Albemarle Corp Stock Price, News & Analysis

Albemarle Corporation (NYSE: ALB) has declared a quarterly dividend of $0.39 per share, with an annualized rate of $1.56. This dividend is scheduled for payment on January 3, 2022, to shareholders on record as of December 17, 2021. Albemarle specializes in chemicals, focusing on lithium, bromine, and catalysts, aiming for sustainable growth across key industries like energy and transportation.

On October 22, 2021, Albemarle Corporation (NYSE: ALB) announced strategic investments in China to enhance its lithium conversion capacity. The company has signed agreements with the Yangtze River International Chemical Industrial Park and the Pengshan Economic Development Park, aiming to construct lithium hydroxide conversion plants with a targeted capacity of 50,000 metric tons annually at each site. Construction is expected to commence in 2022 and conclude by the end of 2024, supporting Albemarle's commitment to customer growth and sustainability.

Albemarle Corporation (NYSE: ALB) has released its inaugural Community Impact Report through the Albemarle Foundation, highlighting its philanthropic initiatives in 2020. The Foundation, established in 2007, aims to make a sustainable difference in local communities, distributing over $5.6 million in grants in 2020 and more than $46 million since its inception. The report showcases the commitment of employees and partners to the Foundation's mission, supporting education, health, and cultural initiatives.

Albemarle Corporation (NYSE: ALB) announced the acquisition of Guangxi Tianyuan New Energy Materials Co., Ltd. for approximately $200 million. This acquisition is part of Albemarle's strategy to enhance lithium production capabilities, responding to the growing demand in the clean energy sector. Tianyuan operates a newly constructed lithium processing plant in Guangxi, China, aimed to commence commercial production in early 2022 with a capacity of 25,000 metric tons LCE. The acquisition aligns with Albemarle's goal to improve conversion capacity in a capital-efficient manner.

Albemarle Corporation (NYSE: ALB) announced it will release its third-quarter 2021 earnings on November 3, 2021, after NYSE closure. A conference call to discuss the results will be held on November 4, 2021, at 9:00 a.m. ET. This call will provide insights into the company’s financial performance and future outlook. Interested parties can access the call via Albemarle's website or by phone. The company operates in the specialty chemicals sector, focusing on lithium, bromine, and refining catalysts, and aims for sustainable practices in its operations.

On September 10, 2021, Albemarle Corporation (NYSE: ALB) hosted its 2021 Investor Day, presenting its long-term strategy for growth. CEO Kent Masters highlighted the company's commitment to electrification and sustainability, emphasizing the new operating model, the Albemarle Way of Excellence. Key topics included plans to increase lithium conversion capacity, expand the Catalysts business in emerging markets, and enhance bromine production. The company reaffirmed its 2021 financial guidance and projected a 25%-35% increase in adjusted EBITDA for 2022, alongside ambitious long-term financial targets.

Albemarle Corporation (NYSE: ALB) has initiated a third-party assessment using the Initiative for Responsible Mining Assurance's (IRMA) Standard for Responsible Mining at its lithium brine extraction site in Northern Chile. This makes Albemarle the first global lithium producer to undergo such rigorous auditing. The assessment, conducted by ERM Certification and Verification Services, will evaluate 26 areas, including water management and human rights. Albemarle also commits to reducing freshwater use intensity by 25% by 2030 in high-risk areas, and it shares 3.5% of revenues with local indigenous communities.

Albemarle Corporation (NYSE: ALB) reported Q2 2021 net income of $424.6 million, or $3.62 per diluted share, including a gain from the sale of its Fine Chemistry Services business. Adjusted diluted EPS rose 4% to $0.89, with net sales increasing 1% to $773.9 million, or 5% when excluding Fine Chemistry Services. The company revised its full-year 2021 outlook, anticipating improved lithium performance but facing higher bromine raw material costs. Albemarle completed the sale of Fine Chemistry Services for approximately $570 million on June 1, 2021, and is progressing with lithium projects to meet rising demand.

On July 20, 2021, Albemarle Corporation (NYSE: ALB) declared a quarterly dividend of $0.39 per share, amounting to an annualized rate of $1.56. The dividend is payable on October 1, 2021, to shareholders of record as of September 17, 2021. This reflects the company's commitment to return value to shareholders while maintaining sustainable growth in the specialty chemicals sector, which includes lithium, bromine, and catalysts.