ALB
NYSE
Chemicals
$133.70
USD
-$7.35 (-5.21%)
Last close
Market Cap:
$16.19B
Volume:
4.3M
Previous Close
$141.05
Day Range
$132.33 - $137.67
52 Week Range
$58.85 - $221.00
Average Volume (10 Days)
2.6M
P/E Ratio
0.00
Dividend Yield
2.21%
Albemarle Corp. engages in the development, manufacture, and marketing of chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, transportation, pharmaceuticals, crop production, food-safety, and custom chemistry services. The company is headquartered in Charlotte, North Carolina and currently employs 7,800 full-time employees. The Company’s segments include Energy Storage, Specialties, and Ketjen. The firm's Energy Storage segment develops and manufactures a range of basic lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride. Its Specialties segment optimizes its portfolio of bromine and highly specialized lithium solutions. Its Specialties segment serves a variety of industries, including energy, mobility, connectivity, and health. Specialty products are essential in both internal combustion and electric vehicles, from high-voltage cables and powertrains to airbags and tires. Its lithium specialties business also provides technical services, including the handling and use of reactive lithium products. Its Ketjen segment includes performance catalyst solutions and a 49% ownership interest in a refining solutions joint venture.
CEO
Mr. Jerry Masters
Headquaters
Charlotte, NORTH CAROLINA, US
Founded
1994
Employees
7,800
Lithium producers are seeing a sharp recovery in earnings and prices, driven by robust demand from electric vehicles and energy storage systems, alongside supply disruptions from production cuts in China. Major players like Albemarle and Rio Tinto are ramping up production capacity and benefiting from improved market conditions after last year's price lows.
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Albemarle's stock declined following new developments pointing to increasing lithium supply. Western Australia extended financial support to lithium producers including a joint venture involving Albemarle, while expansion activity accelerated in Brazil's emerging lithium district. These supply-side developments come as the market continues working through a prolonged oversupply situation.
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