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Albemarle Corporation (ALB) Is Now En Route to Higher Prices

Albemarle Corporation (NYSE: ALB) is 22.01% higher on its value in year-to-date trading and has touched a low of $169.93 and a high of $334.55 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ALB stock was last observed hovering at around $260.64 in the last trading session, with the day’s gains setting it 3.95% off its average median price target of $300.00 for the next 12 months. It is also 42.61% off the consensus price target high of $461.00 offered by 28 analysts, but current levels are -70.7% lower than the price target low of $155.00 for the same period.

Currently trading at $264.59, the stock is 15.07% and 3.87% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.74 million and changing 1.52% at the moment leaves the stock 6.88% off its SMA200. ALB registered 24.37% gain for a year compared to 6-month gain of 16.27%. The firm has a 50-day simple moving average (SMA 50) of $5.56 and a 200-day simple moving average (SMA200) of $15.95.

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The stock witnessed a 13.74% loss in the last 1 month and extending the period to 3 months gives it a -2.01%, and is 8.85% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.49% over the week and 3.74% over the month.

Albemarle Corporation (ALB) has around 6000 employees, a market worth around $29.83B and $5.59B in sales. Current P/E ratio is 20.06 and Fwd P/E is 9.42. Profit margin for the company is 27.80%. Distance from 52-week low is 55.71% and -20.91% from its 52-week high. The company has generated returns on investments over the last 12 months (9.50%).

Albemarle Corporation (ALB) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Albemarle Corporation (ALB) is a “Overweight”. 28 analysts offering their recommendations for the stock have an average rating of 2.30, where 10 rate it as a Hold and 3 think it is a “Overweight”. 13 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.

Albemarle Corporation is expected to release its quarterly report on 05/03/2023.The EPS is expected to shrink by -69.80% this year.

Albemarle Corporation (ALB) Top Institutional Holders

The shares outstanding are 117.14M, and float is at 116.97M with Short Float at 2.91%.

Albemarle Corporation (ALB) Insider Activity

A total of 48 insider transactions have happened at Albemarle Corporation (ALB) in the last six months, with sales accounting for 30 and purchases happening 18 times. The most recent transaction is an insider sale by Tozier Scott,the company’sEVP & CFO. SEC filings show that Tozier Scott sold 1,719 shares of the company’s common stock on Jan 06 at a price of $220.00 per share for a total of $0.38 million. Following the sale, the insider now owns 63384.0 shares.

Albemarle Corporation disclosed in a document filed with the SEC on Dec 01 that NARWOLD KAREN G (EVP, Chief Admin Officer) sold a total of 2,250 shares of the company’s common stock. The trade occurred on Dec 01 and was made at $280.25 per share for $0.63 million. Following the transaction, the insider now directly holds 6257.0 shares of the ALB stock.

Still, SEC filings show that on Nov 11, NARWOLD KAREN G (EVP, Chief Admin Officer) disposed off 9,072 shares at an average price of $322.26 for $2.92 million. The insider now directly holds 8,507 shares of Albemarle Corporation (ALB).

Albemarle Corporation (ALB): Who are the competitors?

The company’s main competitors (and peers) include Avantor Inc. (AVTR) that is trading -36.14% down over the past 12 months.

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