Stock Traders Buy High Volume of Call Options on Albemarle (NYSE:ALB)

Albemarle Corporation (NYSE:ALB) saw some unusual options trading on Monday. Traders bought 57,985 call options on the stock. This represents an increase of approximately 177% compared to the typical volume of 20,905 call options.

Albemarle Stock Up 1.8%

Shares of ALB traded up $2.58 during mid-day trading on Monday, hitting $146.51. 1,228,479 shares of the company’s stock were exchanged, compared to its average volume of 2,083,057. The firm has a fifty day moving average of $122.85 and a two-hundred day moving average of $94.36. The company has a quick ratio of 1.51, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. Albemarle has a twelve month low of $49.43 and a twelve month high of $152.08. The stock has a market cap of $17.24 billion, a price-to-earnings ratio of -92.19, a P/E/G ratio of 7.07 and a beta of 1.41.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, November 5th. The specialty chemicals company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.73. Albemarle had a positive return on equity of 0.10% and a negative net margin of 0.43%.The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the business posted ($1.55) earnings per share. The firm’s revenue was down 3.5% compared to the same quarter last year. On average, sell-side analysts forecast 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. Stockholders of record on Friday, December 12th were given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, December 12th. Albemarle’s dividend payout ratio is currently -101.89%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALB. Evercore ISI increased their price target on Albemarle from $88.00 to $100.00 and gave the company an “in-line” rating in a report on Tuesday, November 11th. Jefferies Financial Group restated a “buy” rating and issued a $167.00 target price on shares of Albemarle in a research note on Monday. Scotiabank boosted their target price on shares of Albemarle from $70.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, November 10th. Wells Fargo & Company raised their price target on Albemarle from $100.00 to $135.00 and gave the stock an “equal weight” rating in a report on Friday, December 19th. Finally, Zacks Research cut Albemarle from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $120.83.

Hedge Funds Weigh In On Albemarle

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in Albemarle by 10.6% in the 4th quarter. GAMMA Investing LLC now owns 8,319 shares of the specialty chemicals company’s stock worth $1,177,000 after purchasing an additional 796 shares during the last quarter. AIA Group Ltd acquired a new stake in Albemarle during the third quarter worth about $1,074,000. Mirabella Financial Services LLP bought a new position in Albemarle during the third quarter valued at about $1,505,000. FNY Investment Advisers LLC acquired a new position in Albemarle in the 3rd quarter valued at approximately $109,000. Finally, Allworth Financial LP raised its holdings in Albemarle by 7.5% in the 3rd quarter. Allworth Financial LP now owns 1,730 shares of the specialty chemicals company’s stock valued at $140,000 after acquiring an additional 120 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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.