Albemarle (ALB) has extended its good 2016 stock performance to 2017. From the beginning of 2017 through February 24, 2017, ALB has risen approximately 8.0%. It outperformed the broad-based SPDR S&P 500 ETF (SPY), which rose 5.9% for that same period.
Albemarle’s peers FMC (FMC) and W.R. Grace (GRA) underperformed ALB with returns of 2.8% and 5.0%, respectively. However, Sociedad Química y Minera de Chile (SQM) outperformed ALB with a return of 9.7%.
The rise in Albemarle stock in 2017 has been primarily driven by positive developments from the completion of its acquisition of Jiangxi Jiangli New Materials Science and Technology. ALB also redeemed 3.0% senior notes due in 2019, which will reduce its interest expense.
Moving average and relative strength index
On February 24, 2017, Albemarle stock closed at $92.93 and traded 5.9% above its 100-day moving average of $87.72, indicating an upward trend in the stock. ALB’s 52-week low is $56.03, and its 52-week high is $95.89.
A 14-day RSI (relative strength index) of 51 indicates that the stock is neither overbought nor oversold. An RSI of 70 and above indicates that a stock has moved temporarily into an overbought situation. An RSI of 30 and below indicates that a stock has moved temporarily into an oversold position.
In this series, we’ll be taking a look at Albemarle’s latest dividend increase, the latest analyst recommendations, and the most recent valuations. Let’s start with Albemarle’s 23rd consecutive dividend raise.