Albemarle appoints new member to board of directors
On June 26, 2017, Albemarle (ALB) announced it had elected Laurie Brlas to its board of directors, effective beginning June 23, 2017. She will also serve on the board’s audit and finance committee and its nominating and governance committee. At present, she also serves on the boards of Perrigo (PRGO) and Calpine (CPN). Brlas has served in leadership roles in Cliff’s Natural Resources (CLF) and Newmont Mining (NEM).
Luke Kissam, ALB’s chair, president, and CEO, said, “Laurie brings extensive operations, strategy and financial experience to our strong board of directors. We are excited to have Laurie join our team. She has over 20 years of experience as a leader in various industries including natural resources, which will serve Albemarle and our shareholders well.”
ALB’s stock movement last week
For the week ended June 30, 2017, ALB rose 0.7% and closed at $105.54. The stock outperformed the Lithium ETF (LIT), which fell 0.6% during the same period. LIT invests 6.6% of its portfolio in ALB as of June 30, 2017. ALB’s gain helped it to recover and trade above its 100-day moving average. ALB traded 0.25% above its 100-day moving average price of $105.28. On a year-to-date basis, the stock has returned 23.3%. ALB’s RSI (relative strength index) of 42 indicates that the stock is neither overbought nor oversold. Its 52-week low is $75.11, while its 52-week high is $116.64.
Analysts expect ALB’s 12-month target to be at $119.65, implying a potential return of 13.4% from the closing price of $105.54 as of June 30, 2017.