In today’s recent session, 0.85 million shares of the Albemarle Corporation (NYSE:ALB) have been traded, and its beta is 1.55. Most recently the company’s share price was $192.18, and it changed around $4.93 or 2.63% from the last close, which brings the market valuation of the company to $22.48B. ALB at last check was trading at a discount to its 52-week high of $192.77, offering almost -0.31% off that amount. The share price’s 52-week low was $79.06, which indicates that the recent value has risen by an impressive 58.86% since then. We note from Albemarle Corporation’s average daily trading volume that its 10-day average is 1.62 million shares, with the 3-month average coming to 1.01 million.
Albemarle Corporation stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.50. If we narrow it down even further, the data shows that 3 out of 25 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 9 recommended ALB as a Hold, whereas 11 deemed it a Buy, and 1 rated it as Underweight. Albemarle Corporation is expected to report earnings per share of $0.83 for the current quarter.
Albemarle Corporation (NYSE:ALB) trade information
Instantly ALB has been showing a green trend so far today with a performance of 2.63% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 198.33 on Tuesday, 07/20/21 increased the stock’s daily price by 3.1%. The company’s shares are currently up 26.93% year-to-date, but still up 1.29% over the last five days. On the other hand, Albemarle Corporation (NYSE:ALB) is 18.54% up in the 30-day period. We can see from the shorts that 2.11 million shares have been sold at a short interest cover period of 2.45 day(s).
The consensus price target as assigned by Wall Street analysts is $168.88, which translates to bulls needing to decrease their stock price by -13.8% from its current value. Analyst projections state that ALB is forecast to be at a low of $80.00 and a high of $219.00. In order for the stock price to hit the forecast high, the stock would need to plunge -13.96% from its current level, while the stock would need to crash 58.37% from its current level to reach the projected low.
Albemarle Corporation (ALB) estimates and forecasts
Albemarle Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 1.08 percent over the past six months and at a -12.14% annual growth rate that is well below the industry average of 27.20%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will loss -3.50% in revenue this quarter, and will report a decrease of -26.60% in the next quarter. The year-over-year growth rate is expected to be 3.60%, up from the previous year.
Consensus estimates provided by 14 financial analysts predict the company will bring in an average of $788.6 million in revenue for the current quarter. 14 analysts expect Albemarle Corporation to make $769.3 million in revenue for the quarter ending Sep 2021. The company’s sales for the same quarters a year ago were $764.05 million and $746.87 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 3.20%. Forecasts for the next quarter put sales growth at 3.00%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 5.40%. Albemarle Corporation earnings are expected to increase by -29.90% in 2021, but the outlook is positive 29.83% per year for the next five years.
Albemarle Corporation’s next quarterly earnings report is expected to be released around August 03 and August 09. The annual dividend yield of the stock is 0.83 percent and its annual dividend per share was 1.56. It is important to note, however, that the 0.83% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 1.48 per year.
Albemarle Corporation (NYSE:ALB)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.35% of Albemarle Corporation shares, and 83.30% of them are in the hands of institutional investors. The stock currently has a share float of 83.59%. Albemarle Corporation stock is held by 1,018 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2021, it held 11.36% of the shares, which is about 13.26 million shares worth $1.94 billion.
Blackrock Inc., with 7.56% or 8.83 million shares worth $1.29 billion as of Mar 30, 2021, holds the second largest percentage of outstanding shares.
Franklin Managed Trust – Rising Dividends Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Mar 30, 2021. The former held 3.55 million shares worth $519.01 million, making up 3.04% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 3.29 million shares worth around $480.3 million, which represents about 2.82% of the total shares outstanding.