American Century Companies Inc. grew its holdings in Livent Co. (NYSE:LTHM – Free Report) by 1,487.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 721,596 shares of the company’s stock after acquiring an additional 676,134 shares during the quarter. American Century Companies Inc. owned about 0.40% of Livent worth $15,673,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in LTHM. Great West Life Assurance Co. Can raised its holdings in 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 in the last quarter. Resources Management Corp CT ADV purchased a new stake in Livent in the first quarter valued at $101,000. Exchange Traded Concepts LLC boosted its stake in Livent by 22.5% in the first 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. Vident Investment Advisory LLC grew its holdings in shares of Livent by 6.8% during the fourth quarter. Vident Investment Advisory LLC now owns 13,237 shares of the company’s stock worth $263,000 after purchasing an additional 844 shares during the last quarter. Finally, Private Advisor Group LLC increased its position in shares of Livent by 3.4% during the first quarter. Private Advisor Group LLC now owns 26,235 shares of the company’s stock worth $684,000 after purchasing an additional 856 shares in the last quarter. Institutional investors and hedge funds own 96.76% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on LTHM. B. Riley upgraded Livent from a “neutral” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Thursday, May 11th. HSBC cut their target price on shares of Livent from $37.00 to $33.50 in a report on Friday, June 23rd. Piper Sandler decreased their price target on shares of Livent from $38.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday. Finally, KeyCorp dropped their price objective on shares of Livent from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.95.
Livent Stock Performance
NYSE LTHM opened at $21.67 on Friday. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 0.28 and a beta of 1.81. The business’s 50 day moving average is $24.84 and its two-hundred day moving average is $23.82. 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 3.76, a quick ratio of 2.37 and a debt-to-equity ratio of 0.15.
Livent (NYSE:LTHM – Get Free Report) last announced its quarterly earnings data 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 return on equity of 26.79% and a net margin of 38.85%. The firm had revenue of $235.80 million for the quarter, compared to analyst estimates of $257.00 million. Research analysts expect that Livent Co. will post 2.15 EPS for the current 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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