Albemarle Corporation’s Stock Price Plummets to $103.98, Marking a -5.18% Downturn

Albemarle Corporation (ALB)

103.98 USD -5.68 (-5.18%) Volume: 1.52M

Albemarle Corporation’s stock price stands at 103.98 USD, witnessing a decline of -5.18% this trading session, with a trading volume of 1.52M. The stock has experienced a downturn YTD, with a percentage change of -27.46%, indicating a challenging market performance for ALB.

Latest developments on Albemarle Corporation

Recent stock price movements of Albemarle Corp (NYSE:ALB) have been influenced by various key events. Stifel Financial Corp and Nomura Asset Management Co. Ltd. both acquired shares in the company, while Roffman Miller Associates Inc. PA sold off their stake. Quantinno Capital Management LP increased their stake, and Kovitz Investment Group Partners LLC also raised their position in Albemarle Corp. Additionally, the CEO sold over $255,000 worth of stock. Verition Fund Management LLC bought nearly 12,000 shares. These transactions have played a significant role in shaping the current stock performance of Albemarle Corp.

Albemarle Corporation on Smartkarma

Analysts at Baptista Research have been closely monitoring Albemarle Corp‘s performance, particularly focusing on the company’s Q3 2024 earnings. The report highlights the strong execution demonstrated by Albemarle, with volumetric growth in its Energy Storage division and year-over-year EBITDA growth in its Specialties and Ketjen segments. The company’s liquidity and leverage metrics are also noted to be strong, with Albemarle maintaining leverage well below covenant limits and showing operating cash conversion of over 100%. Baptista Research aims to evaluate various factors that could impact the company’s stock price in the near future, conducting an independent valuation using a Discounted Cash Flow (DCF) methodology.

Furthermore, Baptista Research has identified seven key factors driving their ‘Buy’ rating for Albemarle Corp based on the company’s Q2 2024 earnings report. Despite operational successes, the report highlights challenges faced by Albemarle that reflect the broader industry landscape. The company reported a significant decrease in net sales to $1.4 billion from $2.4 billion the previous year, mainly attributed to decreased pricing. Albemarle also experienced a loss of $188 million, a stark contrast from prior profitability, resulting in a diluted loss per share of $1.96. These factors contribute to Baptista Research‘s positive outlook on Albemarle Corp‘s future prospects.

A look at Albemarle Corporation Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Albemarle Corp, a producer of specialty and fine chemicals, shows a promising long-term outlook based on its Smartkarma Smart Scores. With high scores in Value, Resilience, and Momentum, the company is positioned well for future growth and stability. Its strong value score indicates that Albemarle Corp is currently undervalued, offering potential for investors to benefit from future price appreciation. Additionally, the company’s high resilience score suggests that it has the ability to weather economic downturns and market volatility. Furthermore, Albemarle Corp‘s momentum score highlights its positive performance and upward trend in the market.

Despite scoring lower in Growth and Dividend, Albemarle Corp‘s overall outlook remains positive due to its strengths in other areas. The company’s focus on producing chemicals for various industries, such as plastics, cleaning products, pharmaceuticals, and biocides, positions it well for long-term success. With the majority of its products manufactured in the United States, Albemarle Corp benefits from a stable and established market. Investors looking for a company with strong value, resilience, and momentum should consider Albemarle Corp as a potential opportunity for growth in the future.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.

💡 Before it’s here, it’s on Smartkarma