Traders Buy Large Volume of Put Options on Albemarle Corporation (ALB)
Albemarle Corporation (NYSE:ALB) was the recipient of unusually large options trading on Thursday. Stock investors bought 8,947 put options on the company. This represents an increase of approximately Infinity compared to the average volume of 0 put options.
In other news, EVP Karen G. Narwold sold 11,500 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $115.95, for a total value of $1,333,425.00. Following the sale, the executive vice president now owns 36,620 shares in the company, valued at $4,246,089. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Matthew Juneau sold 5,397 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $115.77, for a total value of $624,810.69. Following the completion of the sale, the executive vice president now owns 360 shares in the company, valued at approximately $41,677.20. The disclosure for this sale can be found here. 0.74% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its position in Albemarle Corporation by 2.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock worth $102,000 after acquiring an additional 20 shares during the period. Thompson Davis & CO. Inc. grew its position in Albemarle Corporation by 650.0% in the third quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock worth $102,000 after acquiring an additional 650 shares during the period. Carroll Financial Associates Inc. grew its position in Albemarle Corporation by 0.3% in the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock worth $103,000 after acquiring an additional 3 shares during the period. Smithfield Trust Co. grew its position in Albemarle Corporation by 16.1% in the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock worth $106,000 after acquiring an additional 140 shares during the period. Finally, Highlander Capital Management LLC purchased a new position in Albemarle Corporation in the second quarter worth approximately $106,000. Institutional investors own 83.82% of the company’s stock.
ALB has been the subject of a number of analyst reports. Robert W. Baird reaffirmed an “outperform” rating and issued a $135.00 price target (up previously from $125.00) on shares of Albemarle Corporation in a report on Tuesday, July 18th. They noted that the move was a valuation call. BidaskClub cut Albemarle Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research cut Albemarle Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. SunTrust Banks, Inc. cut Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 price target for the company. in a report on Wednesday, August 9th. Finally, Vertical Research reaffirmed a “hold” rating and issued a $109.00 price target (up previously from $108.00) on shares of Albemarle Corporation in a report on Thursday, August 10th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $128.15.
Shares of Albemarle Corporation (NYSE ALB) opened at $140.62 on Friday. Albemarle Corporation has a fifty-two week low of $76.32 and a fifty-two week high of $144.99. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.11 and a quick ratio of 1.67. The company has a market capitalization of $15,562.20, a P/E ratio of 34.86, a P/E/G ratio of 2.16 and a beta of 1.72.
Albemarle Corporation (NYSE:ALB) last posted its quarterly earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.07 by $0.01. The firm had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $732.19 million. Albemarle Corporation had a return on equity of 11.61% and a net margin of 30.07%. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 earnings per share. research analysts forecast that Albemarle Corporation will post 4.4 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a $0.32 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.28 annualized dividend and a yield of 0.91%. Albemarle Corporation’s payout ratio is 16.56%.
Albemarle Corporation Company Profile
Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.
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