5 Best Chemical Stocks To Invest In Now

4. Albemarle Corporation (NYSE:ALB)

Number of Hedge Fund Holders: 38    

Albemarle Corporation (NYSE:ALB) is among a rare breed of chemical firms that specialize in lithium products and have strong fundamentals. The demand for lithium has skyrocketed as manufacturing firms in the electric vehicle, smartphone, and other electronic sectors seek the metal for use in key elements of their product. Lithium prices have increased because of supply chain problems as well. Albemarle Corporation (NYSE:ALB) stock stands to benefit from these twin catalysts since the demand for lithium is expected to increase further in 2022 and supply chain problems are likely to persist. 

Berenberg analyst Andres Castanos-Mollor recently maintained a Buy rating on Albemarle Corporation (NYSE:ALB) stock and raised the price target to $290 from $280, underlining that the firm was achieving “solid execution” of new lithium capacity and the prices of the metal had even helped Albemarle Corporation (NYSE:ALB) deliver upgraded guidance for 2021. 

In its Q3 2021 investor letter, Carillon 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 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.”