tuesday, October 24th. Royal Bank Of Canada reiterated a “buy” rating and set a $149.00 price objective on shares of Albemarle Corporation in a research report on Wednesday, October 18th. Zacks Investment Research upgraded shares of Albemarle Corporation from a “hold” rating to a “buy” rating and set a $157.00 price objective on the stock in a research report on Tuesday, October 17th. Finally, KeyCorp lifted their price objective on shares of Albemarle Corporation from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, October 16th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $125.45.

Shares of Albemarle Corporation (NYSE ALB) opened at 139.76 on Tuesday. The company has a 50 day moving average of $135.12 and a 200 day moving average of $118.15. The firm has a market cap of $15.44 billion, a price-to-earnings ratio of 17.87 and a beta of 1.66. Albemarle Corporation has a 1-year low of $76.32 and a 1-year high of $141.40.

Albemarle Corporation (NYSE:ALB) last issued its quarterly earnings data on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.02. Albemarle Corporation had a net margin of 31.49% and a return on equity of 11.59%. The company had revenue of $737.25 million during the quarter, compared to the consensus estimate of $735.50 million. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. On average, equities analysts forecast that Albemarle Corporation will post $4.38 earnings per share for the current fiscal year.

In related news, 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 value of $624,810.69. Following the completion of the transaction, the executive vice president now owns 360 shares of the company’s stock, valued at $41,677.20. The transaction was disclosed in a legal filing with the SEC, 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 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 currently owned by company insiders.

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.

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

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