Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model
(
) pushed the Basic Materials sector lower today making it today's featured Basic Materials laggard. The sector as a whole closed the day up 0.9%. By the end of trading, Albemarle fell $2.49 (-4.1%) to $57.75 on heavy volume. Throughout the day, 2,144,464 shares of Albemarle exchanged hands as compared to its average daily volume of 733,300 shares. The stock ranged in price between $57.01-$58.99 after having opened the day at $58.50 as compared to the previous trading day's close of $60.24. Other companies within the Basic Materials sector that declined today were:
(
), down 20.8%,
(
), down 17.0%,
(
), down 16.2% and
Andatee China Marine Fuel Services Corporat
(
), down 14.8%.
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Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals. Albemarle has a market cap of $5.5 billion and is part of the chemicals industry. The company has a P/E ratio of 17.8, equal to the S&P 500 P/E ratio of 17.7. The company has a P/E ratio of 17.8, above the S&P 500 P/E ratio of 17.7. Shares are down 0.8% year to date as of the close of trading on Wednesday.
TheStreet Ratings rates Albemarle as a
. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
- You can view the full Albemarle Ratings Report.
On the positive front,
(
), down 23.5%,
Flexible Solutions International
(
), down 19.6%,
(
), down 16.5% and
(
), down 14.6% , were all gainers within the basic materials sector with
(
) being today's featured basic materials sector leader.
- Use our basic materials section to find sector-relevant news.
- Or find some new ideas from our top rated stocks lists.
For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the basic materials sector could consider
(
) while those bearish on the basic materials sector could consider
ProShares Short Basic Materials Fd
(
).
- Find other investment ideas from our top rated ETFs lists.
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