Investors Buy Large Volume of Albemarle Put Options (NYSE:ALB)

Albemarle Co. (NYSE:ALB) saw some unusual options trading on Monday. Traders bought 24,746 put options on the stock. This is an increase of 94% compared to the typical volume of 12,725 put options.

Albemarle Price Performance

NYSE:ALB traded down $1.33 during mid-day trading on Monday, reaching $51.58. 995,855 shares of the stock were exchanged, compared to its average volume of 2,711,724. Albemarle has a 1-year low of $49.43 and a 1-year high of $137.50. The company has a current ratio of 1.95, a quick ratio of 1.19 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $6.07 billion, a PE ratio of -4.61 and a beta of 1.59. The business has a fifty day moving average price of $71.06 and a 200 day moving average price of $87.10.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.49). Albemarle had a negative net margin of 21.93% and a negative return on equity of 1.72%. Research analysts expect that Albemarle will post -0.04 earnings per share for the current fiscal year.

Albemarle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.405 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.62 annualized dividend and a dividend yield of 3.14%. Albemarle’s dividend payout ratio (DPR) is presently -14.46%.

Analyst Ratings Changes

A number of research firms recently issued reports on ALB. Royal Bank of Canada reduced their price objective on Albemarle from $133.00 to $114.00 and set an “overweight” rating for the company in a research report on Wednesday, February 12th. UBS Group lowered their price target on shares of Albemarle from $86.00 to $64.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. BMO Capital Markets cut their price objective on shares of Albemarle from $150.00 to $140.00 in a research report on Wednesday, February 12th. Wells Fargo & Company decreased their target price on shares of Albemarle from $80.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Finally, Robert W. Baird cut their price target on Albemarle from $77.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $96.05.

Institutional Investors Weigh In On Albemarle

Institutional investors have recently bought and sold shares of the business. Assetmark Inc. lifted its position in Albemarle by 340.6% in the 4th quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 235 shares in the last quarter. Trust Co. of Vermont increased its stake in shares of Albemarle by 606.5% in the fourth quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 279 shares during the last quarter. SJS Investment Consulting Inc. purchased a new stake in shares of Albemarle during the first quarter worth $32,000. First Community Trust NA boosted its position in Albemarle by 55.0% during the fourth quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 142 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Albemarle in the fourth quarter valued at about $34,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.