NEW YORK ( TheStreet) -- Albemarle Corporation (NYSE: ALB) hit a new 52-week high Tuesday as it is currently trading at $71.20, above its previous 52-week high of $71.18 with 671,306 shares traded as of 3:15 p.m. ET. Average volume has been 969,900 shares over the past 30 days.

Albemarle has a market cap of $6.3 billion and is part of the basic materials sector and chemicals industry. Shares are up 24.2% year to date as of the previous trading day's close.

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, equal to the average chemicals industry P/E ratio and above the S&P 500 P/E ratio of 16.2.
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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 no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Albemarle Ratings Report.

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