DnB Asset Management AS Sells 9,066 Shares of Livent Co. (NYSE:LTHM)

DnB Asset Management AS cut its holdings in Livent Co. (NYSE:LTHM) by 0.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,457,932 shares of the company’s stock after selling 9,066 shares during the period. DnB Asset Management AS owned approximately 0.81% of Livent worth $39,991,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Williams Jones Wealth Management LLC. increased its holdings in shares of Livent by 1.1% during the first quarter. Williams Jones Wealth Management LLC. now owns 41,584 shares of the company’s stock worth $903,000 after purchasing an additional 454 shares during the period. Great West Life Assurance Co. Can increased its stake in Livent by 0.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 139,532 shares of the company’s stock worth $3,734,000 after acquiring an additional 529 shares during the period. Resources Management Corp CT ADV bought a new position in Livent during the 1st quarter worth $101,000. Exchange Traded Concepts LLC raised its holdings in Livent by 22.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 4,046 shares of the company’s stock valued at $88,000 after acquiring an additional 744 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Livent by 2.5% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 31,211 shares of the company’s stock valued at $678,000 after acquiring an additional 761 shares during the period. 96.76% of the stock is owned by institutional investors.

Livent Price Performance

LTHM stock traded up $0.43 during trading on Thursday, reaching $20.14. 757,803 shares of the company were exchanged, compared to its average volume of 3,011,694. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 0.28 and a beta of 1.83. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.76 and a quick ratio of 2.37. The company has a 50-day moving average of $23.71 and a two-hundred day moving average of $23.57. Livent Co. has a twelve month low of $18.26 and a twelve month high of $35.81.

Livent (NYSE:LTHM) last posted its earnings results on Thursday, August 3rd. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. Livent had a net margin of 38.85% and a return on equity of 26.79%. The firm had revenue of $235.80 million for the quarter, compared to analysts’ expectations of $257.00 million. As a group, equities analysts predict that Livent Co. will post 2.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

LTHM has been the subject of a number of analyst reports. HSBC dropped their price target on Livent from $37.00 to $33.50 in a research note on Friday, June 23rd. KeyCorp dropped their target price on shares of Livent from $35.00 to $34.00 and set an “overweight” rating for the company 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 for the company in a report on Friday, September 1st. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.95.

Livent Profile

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.