NEW YORK (

TheStreet

) --

Albemarle Corporation

(NYSE:

ALB

) hit a new 52-week high Thursday as it traded at $60.86 compared with its previous 52-Week high of $60.70. Albemarle is changing hands at $60.84 with 26,171 shares traded as of 9:46 a.m. ET. Average volume has been 941,000 shares over the past 30 days.

Albemarle has a market cap of $5.5 billion and is part of the

basic materials

sector and

chemicals

industry. Shares are up 8.1% year to date as of the close of trading on Wednesday.

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals in the United States and internationally. The company has a P/E ratio of 17.1, equal to the average chemicals industry P/E ratio and above the S&P 500 P/E ratio of 16.8.

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TheStreet Ratings rates Albemarle as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full

Albemarle Ratings Report

.

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