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Albemarle Corporation (NYSE: ALB): Can A Stock That’s Down -5.87% YTD Still Be Considered In Loss Territory?

During the recent session, Albemarle Corporation (NYSE:ALB)’s traded shares were 0.75 million, with the beta value of the company hitting 1.52. At the last check today, the stock’s price was $204.14, reflecting an intraday loss of -3.81% or -$8.09. The 52-week high for the ALB share is $334.55, that puts it down -63.88 from that peak though still a striking 15.83% gain since the share price plummeted to a 52-week low of $171.82. The company’s market capitalization is $25.63B, and the average intraday trading volume over the past 10 days was 2.15 million shares, and the average trade volume was 2.28 million shares over the past three months.

Albemarle Corporation (ALB) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.20. ALB has a Sell rating from 2 analyst(s) out of 28 analysts who have looked at this stock. 6 analyst(s) recommend to Hold the stock while 3 suggest Overweight, and 17 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $4.28.

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Albemarle Corporation (NYSE:ALB) trade information

Albemarle Corporation (ALB) registered a -3.81% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -3.81% in intraday trading to $204.14 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -2.86%, and it has moved by 12.66% in 30 days. Based on these gigs, the overall price performance for the year is -16.04%. The short interest in Albemarle Corporation (NYSE:ALB) is 5.53 million shares and it means that shorts have 2.12 day(s) to cover.

The consensus price target of analysts on Wall Street is $263.73, which implies an increase of 22.6% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $155.00 and $360.00 respectively. As a result, ALB is trading at a discount of -76.35% off the target high and 24.07% off the low.

Albemarle Corporation (ALB) estimates and forecasts

Statistics show that Albemarle Corporation has outperformed its competitors in share price, compared to the industry in which it operates. Albemarle Corporation (ALB) shares have gone down -27.89% during the last six months, with a year-to-date growth rate more than the industry average at 8.52% against -8.70. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 24.10% this quarter and then drop -52.50% in the quarter after that. In the rating firms’ projections, revenue will increase 36.60% compared to the previous financial year.

Revenue for the current quarter is expected to be $2.44 billion as predicted by 14 analyst(s). Meanwhile, a consensus of 14 analyst(s) estimates revenue growth to $2.47 billion by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $1.48 billion and $2.25 billion respectively. In this case, analysts expect current quarter sales to grow by 64.90% and then jump by 9.80% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 43.50%. While earnings are projected to return 2.00% in 2023, the next five years will return 47.94% per annum.

ALB Dividends

Albemarle Corporation is due to release its next quarterly earnings between August 01 and August 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Albemarle Corporation is 1.60, with the dividend yield indicating at 0.75 percent, continuing the trend of increasing dividends in recent years.

Albemarle Corporation (NYSE:ALB)’s Major holders

Albemarle Corporation insiders own 0.22% of total outstanding shares while institutional holders control 87.05%, with the float percentage being 87.24%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 1,429 institutions own stock in it. As of Mar 30, 2023, the company held over 14.2 million shares (or 12.11% of all shares), a total value of $2.91 billion in shares.

The next largest institutional holding, with 9.58 million shares, is of Blackrock Inc.’s that is approximately 8.17% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $1.97 billion.

Also, the Mutual Funds coming in first place with the largest holdings of Albemarle Corporation (ALB) shares are Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 3.56 million shares. This amounts to just over 3.03 percent of the company’s overall shares, with a $730.23 million market value. The same data shows that the other fund manager holds slightly less at 2.73 million, or about 2.33% of the stock, which is worth about $559.59 million.

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