The stock of Albemarle Corp. (NYSE:ALB) last traded at $96.27, down -4.00% from the previous session.
ALB stock price is now -18.53% away from the 50-day moving average and -26.21% away from the 200-day moving average. The market capitalization of the company currently stands at $11.31B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target reduced from $150 to $135, Scotiabank Downgraded its rating from Sector Outperform to Sector Perform for Albemarle Corp. (NYSE: ALB). On April 11, 2024, Berenberg Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock increasing its target price from $130 to quote $160, while ‘BofA Securities’ rates the stock as ‘Buy’
In other news, Mummert Mark Richard, SVP, Capital Projects sold 843 shares of the company’s stock on May 14 ’24. The stock was sold for $114,250 at an average price of $135.53. Upon completion of the transaction, the SVP, Capital Projects now directly owns 6,802 shares in the company, valued at $0.65 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 13 ’24, VP, Controller & CAO Barichivich John Clarence III sold 1,475 shares of the business’s stock. A total of $194,951 was realized by selling the stock at an average price of $132.17. This leaves the insider owning 4,743 shares of the company worth $0.46 million. A total of 0.43% of the company’s stock is owned by insiders.
During the past 12 months, Albemarle Corp. has had a low of $92.29 and a high of $247.44. As of last week, the company has a debt-to-equity ratio of 0.32, a current ratio of 2.84, and a quick ratio of 1.91. According to the stock market information, the enterprise value for the company is $15428724736, which is based on a 35.05 price-to-earnings ratio, a 2.33 price-to-earnings-growth ratio, and a beta of 1.57. The fifty day moving average price for ALB is $117.8066 and a two-hundred day moving average price translates $130.01605 for the stock.
The latest earnings results from Albemarle Corp. (NYSE: ALB) was released for 2024-03-31. The net profit margin was 3.88% and return on equity was 3.25% for ALB. The company reported revenue of $1.36 billion for the quarter, compared to $2.58 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -47.26 percent.
