In today’s recent session, 0.39 million shares of the Albemarle Corp (NYSE:ALB) have been traded, and its beta is 1.74. Most recently the company’s share price was $58.82, and it changed around $2.15 or 3.79% from the last close, which brings the market valuation of the company to $6.92B. ALB at last check was trading at a discount to its 52-week high of $137.50, offering almost -133.76% off that amount. The share price’s 52-week low was $49.43, which indicates that the recent value has risen by an impressive 15.96% since then. We note from Albemarle Corp’s average daily trading volume that its 10-day average is 4.94 million shares, with the 3-month average coming to 2.99 million.
Albemarle Corp stock received a consensus recommendation rating of Hold, based on a mean score of 2.43. If we narrow it down even further, the data shows that 1 out of 29 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 17 recommended ALB as a Hold, whereas 7 deemed it a Buy, and 1 rated it as Underweight. Albemarle Corp is expected to report earnings per share of -0.64 for the current quarter.
Albemarle Corp (NYSE:ALB) trade information
Instantly ALB has been showing a green trend so far today with a performance of 3.79% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 62.09 on recent trading dayincreased the stock’s daily price by 5.27%. The company’s shares are currently down -31.67% year-to-date, but still up 1.24% over the last five days. On the other hand, Albemarle Corp (NYSE:ALB) is -21.81% down in the 30-day period. We can see from the shorts that 12.97 million shares have been sold at a short interest cover period of 4.93 day(s).
The consensus price target as assigned by Wall Street analysts is $93.5, which translates to bulls needing to increase their stock price by 37.09% from its current value. Analyst projections state that ALB is forecast to be at a low of $68 and a high of $127.
Albemarle Corp (ALB) estimates and forecasts
The year-over-year growth rate is expected to be -6.01%, down from the previous year.
Consensus estimates provided by 17 financial analysts predict the company will bring in an average of 1.17B in revenue for the current quarter. 16 analysts expect Albemarle Corp to make 1.23B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 1.36B and 1.43B respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -14.12%. Forecasts for the next quarter put sales growth at -13.75%.
ALB Dividends
Albemarle Corp’s next quarterly earnings report is expected to be released on 2025-Feb-11. The annual dividend yield of the stock is 2.75 percent and its annual dividend per share was 1.61. It is important to note, however, that the 2.75% 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 1.13 per year.
Albemarle Corp (NYSE:ALB)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.38% of Albemarle Corp shares, and 99.36% of them are in the hands of institutional investors. The stock currently has a share float of 99.74%. Albemarle Corp stock is held by 1155.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 12.1856% of the shares, which is about 14.31 million shares worth $1.37 billion.
BLACKROCK INC., with 8.4776% or 9.96 million shares worth $951.72 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
AMERICAN BALANCED FUND and GROWTH FUND OF AMERICA were the top two Mutual Funds as of Dec 31, 2024 . The former held 4.45 shares worth $262.52 million, making up 3.78% of all outstanding shares. On the other hand, GROWTH FUND OF AMERICA held roughly 4.0 shares worth around $236.16 million, which represents about 3.40% of the total shares outstanding.
