Prelude Capital Management LLC acquired a new stake in shares of Livent Co. (NYSE:LTHM – Free Report) during the 1st quarter, Holdings Channel.com reports. The firm acquired 11,616 shares of the company’s stock, valued at approximately $252,000.
Other institutional investors have also modified their holdings of the company. Sheets Smith Wealth Management bought a new stake in Livent in the 1st quarter valued at $205,000. ProShare Advisors LLC lifted its stake in Livent by 13.7% in the 1st quarter. ProShare Advisors LLC now owns 29,648 shares of the company’s stock valued at $644,000 after acquiring an additional 3,561 shares in the last quarter. Putnam Investments LLC lifted its stake in Livent by 0.5% in the 1st quarter. Putnam Investments LLC now owns 180,710 shares of the company’s stock valued at $3,925,000 after acquiring an additional 931 shares in the last quarter. American Trust bought a new stake in Livent in the 1st quarter valued at approximately $231,000. Finally, HNP Capital LLC lifted its stake in Livent by 68.2% in the 1st quarter. HNP Capital LLC now owns 51,003 shares of the company’s stock valued at $1,108,000 after acquiring an additional 20,684 shares in the last quarter. Institutional investors own 96.76% of the company’s stock.
Livent Stock Down 0.9 %
Shares of LTHM stock opened at $20.00 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.37 and a current ratio of 3.76. The firm’s 50-day moving average is $23.26 and its 200-day moving average is $23.50. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 0.27 and a beta of 1.83. Livent Co. has a 52-week low of $18.26 and a 52-week high of $35.81.
Livent (NYSE:LTHM – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. Livent had a return on equity of 26.79% and a net margin of 38.85%. The business had revenue of $235.80 million for the quarter, compared to analysts’ expectations of $257.00 million. Sell-side analysts predict that Livent Co. will post 2.15 EPS for the current year.
Analyst Ratings Changes
LTHM has been the topic of several research reports. HSBC cut their target price on Livent from $37.00 to $33.50 in a research note on Friday, June 23rd. KeyCorp cut their price target on shares of Livent from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Friday, August 4th. Finally, Piper Sandler cut their price target on shares of Livent from $38.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, September 1st. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.95.
Livent Corporation manufactures and sells performance lithium compounds primarily used in lithium-based batteries, specialty polymers, and chemical synthesis applications in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers lithium compounds for use in applications that have specific performance requirements, including battery-grade lithium hydroxide for use in high performance lithium-ion batteries; and butyllithium, which is used in the production of polymers and pharmaceutical products, as well as a range of specialty lithium compounds, including high purity lithium metal, which is used in non-rechargeable batteries and the production of lightweight materials for aerospace applications.
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