Higher EV adoption should drive strong lithium growth for narrow-moat Albemarle.
Albemarle has announced that it is selling roughly half of its performance catalyst business to W.R. Grace for $416 million in an all-cash transaction that values the business at a 12.8 times EBITDA multiple. We think the divestiture is a good deal for shareholders, and as a result, we slightly increase our fair value estimate to $133 per share from $130. Our narrow moat rating is unchanged.Albemarle secured an attractive price for the business, roughly 12.8 times EBITDA. We would value the p...
Albemarle is a global developer, manufacturer and marketer of chemicals across a range of end markets including energy storage, petroleum refining, consumer electronics, construction, automotive, lubricants, pharmaceuticals, crop protection and custom chemistry services. The company's segments include: Lithium, which develops and manufactures a range of basic lithium compounds and lithium specialties and reagents; Bromine Specialties, which includes products used in fire safety solutions and other chemicals applications; and Catalysts, which includes Clean Fuels Technologies, fluidized catalytic cracking catalysts and additives, and performance catalyst solutions.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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