NEW YORK ( TheStreet) -- Albemarle Corporation (NYSE: ALB) hit a new 52-week high Wednesday as it is currently trading at $65.90, above its previous 52-week high of $60.99 with 382,720 shares traded as of 9:36 a.m. ET. Average volume has been 903,600 shares over the past 30 days.

Albemarle has a market cap of $5.2 billion and is part of the basic materials sector and chemicals industry. Shares are up 3.7% year to date as of the close of trading on Tuesday.

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals in the United States and internationally. The company has a P/E ratio of 16.2, equal to the average chemicals industry P/E ratio and equal to the S&P 500 P/E ratio of 16.3.
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TheStreet Ratings rates Albemarle as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. 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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