In the latest trading session,, 1.01 million Albemarle Corp. (NYSE:ALB) shares changed hands as the company’s beta touched 1.55. With the company’s most recent per share price at $84.88 changing hands around $2.1 or 2.53% at last look, the market valuation stands at $9.98B. ALB’s current price is a discount, trading about -139.89% off its 52-week high of $203.62. The share price had its 52-week low at $71.97, which suggests the last value was 15.21% up since then. When we look at Albemarle Corp.’s average trading volume, we note the 10-day average is 3.75 million shares, with the 3-month average coming to 3.14 million.
Analysts gave the Albemarle Corp. (ALB) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2.34. If we narrow down to specifics, the data shows that 2 out of 19 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 6 recommended ALB as a Hold, 11 felt it is a Buy and 0 rated the stock as Underweight.
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Albemarle Corp. (NYSE:ALB) trade information
Instantly ALB is in green as seen in intraday trades today. With action 9.91%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -41.25%, with the 5-day performance at 9.91% in the green. However, in the 30-day time frame, Albemarle Corp. (NYSE:ALB) is -9.29% down. Looking at the short shares, we see there were 14.49 million shares sold at short interest cover period of 5.17 days.
The consensus price target for the stock as assigned by Wall Street analysts is 164, meaning bulls need an upside of 48.24% from its recent market value. According to analyst projections, ALB’s forecast low is 83 with 320 as the target high. To hit the forecast high, the stock’s price needs a -277.0% plunge from its current level, while the stock would need to tank 2.21% for it to hit the projected low.
Albemarle Corp. (ALB) estimates and forecasts
Data shows that the Albemarle Corp. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -26.08% over the past 6 months, a -95.60% in annual growth rate that is considerably lower than the industry average of 1.40%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 16.09%. The 2024 estimates are for Albemarle Corp. earnings to decrease by -95.93%, but the outlook for the next 5-year period is at -6.21% per year.
ALB Dividends
Albemarle Corp. is expected to release its next quarterly earnings report on 2024-Oct-30. The 1.89% annual yield figure for the share gives it an annual dividend of 1.60. It is important to note, however, that the 1.89% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 1.18 per year.
Albemarle Corp. (NYSE:ALB)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.35% of Albemarle Corp. shares while 95.37% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 95.71%. There are 95.37% institutions holding the Albemarle Corp. stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-03-31, the company held 12.0117% of the shares, roughly 14.11 million ALB shares worth $1.86 billion.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 8.4395% or 9.91 million shares worth $1.31 billion as of 2024-03-31.
Among Mutual Funds, the top two as of Mar 31, 2024 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund . With 3.69 shares estimated at $314.07 million under it, the former controlled 3.14% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.52% of the shares, roughly 2.96 shares worth around $251.44 million.
