Three Seasons Wealth LLC Invests $873,000 in Albemarle Corporation $ALB

Three Seasons Wealth LLC acquired a new stake in Albemarle Corporation (NYSE:ALB) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,165 shares of the specialty chemicals company’s stock, valued at approximately $873,000.

A number of other institutional investors also recently modified their holdings of the stock. AQR Capital Management LLC raised its holdings in shares of Albemarle by 25.5% during the first quarter. AQR Capital Management LLC now owns 3,223 shares of the specialty chemicals company’s stock valued at $229,000 after purchasing an additional 654 shares during the period. Integrated Wealth Concepts LLC grew its stake in shares of Albemarle by 26.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,798 shares of the specialty chemicals company’s stock valued at $346,000 after buying an additional 996 shares during the period. United Services Automobile Association acquired a new stake in shares of Albemarle in the 1st quarter valued at about $208,000. Empowered Funds LLC bought a new stake in Albemarle in the 1st quarter valued at about $411,000. Finally, Intech Investment Management LLC bought a new stake in Albemarle in the 2nd quarter valued at about $248,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Transactions at Albemarle

In other Albemarle news, CEO J Kent Masters sold 11,783 shares of Albemarle stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $170.81, for a total transaction of $2,012,654.23. Following the transaction, the chief executive officer directly owned 134,628 shares of the company’s stock, valued at $22,995,808.68. The trade was a 8.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ALB has been the topic of several recent research reports. Zacks Research lowered Albemarle from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 17th. Argus boosted their price objective on Albemarle from $140.00 to $185.00 in a report on Monday, February 23rd. JPMorgan Chase & Co. lowered their target price on Albemarle from $195.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th. Morgan Stanley increased their target price on Albemarle from $147.00 to $170.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Finally, Truist Financial set a $210.00 price target on shares of Albemarle in a research report on Friday, March 6th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $170.24.

Albemarle Stock Performance

Shares of ALB opened at $179.28 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.57 and a current ratio of 2.23. The stock has a 50 day moving average price of $172.27 and a two-hundred day moving average price of $136.66. The firm has a market capitalization of $21.14 billion, a P/E ratio of -31.18, a P/E/G ratio of 1.36 and a beta of 1.43. Albemarle Corporation has a 52 week low of $49.43 and a 52 week high of $206.00.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.13). The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. Albemarle had a negative net margin of 10.74% and a positive return on equity of 0.41%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.09) EPS. Equities analysts forecast that Albemarle Corporation will post -0.04 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a dividend of $0.405 per share. The ex-dividend date is Friday, March 13th. This represents a $1.62 annualized dividend and a yield of 0.9%. Albemarle’s dividend payout ratio (DPR) is -28.17%.

About Albemarle

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.