Red Spruce Capital LLC Has $415,000 Position in Livent Co. (NYSE:LTHM)

Red Spruce Capital LLC trimmed its position in Livent Co. (NYSE:LTHM) by 12.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,122 shares of the company’s stock after selling 2,180 shares during the quarter. Red Spruce Capital LLC’s holdings in Livent were worth $415,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Livent in the first quarter valued at about $31,000. Almanack Investment Partners LLC. bought a new stake in Livent in the 3rd quarter valued at about $35,000. BerganKDV Wealth Management LLC acquired a new position in shares of Livent during the 1st quarter worth approximately $38,000. Assetmark Inc. bought a new position in shares of Livent during the first quarter worth approximately $45,000. Finally, MUFG Americas Holdings Corp acquired a new stake in shares of Livent in the third quarter valued at approximately $46,000. Institutional investors own 96.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LTHM. Piper Sandler reduced their price target on Livent from $38.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, September 1st. KeyCorp dropped their price target on Livent from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Friday, August 4th. Finally, HSBC reduced their price objective on shares of Livent from $37.00 to $33.50 in a research note on Friday, June 23rd. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.95.

Livent Price Performance

Shares of LTHM stock traded up $0.44 on Thursday, reaching $20.15. The company had a trading volume of 590,029 shares, compared to its average volume of 3,010,703. The business’s 50-day moving average is $23.71 and its 200 day moving average is $23.57. Livent Co. has a one year low of $18.26 and a one year high of $35.81. The company has a quick ratio of 2.37, a current ratio of 3.76 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $3.62 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 0.28 and a beta of 1.83.

Livent (NYSE:LTHM) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. The business had revenue of $235.80 million during the quarter, compared to the consensus estimate of $257.00 million. Livent had a net margin of 38.85% and a return on equity of 26.79%. Equities research analysts forecast that Livent Co. will post 2.15 EPS for the current fiscal year.

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.