ALB Stock Summary and Trading Ideas (Albemarle | NYSE:ALB)

Albemarle is the world's largest lithium producer. Our outlook for robust lithium demand is predicated upon increased demand for electric vehicle batteries. Albemarle produces lithium from its salt brine deposits in Chile and the U.S. and its hard rock joint venture mines in Australia. Albemarle is also a global leader in the production of bromine, used in flame retardants. The company is also a major producer of oil refining catalysts.

Albemarle trades on the NYSE stock market under the symbol ALB.

As of October 2, 2023, ALB stock price declined to $162.73 with 911,556 million shares trading.

ALB has a beta of 2.04, meaning it tends to be more sensitive to market movements. ALB has a correlation of 0.40 to the broad based SPY ETF.

ALB has a market cap of $19.09 billion. This is considered a Large Cap stock.

Last quarter Albemarle reported $2 billion in Revenue and $7.33 earnings per share. This fell short of revenue expectation by $-60 million and exceeded earnings estimates by $2.89.

In the last 3 years, ALB stock traded as high as $334.55 and as low as $84.57.

The top ETF exchange traded funds that ALB belongs to (by Net Assets): VTI, VOO, VO, SPY, LIT.

ALB has underperformed the market in the last year with a price return of -38.1% while the SPY ETF gained +19.1%. ALB has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -25.5% and -11.5%, respectively, while the SPY returned -2.5% and -4.0%, respectively.

ALB support price is $165.87 and resistance is $174.21 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ALB stock will trade within this expected range on the day.