NEW YORK ( TheStreet) -- Albemarle Corporation (NYSE: ALB) hit a new 52-week high Friday as it is currently trading at $69.90, above its previous 52-week high of $69.88 with 353,791 shares traded as of 11:50 a.m. ET. Average volume has been 957,000 shares over the past 30 days.

Albemarle has a market cap of $6.2 billion and is part of the basic materials sector and chemicals industry. Shares are up 23.2% year to date as of the close of trading on Thursday.

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals in the United States and internationally. The company has a P/E ratio of 17.4, above the average chemicals industry P/E ratio of 17.1 and above the S&P 500 P/E ratio of 17.
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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, robust revenue growth and largely solid financial position with reasonable debt levels by most measures. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Albemarle Ratings Report.

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