Carillon Tower Advisors, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” third quarter 2023 investor letter. A copy of it can be downloaded from here. In the third quarter, mid-cap stocks had negative returns, a contrast to their positive returns in the first half of the year. The Russell Midcap Growth Index was down 5.22%, slightly lagging the Russell Midcap Value Index, which was down 4.46%. Also, you can check the top 5 holdings of the fund to know its best picks in 2023.Thank you for reading this post, don't forget to subscribe!
Carillon Eagle Mid Cap Growth Fund highlighted stocks like Albemarle Corporation (NYSE:ALB) in its third quarter 2023 investor letter. Headquartered in Charlotte, North Carolina, Albemarle Corporation (NYSE:ALB) develops and markets engineered specialty chemicals. On October 26, 2023, Albemarle Corporation (NYSE:ALB) stock closed at $135.21 per share. Albemarle Corporation (NYSE:ALB)’s one-month return was -20.48%, and its shares lost 51.74% of their value over the last 52 weeks. Albemarle Corporation (NYSE:ALB) has a market capitalization of $15.866 billion.
Carillon Eagle Mid Cap Growth Fund made the following comments about Albemarle Corporation (NYSE:ALB) in its Q3 2023 investor letter:
,Albemarle Corporation (NYSE:ALB) is a global specialty chemicals company with leadership positions in lithium, bromine and refining catalysts. The stock’s poor performance in the quarter was mainly due to a decline in lithium spot market prices in China. Despite these near-term headwinds, the global lithium market remains tight in the long term. “Albemarle plays a critical role in the electric vehicle (EV) battery value chain and is well-positioned to drive overall increasing global adoption of EVs.”
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Albemarle Corporation (NYSE:ALB) isn’t on our list of the 30 most popular stocks among hedge funds. According to our database, Albemarle Corporation (NYSE:ALB) was in 41 hedge fund portfolios at the end of the second quarter, up from 41 the previous quarter.
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We discussed Albemarle Corporation (NYSE:ALB) in another article and shared a list of the best battery stocks to buy in 2024. Additionally, please visit our Hedge Fund Investor Letters Q3 2023 page for more letters from hedge funds and other leading investors. Investor.
Disclosure: None. This article was originally published on Insider Monkey.