Envestnet Asset Management Inc. Acquires 8,596 Shares of Livent Co. (NYSE:LTHM)

Envestnet Asset Management Inc. lifted its position in Livent Co. (NYSE:LTHMGet Rating) by 12.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,755 shares of the company’s stock after purchasing an additional 8,596 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Livent were worth $1,742,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LTHM. Leeward Investments LLC MA purchased a new stake in Livent during the 1st quarter valued at about $49,491,000. BlackRock Inc. boosted its holdings in Livent by 3.2% during the 1st quarter. BlackRock Inc. now owns 25,674,467 shares of the company’s stock valued at $669,334,000 after acquiring an additional 797,187 shares during the period. Allianz Asset Management GmbH boosted its holdings in Livent by 35.7% during the 1st quarter. Allianz Asset Management GmbH now owns 2,799,333 shares of the company’s stock valued at $72,979,000 after acquiring an additional 736,174 shares during the period. National Bank of Canada FI lifted its holdings in Livent by 761.6% in the 1st quarter. National Bank of Canada FI now owns 631,311 shares of the company’s stock worth $16,250,000 after buying an additional 558,042 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Livent by 5.7% in the 1st quarter. Wellington Management Group LLP now owns 7,824,996 shares of the company’s stock worth $203,997,000 after buying an additional 421,082 shares during the period. 87.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on LTHM shares. Vertical Research cut Livent from a “buy” rating to a “hold” rating and increased their price objective for the stock from $33.00 to $35.00 in a report on Monday, September 12th. TheStreet raised Livent from a “c+” rating to a “b-” rating in a research report on Tuesday, August 9th. B. Riley increased their target price on Livent from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, October 27th. Piper Sandler reissued an “overweight” rating and issued a $42.00 target price on shares of Livent in a research report on Tuesday, September 20th. Finally, JPMorgan Chase & Co. assumed coverage on Livent in a research report on Monday, October 17th. They issued a “neutral” rating and a $28.00 target price for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.69.

Insiders Place Their Bets

In other Livent news, CFO Gilberto Antoniazzi sold 3,635 shares of Livent stock in a transaction on Monday, September 19th. The stock was sold at an average price of $32.54, for a total value of $118,282.90. Following the completion of the sale, the chief financial officer now owns 62,582 shares of the company’s stock, valued at approximately $2,036,418.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Livent news, CFO Gilberto Antoniazzi sold 3,635 shares of Livent stock in a transaction on Monday, September 19th. The stock was sold at an average price of $32.54, for a total value of $118,282.90. Following the completion of the sale, the chief financial officer now owns 62,582 shares of the company’s stock, valued at approximately $2,036,418.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Paul W. Graves sold 85,171 shares of Livent stock in a transaction on Friday, September 9th. The stock was sold at an average price of $35.00, for a total value of $2,980,985.00. Following the completion of the sale, the chief executive officer now directly owns 299,980 shares of the company’s stock, valued at approximately $10,499,300. The disclosure for this sale can be found here. Corporate insiders own 1.18% of the company’s stock.

Livent Stock Up 2.3 %

Livent stock opened at $28.77 on Friday. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 28.77 and a beta of 1.74. The stock has a fifty day simple moving average of $30.74 and a two-hundred day simple moving average of $28.11. Livent Co. has a 12 month low of $19.35 and a 12 month high of $36.38. The company has a current ratio of 3.52, a quick ratio of 2.65 and a debt-to-equity ratio of 0.18.

About Livent

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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.

Further Reading

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Institutional Ownership by Quarter for Livent (NYSE:LTHM)

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