Stock Traders Purchase High Volume of Albemarle Call Options (ALB)

Share on StockTwits

Albemarle Co. (NYSE:ALB) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 19,891 call options on the company. This represents an increase of 1,955% compared to the typical daily volume of 968 call options.

In other news, EVP Karen G. Narwold sold 3,100 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $97.11, for a total transaction of $301,041.00. Following the transaction, the executive vice president now directly owns 30,242 shares in the company, valued at $2,936,800.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.80% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Jennison Associates LLC raised its holdings in shares of Albemarle by 21.4% in the second quarter. Jennison Associates LLC now owns 7,330,974 shares of the specialty chemicals company’s stock worth $691,531,000 after buying an additional 1,290,510 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of Albemarle by 1,220.5% in the second quarter. Baillie Gifford & Co. now owns 2,617,349 shares of the specialty chemicals company’s stock worth $246,894,000 after buying an additional 2,419,144 shares during the last quarter. Iridian Asset Management LLC CT raised its holdings in shares of Albemarle by 2.0% in the second quarter. Iridian Asset Management LLC CT now owns 2,024,607 shares of the specialty chemicals company’s stock worth $190,981,000 after buying an additional 38,781 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Albemarle by 6.9% in the second quarter. Wells Fargo & Company MN now owns 861,018 shares of the specialty chemicals company’s stock worth $81,220,000 after buying an additional 55,732 shares during the last quarter. Finally, SPF Beheer BV raised its holdings in shares of Albemarle by 2.2% in the second quarter. SPF Beheer BV now owns 757,757 shares of the specialty chemicals company’s stock worth $71,733,000 after buying an additional 15,960 shares during the last quarter. 90.89% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently issued reports on ALB. ValuEngine upgraded shares of Albemarle from a “sell” rating to a “hold” rating in a research note on Thursday. Loop Capital set a $130.00 price objective on shares of Albemarle and gave the company a “buy” rating in a research note on Friday, October 19th. Vertical Research began coverage on shares of Albemarle in a research note on Tuesday, September 25th. They set a “sell” rating and a $85.00 price objective on the stock. Vertical Group initiated coverage on shares of Albemarle in a research note on Tuesday, September 25th. They set a “sell” rating and a $85.00 price objective on the stock. Finally, SunTrust Banks upgraded shares of Albemarle from a “hold” rating to a “buy” rating and raised their target price for the company from $110.00 to $115.00 in a research note on Tuesday, September 4th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eighteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $124.55.

Shares of ALB opened at $99.22 on Thursday. The company has a market capitalization of $10.53 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 1.27 and a beta of 1.69. Albemarle has a twelve month low of $86.75 and a twelve month high of $144.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.19 and a quick ratio of 1.55.

Albemarle (NYSE:ALB) last announced its earnings results on Tuesday, August 7th. The specialty chemicals company reported $1.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.08. The company had revenue of $853.87 million during the quarter, compared to the consensus estimate of $799.49 million. Albemarle had a net margin of 10.17% and a return on equity of 14.51%. On average, equities analysts predict that Albemarle will post 5.38 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be issued a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.35%. Albemarle’s dividend payout ratio is currently 29.19%.

Albemarle Company Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.

Further Reading: What does cost of debt say about a company’s financial health?

Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply