The $128.87 Value Of Albemarle Corp. (NYSE: ALB) Should Not Be Underestimated

During the last session, Albemarle Corp. (NYSE:ALB)’s traded shares were 1.95 million, with the beta value of the company hitting 1.65. At the end of the trading day, the stock’s price was $128.87, reflecting an intraday gain of 1.89% or $2.39. The 52-week high for the ALB share is $247.44, that puts it down -92.01 from that peak though still a striking 17.21% gain since the share price plummeted to a 52-week low of $106.69. The company’s market capitalization is $15.14B, and the average intraday trading volume over the past 10 days was 2.71 million shares, and the average trade volume was 3.46 million shares over the past three months.

Albemarle Corp. (NYSE:ALB) trade information

Albemarle Corp. (ALB) registered a 1.89% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.89% in intraday trading to $128.87, hitting a weekly high. The stock’s 5-day price performance is 8.29%, and it has moved by -3.25% in 30 days. Based on these gigs, the overall price performance for the year is -41.70%. The short interest in Albemarle Corp. (NYSE:ALB) is 14.13 million shares and it means that shorts have 2.9 day(s) to cover.

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Albemarle Corp. (ALB) estimates and forecasts

Statistics show that Albemarle Corp. has underperformed its competitors in share price, compared to the industry in which it operates. Albemarle Corp. (ALB) shares have gone down -20.65% during the last six months, with a year-to-date growth rate less than the industry average at -85.84% against 3.80. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -97.50% this quarter and then drop -93.50% in the quarter after that. In the rating firms’ projections, revenue will decrease -39.00% compared to the previous financial year.

Revenue for the current quarter is expected to be $1.27 billion as predicted by 14 analyst(s). Meanwhile, a consensus of 14 analyst(s) estimates revenue growth to $1.36 billion by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $2.73 billion and $2.43 billion respectively. In this case, analysts expect current quarter sales to shrink by -53.40% and then drop by -43.90% 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 16.09%. While earnings are projected to return -80.05% in 2024, the next five years will return -8.76% per annum.

ALB Dividends

Albemarle Corp. is due to release its next quarterly earnings between May 01 and May 06. 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 Corp. is 1.60, with the dividend yield indicating at 1.24 percent, continuing the trend of increasing dividends in recent years.

Albemarle Corp. (NYSE:ALB)’s Major holders

Albemarle Corp. insiders own 0.32% of total outstanding shares while institutional holders control 95.99%, with the float percentage being 96.29%. Vanguard Group Inc is the largest shareholder of the company, while 1,336 institutions own stock in it. As of Jun 29, 2023, the company held over 14.04 million shares (or 11.96% of all shares), a total value of $3.13 billion in shares.

The next largest institutional holding, with 10.16 million shares, is of Blackrock Inc.’s that is approximately 8.66% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $2.27 billion.

Also, the Mutual Funds coming in first place with the largest holdings of Albemarle Corp. (ALB) shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 3.66 million shares. This amounts to just over 3.12 percent of the company’s overall shares, with a $815.51 million market value. The same data shows that the other fund manager holds slightly less at 2.79 million, or about 2.38% of the stock, which is worth about $623.2 million.