Raymond James Financial Services Advisors Inc. Buys 8,710 Shares of Livent Co. (NYSE:LTHM)

Raymond James Financial Services Advisors Inc. raised its stake in Livent Co. (NYSE:LTHM – Get Rating) by 8.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,508 shares of the company’s stock after purchasing an additional 8,710 shares during the period. Raymond James Financial Services Advisors Inc. owned approximately 0.06% of Livent worth $2,295,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Almanack Investment Partners LLC. bought a new position in shares of Livent during the 3rd quarter worth about $35,000. Paragon Wealth Strategies LLC lifted its holdings in shares of Livent by 100.0% during the 4th quarter. Paragon Wealth Strategies LLC now owns 2,000 shares of the company’s stock worth $40,000 after acquiring an additional 1,000 shares during the period. MUFG Americas Holdings Corp bought a new position in shares of Livent during the 3rd quarter worth about $46,000. Canada Pension Plan Investment Board bought a new position in shares of Livent during the 3rd quarter worth about $61,000. Finally, Cowa LLC bought a new position in shares of Livent during the 3rd quarter worth about $70,000. 90.62% of the stock is owned by institutional investors.

Livent Stock Up 1.2 %

Shares of NYSE LTHM opened at $24.56 on Wednesday. Livent Co. has a 12 month low of $18.26 and a 12 month high of $36.38. The company has a current ratio of 4.23, a quick ratio of 2.83 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 0.41 and a beta of 1.81. The business has a 50-day moving average of $22.14 and a 200-day moving average of $23.74.

Livent (NYSE:LTHM – Get Rating) last released its quarterly earnings data on Tuesday, May 2nd. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.21. The firm had revenue of $235.50 million during the quarter, compared to analyst estimates of $229.94 million. Livent had a return on equity of 26.15% and a net margin of 36.30%. The business’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 earnings per share. Sell-side analysts expect that Livent Co. will post 2.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LTHM shares. Scotiabank reiterated a “sector perform” rating on shares of Livent in a research report on Wednesday, February 15th. Citigroup lifted their price target on shares of Livent from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, February 16th. Bank of America raised shares of Livent from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $29.00 to $27.00 in a research note on Wednesday, April 5th. CICC Research upgraded shares of Livent from a “market perform” rating to an “outperform” rating in a report on Thursday, May 4th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Livent from $23.00 to $25.00 and gave the company a “hold” rating in a report on Thursday, April 20th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.43.

Livent Profile

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Livent Corp. engages in the production of performance lithium compounds. Its products include battery-grade lithium hydroxide, butyllithium, and purity lithium metal which are used in various performance applications. It operates through the following geographical segments: North America, Europe, Middle East, and Africa, Latin America, and Asia Pacific.