Three Seasons Wealth LLC Acquires 9,013 Shares of Albemarle Corporation $ALB

Three Seasons Wealth LLC lifted its stake in shares of Albemarle Corporation (NYSE:ALB) by 146.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,178 shares of the specialty chemicals company’s stock after buying an additional 9,013 shares during the quarter. Albemarle comprises approximately 1.0% of Three Seasons Wealth LLC’s investment portfolio, making the stock its 26th largest holding. Three Seasons Wealth LLC’s holdings in Albemarle were worth $2,731,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Strategic Advocates LLC acquired a new stake in Albemarle in the third quarter worth $25,000. MH & Associates Securities Management Corp ADV acquired a new position in shares of Albemarle during the fourth quarter valued at about $26,000. BOKF NA raised its holdings in shares of Albemarle by 5,771.4% during the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 404 shares during the period. Elyxium Wealth LLC bought a new position in shares of Albemarle during the 4th quarter worth about $34,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Albemarle by 536.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 483 shares during the period. Institutional investors own 92.87% of the company’s stock.

Albemarle Trading Down 3.0%

NYSE:ALB opened at $124.93 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 2.07. The firm has a market cap of $14.73 billion, a price-to-earnings ratio of -36.64 and a beta of 1.34. Albemarle Corporation has a 52 week low of $64.95 and a 52 week high of $221.00. The firm has a 50-day moving average price of $159.69 and a two-hundred day moving average price of $168.67.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $1.71. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. Albemarle had a positive return on equity of 5.22% and a negative net margin of 5.00%.The company’s revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.18) EPS. On average, equities analysts expect that Albemarle Corporation will post 13.06 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were given a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.62 annualized dividend and a dividend yield of 1.3%. Albemarle’s dividend payout ratio (DPR) is currently -47.51%.

Wall Street Analysts Forecast Growth

ALB has been the topic of a number of research reports. HSBC upped their price target on Albemarle from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. UBS Group raised their price objective on Albemarle from $230.00 to $264.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Wall Street Zen raised Albemarle from a “buy” rating to a “strong-buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft increased their target price on Albemarle from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Citigroup raised shares of Albemarle from a “neutral” rating to a “buy” rating and set a $225.00 price target for the company in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Albemarle presently has a consensus rating of “Moderate Buy” and an average target price of $204.48.

Insider Activity

In other news, CEO J Kent Masters sold 16,393 shares of Albemarle stock in a transaction on Friday, May 15th. The stock was sold at an average price of $183.72, for a total transaction of $3,011,721.96. Following the sale, the chief executive officer directly owned 87,519 shares in the company, valued at $16,078,990.68. The trade was a 15.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

Albemarle Company Profile

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.