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Albemarle Corporation (ALB) develops, manufactures, and markets engineered specialty chemicals worldwide.
The company offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties and reagents for applications in lithium batteries, high performance greases, thermoplastic elastomers for car tires, rubber soles and plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets; cesium products for the chemical and pharmaceutical industries; and zirconium, barium, and titanium products for pyrotechnical applications.
It also manufactures cesium products for the chemical and pharmaceutical industries; and zirconium, barium, and titanium products for various pyrotechnical applications, including airbag igniters; and performance catalyst solutions, such as polymer catalysts, curatives, organometallics, and electronic materials for polyolefin polymers, packaging, non-packaging, films, injection molding, alpha-olefins, electronic materials, solar cells, polyurethanes, epoxies, and other engineered resins markets.
In addition, the company offers bromine and bromine-based solutions for fire safety, chemical synthesis, mercury control, water purification, beef and poultry processing, and various other industrial applications, as well as for the oil and gas well drilling, and completion fluids applications.
Further, Albemarle Corporation provides clean fuels technologies, which is primarily composed of hydroprocessing catalysts; and heavy oil upgrading, which is primarily composed of fluidized catalytic cracking catalysts and additives for application in the refining industry.
It serves petroleum refining, consumer electronics, energy storage, construction, automotive, lubricants, pharmaceuticals, crop protection, food safety, and custom chemistry services markets.
The Company recorded profit of $103.3 million or 92 cents per share for the second quarter of 2017 compared with a loss of $314.8 million or $2.78 a year ago. Excluding one-time items, adjusted earnings for the reported quarter were $1.13 per share, topping estimates of $1.11. Shares sold off following the earnings and now are heading higher in an upward trading channel. The formation is supported by the stock's 50-day moving average.
Higher share prices are expected for this stock.
52-Weeks Trading Range: $75.11 - $123.48
Entry Point: $111.00
Stop Loss: $105.40
Target Price: $122.10
ALB closed at $123.00
