What Makes Albemarle Corporation (ALB) Stock Unique?

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the mid-cap stocks posted solid gains. On the other hand, its full-year returns were disappointing. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisors highlighted stocks like Albemarle Corporation (NYSE:ALB) in the Q4 2022 investor letter. Headquartered in Charlotte, North Carolina, Albemarle Corporation (NYSE:ALB) is a chemical company that operates through Lithium, Bromine, and Catalysts. On January 17, 2023, Albemarle Corporation (NYSE:ALB) stock closed at $243.07 per share. One-month return of Albemarle Corporation (NYSE:ALB) was 4.49%, and its shares gained 10.64% of their value over the last 52 weeks. Albemarle Corporation (NYSE:ALB) has a market capitalization of $28.476 billion.

Carillon Tower Advisors made the following comment about Albemarle Corporation (NYSE:ALB) in its Q4 2022 investor letter:

Albemarle Corporation (NYSE:ALB) is a global specialty chemicals company with leading positions in lithium, bromine, and refining catalysts. The stock gave back some of its recent gains amid investor concerns about how the future price of lithium could be affected by a potential decelerating rate of growth in overall electric vehicle (EV) production and demand, primarily in China. Despite these potential near-term headwinds, longer-term the global lithium market remains tight, and Albemarle plays a critical role in the battery value chain and remains well-positioned for the overall continued global adoption of EVs.”

Albemarle Corporation (NYSE:ALB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 49 hedge fund portfolios held Albemarle Corporation (NYSE:ALB) at the end of the third quarter, which was 39 in the previous quarter.

We discussed Albemarle Corporation (NYSE:ALB) in another article and shared the best autonomous vehicle stocks to invest In. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.