Investors Purchase Large Volume of Albemarle Call Options (NYSE:ALB)

Albemarle Corporation (NYSE:ALB) was the target of unusually large options trading activity on Monday. Traders purchased 57,985 call options on the company. This is an increase of approximately 177% compared to the typical volume of 20,905 call options.

Albemarle Stock Performance

ALB opened at $146.17 on Tuesday. The firm has a fifty day moving average price of $123.85 and a 200 day moving average price of $94.98. Albemarle has a 1 year low of $49.43 and a 1 year high of $152.08. The stock has a market cap of $17.20 billion, a P/E ratio of -91.93, a P/E/G ratio of 7.07 and a beta of 1.41. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.51.

Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.73. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Albemarle had a negative net margin of 0.43% and a positive return on equity of 0.10%. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.55) earnings per share. Equities research analysts anticipate that Albemarle will post -0.04 earnings per share for the current year.

Albemarle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 12th were issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, December 12th. Albemarle’s dividend payout ratio (DPR) is presently -101.89%.

Analyst Ratings Changes

ALB has been the topic of several research reports. Mizuho upped their target price on Albemarle from $110.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, December 18th. Jefferies Financial Group reiterated a “buy” rating and set a $167.00 price target on shares of Albemarle in a research note on Monday. Deutsche Bank Aktiengesellschaft raised their price objective on Albemarle from $110.00 to $125.00 and gave the stock a “hold” rating in a research note on Wednesday, December 3rd. Rothschild & Co Redburn lifted their target price on Albemarle from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Finally, Robert W. Baird set a $113.00 price target on shares of Albemarle and gave the stock a “neutral” rating in a report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eighteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Albemarle currently has an average rating of “Hold” and a consensus price target of $120.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Strategic Advocates LLC purchased a new stake in Albemarle in the 3rd quarter worth $25,000. Hantz Financial Services Inc. grew its position in shares of Albemarle by 10,050.0% in the second quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 402 shares during the period. BOKF NA increased its stake 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 worth $33,000 after purchasing an additional 404 shares in the last quarter. Cromwell Holdings LLC raised 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 worth $34,000 after purchasing an additional 111 shares during the last quarter. Finally, Physician Wealth Advisors Inc. purchased a new position in Albemarle in the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 92.87% 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.