Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Livent Co. (NYSE:LTHM – Free Report) by 6.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 203,114 shares of the company’s stock after buying an additional 13,188 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Livent were worth $5,571,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the business. Williams Jones Wealth Management LLC. grew 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 last quarter. Credit Agricole S A grew its holdings in shares of Livent by 25.1% during the second quarter. Credit Agricole S A now owns 2,329 shares of the company’s stock worth $64,000 after purchasing an additional 467 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Livent by 1.3% during the second quarter. Oppenheimer & Co. Inc. now owns 37,275 shares of the company’s stock worth $1,022,000 after purchasing an additional 485 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Livent by 0.4% during the first quarter. Great West Life Assurance Co. Can now owns 139,532 shares of the company’s stock worth $3,734,000 after purchasing an additional 529 shares during the last quarter. Finally, Resources Management Corp CT ADV purchased a new position in shares of Livent during the first quarter worth about $101,000. Hedge funds and other institutional investors own 96.76% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on LTHM. Deutsche Bank Aktiengesellschaft raised Livent from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $27.00 to $21.00 in a report on Wednesday, October 25th. BMO Capital Markets lowered their price target on Livent from $24.00 to $20.00 and set a “market perform” rating on the stock in a report on Wednesday, November 1st. TheStreet lowered Livent from a “b-” rating to a “c+” rating in a report on Thursday, November 9th. Piper Sandler lowered Livent from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $33.00 to $19.00 in a report on Wednesday, October 25th. Finally, KeyCorp lowered their price target on Livent from $32.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday, November 1st. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $27.14.
Livent Price Performance
LTHM stock opened at $14.52 on Thursday. The firm has a 50 day moving average of $16.94 and a 200-day moving average of $21.99. Livent Co. has a 12-month low of $12.76 and a 12-month high of $29.92. The company has a current ratio of 3.46, a quick ratio of 1.99 and a debt-to-equity ratio of 0.14. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 8.11, a PEG ratio of 0.33 and a beta of 1.88.
Livent (NYSE:LTHM – Get Free Report) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.02). Livent had a return on equity of 25.60% and a net margin of 40.77%. The company had revenue of $211.40 million for the quarter, compared to analyst estimates of $264.41 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. As a group, equities analysts expect that Livent Co. will post 1.94 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CEO Paul W. Graves sold 59,244 shares of Livent stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $16.90, for a total transaction of $1,001,223.60. Following the completion of the transaction, the chief executive officer now directly owns 336,418 shares in the company, valued at approximately $5,685,464.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.17% of the company’s stock.
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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