The Attractiveness of Investing In Albemarle Corporation (ALB) is Growing


In a filing, Albemarle Corporation revealed its EVP & CFO Tozier Scott unloaded Company’s shares for reported $1.43 million on Mar 03. In the deal valued at $251.40 per share,5,700 shares were sold. As a result of this transaction, Tozier Scott now holds 69,503 shares worth roughly $ 15.5 million.

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Then, Tozier Scott sold 417 shares, generating $106,539 in total proceeds. Upon selling the shares at $255.49, the EVP & CFO now owns 75,203 shares.

Before that, Tozier Scott sold 1,719 shares. Albemarle Corporation shares valued at $378,180 were divested by the EVP & CFO at a price of $220.00 per share. As a result of the transaction, Tozier Scott now holds 63,384 shares, worth roughly $14.13 million.

Credit Suisse reiterated its Albemarle Corporation [ALB] rating to an Underperform in a research note published on Monday, January 31, 2023; the price target was $240. PT values the company’s stock at a premium of 7.09 to its Monday closing price. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who began to cover the stock in late January with a ‘”an Overweight”‘ rating. Vertical Research also remained covering ALB and has increased its forecast on January 04, 2023 with a “Buy” recommendation from previously “Hold” rating. Berenberg revised its rating on October 13, 2022. It rated ALB as “a Hold” which previously was an “a Buy”.

Price Performance Review of ALB

On Monday, Albemarle Corporation [NYSE:ALB] saw its stock fall -0.95% to $222.99. On the same session, the stock had its day’s lowest price of $215.82, but rose to a high of $230.06. Over the last five days, the stock has lost -13.20%. Albemarle Corporation shares have risen nearly 2.83% since the year began. Nevertheless, the stocks have risen 18.38% over the past one year. While a 52-week high of $334.55 was reached on 02/16/23, a 52-week low of $172.78 was recorded on 01/03/23. SMA at 50 days reached $253.15, while 200 days put it at $255.61. A total of 1.84 million shares were traded, compared to the trading of 1.71 million shares in the previous session.

Levels Of Support And Resistance For ALB Stock

The 24-hour chart illustrates a support level at 215.85, which if violated will result in even more drops to 208.72. On the upside, there is a resistance level at 230.09. A further resistance level may holdings at 237.20. The Relative Strength Index (RSI) on the 14-day chart is 33.44, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -19.38, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 84.88%. Stochastics %K at 6.47% indicates the stock is a buying.

How much short interest is there in Albemarle Corporation?

A steep rise in short interest was recorded in Albemarle Corporation stocks on Jan 30, 2023, growing by 0.58 million shares to a total of 3.98 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 3.4 million shares. There was a rise of 14.57%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.85% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.63.

Albemarle Corporation [ALB] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 13,690,202 shares, or roughly 11.68% of the outstanding ALB shares. In other words, the investor’s shares have risen by 233,669 from its previous 13-F filing of 13456533.0. Additionally, Capital Research & Management Co increased 56.15% of its stake after which the total value it holdings stand at $1,946,926,408, while BlackRock Fund Advisors added 5.22% of its stake to hold $1.53 billion in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -3,315 shares of Albemarle Corporation, while Baillie Gifford & Co. sold -510,301 shares. At present, Capital Research & Management Co is holding 2,527,584 shares valued at $642.79 million. Fidelity Management & Research Co owned 2,431,328 shares of the company at the time of its most recent 13F filing, worth $618.31 million.

According to FactSet, Albemarle Corporation’s share price will average $315.56 in the next year, based on opinions of analysts polled by the firm. This is up nearly 44.36 percent from its previous closing price of $225.13. Analysts expect Albemarle Corporation stock to reach the higher price of $498.00, while the lowest price estimate is $155.00. However, 30 analysts have rated ALB stock as an Overweight in their predictions for 2023.


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