Albemarle Corporation (ALB) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 4,598,528 to 4,070,795 shares, with 2 days to go before the expiry. The short open interest has decreased by -11.5%, amounting to a reduction of -527,733 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 3.6% of the float of the company. The average daily volume of the stock is 1,685,615 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Albemarle Corporation (NYSE:ALB): The stock opened at $83.84 on Wednesday but the bulls could not build on the opening and the stock topped out at $84.41 for the day. The stock traded down to $81.95 during the day, due to lack of any buying support eventually closed down at $82.19 with a loss of -2.35% for the day. The stock had closed at $84.17 on the previous day. The total traded volume was 1,566,057 shares.
In a related news,The director of Albemarle Corp, Sherman John Jr sold 4,300 shares at $82.11 on August 5, 2016. The Insider selling transaction had a total value worth of $353,073. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Albemarle Corporation (Albemarle) is a developer, manufacturer and marketer of specialty chemicals across a range of end markets, including the petroleum refining, consumer electronics, plastics/packaging, construction, automotive, lubricants, pharmaceuticals, crop protection, food-safety and custom chemistry services markets. The Company operates through two segments: Performance Chemicals and Catalyst Solutions. As of December 31, 2014, the Performance Chemicals segment includes the Fire Safety Solutions, Specialty Chemicals and Fine Chemistry Services product categories. As of December 31, 2014, the Catalyst Solutions segment includes the Refinery Catalyst Solutions and Performance Catalyst Solutions product categories.