Among the S&P 500’s biggest fallers on Wednesday August 01 was Albemarle Corporation (ALB). The stock experienced a 3.39% decline to $91.01 with 1.76 million shares changing hands.
Albemarle Corporation started at an opening price of 94.00 and hit a high of $94.16 and a low of $90.09. Ultimately, the stock took a hit and finished the day at $3.19 per share. Albemarle Corporation trades an average of 1.51 million shares a day out of a total 110.76 million shares outstanding. The current moving averages are a 50-day SMA of $94.65 and a 200-day SMA of $110.16. Albemarle Corporation hit a high of $144.99 and a low of $86.75 over the last year.
Albemarle Corp is a developer, manufacturer and marketer of engineered specialty chemicals. It provides services to end markets including petroleum refining, consumer electronics, construction, automotive, lubricants and pharmaceuticals.
With its headquarters located in Charlotte, NC, Albemarle Corporation employs 5,400 people. After today’s trading, the company’s market cap has fallen to $10.08 billionAs for its value, has a P/E ratio of <77.2, a P/S of 4.29, a P/B of 2.65, and a P/FCF of 807.8.
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For all the attention paid to the Dow Jones Industrial Average (DJIA), it’s the S&P 500 that’s relied on by insiders and institutional investors. It represents the industry standard for American large-cap indices.
The Dow is made up of just 30 stocks to the S&P 500’s 500, and it uses an unreliable and outdated price-weighting system where the S&P 500 relies on market cap in weighting its returns. This is why its long-term returns is a much more reliable gauge for the performance of large- and mega-cap stocks over time.