5 Best Chemical Stocks To Buy Now

3. Albemarle Corporation (NYSE:ALB)

Number of Hedge Fund Holders: 39   

Albemarle Corporation (NYSE:ALB) develops, manufactures, and markets engineered specialty chemicals worldwide. The firm is among the best chemical stocks to invest in. On August 3, the firm posted earnings for the second quarter of 2022, reporting earnings per share of $3.45, beating estimates by $0.20. The revenue over the period was $1.4 billion, up over 91% compared to the revenue over the same period last year and roughly in line with analyst expectations. 

On September 09, Citi analyst PJ Juvekar maintained a Buy rating on Albemarle Corporation (NYSE:ALB) stock and raised the price target to $345 from $294, noting that the demand/supply balance was compact for lithium despite high prices. 

At the end of the second quarter of 2022, 39 hedge funds in the database of Insider Monkey held stakes worth $600 million in Albemarle Corporation (NYSE:ALB), compared to 44 the preceding quarter worth $454 million.

In its Q1 2021 investor letter, Carillion Tower Advisers, an asset management firm, highlighted a few stocks and Albemarle Corporation (NYSE:ALB) was one of them. Here is what the fund said:

“Albemarle Corporation (NYSE:ALB) is a global specialty chemicals company with leading positions in lithium, bromine, and refining catalysts. The firm’s shares outperformed in the quarter, driven largely by the current robust demand environment for lithium used in the manufacturing of electric vehicle batteries. As the global push towards the reduction of carbon emissions continues to gain steam, Albemarle is well positioned to benefit from the accelerating adoption of electric vehicles.”