Biltmore Wealth Management LLC Invests $482,000 in Albemarle Corporation $ALB

Biltmore Wealth Management 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 Securities and Exchange Commission (SEC). The firm acquired 3,408 shares of the specialty chemicals company’s stock, valued at approximately $482,000.

A number of other institutional investors have also recently added to or reduced their stakes in ALB. Per Stirling Capital Management LLC. grew its position in Albemarle by 2.8% during the third quarter. Per Stirling Capital Management LLC. now owns 3,332 shares of the specialty chemicals company’s stock worth $270,000 after buying an additional 91 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Albemarle by 18.2% in the third quarter. EverSource Wealth Advisors LLC now owns 677 shares of the specialty chemicals company’s stock valued at $55,000 after buying an additional 104 shares in the last quarter. Cromwell Holdings LLC lifted its position in shares of Albemarle by 36.8% during the 3rd quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 111 shares during the period. Money Concepts Capital Corp lifted its position in shares of Albemarle by 1.2% during the 3rd quarter. Money Concepts Capital Corp now owns 10,160 shares of the specialty chemicals company’s stock valued at $824,000 after acquiring an additional 116 shares during the period. Finally, Allworth Financial LP boosted its stake in shares of Albemarle by 7.5% during the 3rd quarter. Allworth Financial LP now owns 1,730 shares of the specialty chemicals company’s stock worth $140,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Albemarle Trading Down 0.1%

Shares of Albemarle stock opened at $178.21 on Friday. Albemarle Corporation has a 1 year low of $49.43 and a 1 year high of $206.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.23 and a quick ratio of 1.57. The business has a 50 day moving average price of $172.05 and a 200 day moving average price of $137.24. The company has a market capitalization of $21.01 billion, a P/E ratio of -30.99, a P/E/G ratio of 1.37 and a beta of 1.43.

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

Albemarle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were paid a $0.405 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.62 annualized dividend and a yield of 0.9%. Albemarle’s payout ratio is presently -28.17%.

Analyst Ratings Changes

A number of research firms recently weighed in on ALB. Morgan Stanley upped their price target on Albemarle from $147.00 to $170.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. UBS Group boosted their target price on Albemarle from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Robert W. Baird set a $210.00 target price on Albemarle and gave the company an “outperform” rating in a report on Wednesday, January 7th. Bank of America upgraded Albemarle from a “neutral” rating to a “buy” rating and raised their price target for the company from $167.00 to $190.00 in a research report on Tuesday, February 17th. Finally, Royal Bank Of Canada lifted their price target on Albemarle from $200.00 to $216.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Albemarle has a consensus rating of “Moderate Buy” and a consensus target price of $170.24.

Insider Transactions at Albemarle

In other Albemarle news, CEO J Kent Masters sold 11,783 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $170.81, for a total value of $2,012,654.23. Following the transaction, the chief executive officer directly owned 134,628 shares in the company, valued at approximately $22,995,808.68. This represents a 8.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

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.