5 Stocks to Sell Now According to Javier Velazquez’s Albar Capital

2. Albemarle Corporation (NYSE:ALB)

Albar Capital’s Stake Value in Q1 2022: $15 million

Percentage of Albar Capital’s 13F Portfolio In Q1 2022: 6.3%

Number of Hedge Fund Holders: 39

Albemarle Corporation (NYSE:ALB) is an engineered specialty chemicals company that is one of the oldest of its kind as it was set up in 1887. The firm is headquartered in Charlotte, North Carolina and it sells chemicals such as lithium hydroxide, elastomers, and greases.

Albemarle Corporation (NYSE:ALB) is benefiting from the current upward trend in lithium prices, and the firm expects to grow its production by 20% by the end of this year. Citi raised its share price target to $345 from $294 in September 2022, as it highlighted that the firm has restructured its contracts to variable pricing and that the demand for lithium continues to remain strong.

Mr. Velazquez’s hedge fund owned a $15 million stake in Albemarle Corporation (NYSE:ALB) as part of its investments for this year’s first quarter. However, the firm sold this stake and exited the position in Q2. During the same time period, Insider Monkey studied 895 hedge fund portfolios to find out that 39 had held a stake in the company.

Albemarle Corporation (NYSE:ALB)’s largest investor is Paul Marshall and Ian Wace’s Marshall Wace LLP which owns 739,388 shares that are worth $154 million.