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

Albemarle Corporation (NYSE:ALB) was the target of unusually large options trading activity on Tuesday. Traders bought 37,393 call options on the stock. This represents an increase of 83% compared to the average daily volume of 20,478 call options.

Albemarle Stock Performance

Shares of NYSE:ALB traded down $8.38 during trading on Tuesday, reaching $88.15. The stock had a trading volume of 3,392,629 shares, compared to its average volume of 3,557,672. Albemarle has a 52 week low of $49.43 and a 52 week high of $113.91. The firm has a market capitalization of $10.37 billion, a price-to-earnings ratio of -9.46 and a beta of 1.65. The company has a quick ratio of 1.47, a current ratio of 2.31 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $87.52 and a two-hundred day simple moving average of $73.41.

Albemarle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 12th will be issued a $0.405 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $1.62 dividend on an annualized basis and a yield of 1.8%. Albemarle’s dividend payout ratio (DPR) is -17.38%.

Analysts Set New Price Targets

Several research firms recently commented on ALB. Rothschild Redb upgraded shares of Albemarle to a “strong-buy” rating in a report on Friday, October 24th. Mizuho raised their price target on shares of Albemarle from $78.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Albemarle in a report on Wednesday, October 8th. Jefferies Financial Group raised their price objective on shares of Albemarle from $105.00 to $124.00 in a research report on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Albemarle from $74.00 to $95.00 in a research report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, Albemarle has an average rating of “Hold” and an average price target of $96.13.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Hantz Financial Services Inc. grew its stake in shares of Albemarle by 10,050.0% in the second quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 402 shares during the last quarter. CVA Family Office LLC boosted its holdings in Albemarle by 7,257.1% in the 2nd quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 508 shares during the period. National Pension Service grew its position in Albemarle by 74.5% in the 1st quarter. National Pension Service now owns 452 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 193 shares during the last quarter. Cromwell Holdings LLC increased its holdings in shares of Albemarle by 36.8% during the 3rd quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 111 shares during the period. Finally, Costello Asset Management INC acquired a new position in shares of Albemarle during the first quarter valued at about $36,000. 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.