Albemarle Corporation (NYSE:ALB) Hits ‘Overbought’ According to the RSI

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Albemarle Corporation (NYSE:ALB) has reached overbought status with an RSI(14) at 80.47 .

The Relative Strength Index (RSI) is one of the most popular technical indicators used to assess the strength and weakness of momentum in stock movements. An RSI above 70 is an overbought indication with RSI’s under 30 indicating oversold. Overbought is a technical condition that occurs when price momentum is considered too high and susceptible to a decline.

Volatility

(NYSE:ALB) currently has a beta of 1.64 indicating it is higher in volatility than the market overall which by definition has a beta of 1. Stocks with a beta lower than the market are considered to be less risky and those with a higher beta may be more risky than the market.

The stock’s Average True Range (ATR) is 2.57. The ATR is a short term measure of volatility. It can’t tell you the direction of the stock but indicates how likely the price is to change.

The stock is trading at $136.14 significantly higher than $117.92, the stock’s 50 day moving average and which is significantly higher than the 200 day moving average of $111.37. The 50 day moving average was up by +15.45% and the 200 day average went up $24.77 or +22.25%.

Recent news headlines for Albemarle Corporation.

Albemarle Corporation to attend UBS Global Chemicals & Paper and Packaging Conference on September 6, 2017
New technology enables sustainable expansion of lithium production in Chile.

Short Interest

Investors are more bearish on Albemarle Corporation of late looking at the motion in short interest. The company had a rise in short interest of 11.46% as of the latest report on August 31, 2017. Short shares increased from 5,812,456 to 6,478,323 over that period. The short-interest ratio increased to 8.0 and the short interest percentage is 0.06% as of August 31.

Insider Activity

Here is a rundown on some insider market activity for Albemarle Corporation (NYSE:ALB). Karen G. Narwold, EVP disclosed the sale of 11,500 shares of ALB stock. The shares were sold on August 23rd for an average price of $115.95. The EVP now owns $2,912,664 of the stock per the Form 4 SEC filing.

Recent Analyst Ratings

On September 18 Nomura kept the company rating at “Buy” and moved up the price target to $146.00 from $67.00. Equity analyst Oppenheimer started coverage with a rating of “Outperform”.

On August 9 the company was downgraded to “Hold” from “Buy” in a statement from SunTrust Robinson Humphrey.

Albemarle Corporation declared a dividend for shareholders which was paid on Monday the 3rd of July 2017. The dividend was $0.320 per share for the quarter which is $1.28 annualized. The dividend yield was $1.01. The ex-dividend date was Thursday the 14th of September 2017.

The company’s P/E ratio is 17.41 and the market value is 15.04B. In the last earnings report the EPS was $7.82 and is expected to be $4.37 for the current year with 110,472,000 shares outstanding. Next quarter’s EPS is forecasted at $1.12 with next year’s EPS anticipated to be $5.01.

Company Information

Albemarle Corporation, launched on November 24, 1993, is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consists of two product categories: Lithium and Performance Catalyst Solutions. The bromine and bromine-based business includes products used in fire safety solutions and other specialty chemicals applications. The Company serves various end markets, including petroleum refining, consumer electronics, energy storage, construction, automotive, lubricants, pharmaceuticals, crop protection, food safety and custom chemistry services..