Albemarle Target of Unusually Large Options Trading (NYSE:ALB)

Albemarle Corporation (NYSE:ALB) was the recipient of some unusual options trading activity on Thursday. Stock investors acquired 49,254 call options on the company. This is an increase of 388% compared to the average daily volume of 10,093 call options.

Insider Transactions at Albemarle

In other news, CEO J Kent Masters sold 16,393 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $183.72, for a total transaction of $3,011,721.96. Following the transaction, the chief executive officer owned 87,519 shares in the company, valued at approximately $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 can be accessed through the SEC website. 0.42% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Albemarle

A number of large investors have recently modified their holdings of the stock. Dakota Community Bank & Trust NA acquired a new stake in shares of Albemarle in the first quarter valued at approximately $54,000. Parallel Advisors LLC increased its stake in shares of Albemarle by 4.9% in the 1st quarter. Parallel Advisors LLC now owns 2,588 shares of the specialty chemicals company’s stock valued at $465,000 after buying an additional 120 shares during the period. NewEdge Advisors LLC raised its position in shares of Albemarle by 9.3% during the first quarter. NewEdge Advisors LLC now owns 8,679 shares of the specialty chemicals company’s stock worth $1,558,000 after acquiring an additional 740 shares during the last quarter. CTC Alternative Strategies Ltd. acquired a new position in shares of Albemarle during the first quarter valued at $251,000. Finally, Essential Partners LLC boosted its holdings in Albemarle by 73.3% in the first quarter. Essential Partners LLC now owns 383 shares of the specialty chemicals company’s stock valued at $69,000 after acquiring an additional 162 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Jefferies Financial Group raised their price objective on Albemarle from $230.00 to $244.00 in a research report on Monday, May 11th. Bank of America lifted their price target on shares of Albemarle from $190.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Vertical Research upgraded shares of Albemarle from a “hold” rating to a “buy” rating and set a $224.00 price objective for the company in a research note on Tuesday, May 26th. Argus upped their target price on shares of Albemarle from $185.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, Wells Fargo & Company upped their price objective on Albemarle from $165.00 to $200.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $203.04.

Albemarle Price Performance

Shares of NYSE:ALB traded up $11.67 during trading on Thursday, reaching $158.89. The stock had a trading volume of 2,232,638 shares, compared to its average volume of 2,505,103. The stock has a market capitalization of $18.74 billion, a PE ratio of -46.60, a P/E/G ratio of 0.77 and a beta of 1.30. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.07 and a quick ratio of 1.21. Albemarle has a 52 week low of $55.90 and a 52 week high of $221.00. The business’s 50-day moving average price is $181.91 and its 200 day moving average price is $166.71.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $1.71. Albemarle had a positive return on equity of 5.22% and a negative net margin of 5.00%.The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the firm posted ($0.18) EPS. The business’s revenue was up 32.7% on a year-over-year basis. As a group, equities analysts predict that Albemarle will post 12.39 earnings per share for the current year.

Albemarle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, June 12th. Albemarle’s payout ratio is currently -47.51%.

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.