5 Best Battery Stocks To Buy Before They Take Off

3. Albemarle Corporation (NYSE:ALB)

YTD Returns: -18.65%

Number of Hedge Fund Holders: 41

In total, 41 hedge funds were long Albemarle Corporation (NYSE:ALB) in the second quarter. Their total stake value was $436.5 million.

Albemarle Corporation (NYSE:ALB) is a materials company based in Charlotte, North Carolina. It offers lithium compounds which are used in lithium batteries for consumer electronics and electric vehicles, among more.

On September 8, Stephen Richardson at Evercore ISI maintained an Outperform rating and a $280 price target on Albemarle Corporation (NYSE:ALB).

Here’s what Aristotle Capital Boston, LLC said about Albemarle Corporation (NYSE:ALB) in its second-quarter 2023 investor letter:

“Albemarle Corporation (NYSE:ALB), the world’s largest lithium producer was sold from the portfolio amidst the announcement from Chile’s president that he would nationalize the country’s lithium industry and in time transfer control from SQM and Albemarle to a separate state-owned company effectively changing long-term risk/reward ratio of the stock, in our view.”

Follow Albemarle Corp (NYSE:ALB)