Truist Financial Corp boosted its holdings in shares of Livent Co. (NYSE:LTHM – Get Rating) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,136 shares of the company’s stock after purchasing an additional 1,038 shares during the quarter. Truist Financial Corp’s holdings in Livent were worth $1,874,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Lindbrook Capital LLC raised its stake in shares of Livent by 2,902.7% in the second quarter. Lindbrook Capital LLC now owns 1,111 shares of the company’s stock valued at $25,000 after acquiring an additional 1,074 shares during the period. Wipfli Financial Advisors LLC purchased a new stake in shares of Livent in the third quarter valued at $37,000. Credit Agricole S A purchased a new stake in shares of Livent in the second quarter valued at $29,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Livent in the second quarter valued at $30,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Livent in the first quarter worth about $70,000. Hedge funds and other institutional investors own 90.62% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the stock. B. Riley upped their price target on shares of Livent from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, October 27th. Citigroup cut their price target on shares of Livent from $31.00 to $27.00 in a report on Thursday, December 15th. Piper Sandler cut their price target on shares of Livent from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, December 15th. Bank of America upgraded shares of Livent from an “underperform” rating to a “buy” rating and cut their price target for the stock from $27.00 to $26.00 in a report on Wednesday, January 11th. Finally, Mizuho cut their price target on shares of Livent from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, January 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.78.
Livent Stock Up 0.3 %
Livent (NYSE:LTHM – Get Rating) last released its quarterly earnings results on Tuesday, November 1st. The company reported $0.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.41. Livent had a net margin of 27.67% and a return on equity of 20.00%. The business had revenue of $231.60 million for the quarter, compared to analysts’ expectations of $248.19 million. On average, equities analysts anticipate that Livent Co. will post 1.36 earnings per share for the current fiscal year.
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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