In the last trading session, 3.98 million shares of the Albemarle Corp. (NYSE:ALB) were traded, and its beta was 1.62. Most recently the company’s share price was $131.74, and it changed around $2.94 or 2.28% from the last close, which brings the market valuation of the company to $15.48B. ALB currently trades at a discount to its 52-week high of $247.44, offering almost -87.82% off that amount. The share price’s 52-week low was $106.69, which indicates that the current value has risen by an impressive 19.01% since then. We note from Albemarle Corp.’s average daily trading volume that its 10-day average is 2.81 million shares, with the 3-month average coming to 3.43 million.
Albemarle Corp. stock received a consensus recommendation rating of Buy, based on a mean score of 2.13. If we narrow it down even further, the data shows that 2 out of 27 analysts rate the stock as a Sell; another 5 rate it as Overweight. Among the rest, 9 recommended ALB as a Hold, whereas 11 deemed it a Buy, and 0 rated it as Underweight.
Albemarle Corp. (NYSE:ALB) trade information
Instantly ALB has showed a green trend with a performance of 2.28% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -8.82% year-to-date, but still up 5.51% over the last five days. On the other hand, Albemarle Corp. (NYSE:ALB) is -0.24% down in the 30-day period. We can see from the shorts that 14.13 million shares have been sold at a short interest cover period of 2.9 day(s).
The consensus price target as assigned by Wall Street analysts is $246.6, which translates to bulls needing to increase their stock price by 46.58% from its current value. Analyst projections state that ALB is forecast to be at a low of $155 and a high of $320.
Albemarle Corp. (ALB) estimates and forecasts
Albemarle Corp. 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 fallen -18.99 percent over the past six months and at a -85.84% annual growth rate that is well below the industry average of 3.80%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 16.09%. Albemarle Corp. earnings are expected to increase by -80.05% in 2024, but the outlook is negative -8.76% per year for the next five years.
ALB Dividends
Albemarle Corp.’s next quarterly earnings report is expected to be released around May 01 and May 06. The annual dividend yield of the stock is 1.21 percent and its annual dividend per share was 1.60. It is important to note, however, that the 1.21% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Albemarle Corp. (NYSE:ALB)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.32% of Albemarle Corp. shares, and 95.95% of them are in the hands of institutional investors. The stock currently has a share float of 96.25%. Albemarle Corp. stock is held by 1,344 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 11.96% of the shares, which is about 14.04 million shares worth $3.13 billion.
Blackrock Inc., with 8.66% or 10.16 million shares worth $2.27 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 3.66 million shares worth $815.51 million, making up 3.12% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 2.79 million shares worth around $623.2 million, which represents about 2.38% of the total shares outstanding.
