The stock of Albemarle Corp. (NYSE:ALB) last traded at $145.89, up 4.16% from the previous session.
ALB stock price is now 8.71% away from the 50-day moving average and -22.23% away from the 200-day moving average. The market capitalization of the company currently stands at $17.12B.
With the price target reduced from $154 to $149, BofA Securities Upgraded its rating from Underperform to Neutral for Albemarle Corp. (NYSE: ALB).
In other news, Coleman Kristin M., EVP, General Counsel bought 1,373 shares of the company’s stock on Nov 07. The stock was bought for $167,314 at an average price of $121.86. Upon completion of the transaction, the EVP, General Counsel now directly owns 2,746 shares in the company, valued at $0.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 10, President, Energy Storage Norris Eric bought 1,260 shares of the business’s stock. A total of $246,317 was incurred on buying the stock at an average price of $195.49. This leaves the insider owning 26,596 shares of the company worth $3.88 million. Insiders disposed of 75,595 shares of company stock worth roughly $11.03 million over the past 1 year. A total of 0.29% of the company’s stock is owned by insiders.
During the past 12 months, Albemarle Corp. has had a low of $112.00 and a high of $293.01. As of last week, the company has a debt-to-equity ratio of 0.38, a current ratio of 1.81, and a quick ratio of 0.94. The fifty day moving average price for ALB is $134.20 and a two-hundred day moving average price translates $187.60 for the stock.
The latest earnings results from Albemarle Corp. (NYSE: ALB) was released for Sep, 2023. The net profit margin was 33.63% and return on equity was 39.97% for ALB. The company reported revenue of $2.31 billion for the quarter, compared to $2.09 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.46 percent.
Albemarle Corp.(ALB) Company Profile
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties and reagents, such as butyllithium and lithium aluminum hydride for use in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets. It also provides cesium products for the chemical and pharmaceutical industries; zirconium, barium, and titanium products for pyrotechnical applications that include airbag initiators; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services. The Bromine segment offers bromine and bromine-based products used in fire safety solutions; specialty chemicals, including elemental bromine, alkyl and inorganic bromides, brominated powdered activated carbon, and other bromine fine chemicals for use in chemical synthesis, oil and gas well drilling and completion fluids, mercury control, water purification, beef and poultry processing, and other industrial applications; and other specialty chemicals, such as tertiary amines for surfactants, biocides, disinfectants, and sanitizers. The Catalysts segment provides hydroprocessing, isomerization, and akylation catalysts; fluidized catalytic cracking catalysts and additives; and organometallics and curatives. The company serves the energy storage, petroleum refining, consumer electronics, construction, automotive, lubricants, pharmaceuticals, and crop protection markets. Albemarle Corporation was founded in 1887 and is headquartered in Charlotte, North Carolina.
