Zurcher Kantonalbank Zurich Cantonalbank Buys 3,721 Shares of Livent Co. (NYSE:LTHM)

Posted by on Apr 25th, 2023

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Livent Co. (NYSE:LTHM – Get Rating) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,505 shares of the company’s stock after acquiring an additional 3,721 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Livent were worth $1,143,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Janney Montgomery Scott LLC grew its stake in shares of Livent by 32.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 48,175 shares of the company’s stock valued at $957,000 after acquiring an additional 11,845 shares during the period. Great Valley Advisor Group Inc. lifted its holdings in Livent by 14.6% in the 4th quarter. Great Valley Advisor Group Inc. now owns 54,469 shares of the company’s stock worth $1,082,000 after purchasing an additional 6,948 shares in the last quarter. Summit Global Investments lifted its holdings in Livent by 7.6% in the 4th quarter. Summit Global Investments now owns 21,200 shares of the company’s stock worth $421,000 after purchasing an additional 1,500 shares in the last quarter. Versor Investments LP purchased a new position in Livent in the 4th quarter worth approximately $274,000. Finally, Paragon Wealth Strategies LLC lifted its holdings in Livent by 100.0% in the 4th quarter. Paragon Wealth Strategies LLC now owns 2,000 shares of the company’s stock worth $40,000 after purchasing an additional 1,000 shares in the last quarter. 90.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LTHM has been the topic of a number of research analyst reports. Bank of America raised Livent from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $29.00 to $27.00 in a report on Wednesday, April 5th. Scotiabank reissued a “sector perform” rating on shares of Livent in a report on Wednesday, February 15th. Citigroup boosted their price target on Livent from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, February 16th. Mizuho upped their price objective on Livent from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, February 16th. Finally, Vertical Research raised Livent from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Wednesday, January 4th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Livent has a consensus rating of “Moderate Buy” and a consensus price target of $29.85.

Livent Stock Performance

NYSE LTHM opened at $21.91 on Tuesday. The company has a market cap of $3.94 billion, a P/E ratio of 16.23, a P/E/G ratio of 0.34 and a beta of 1.81. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.63 and a current ratio of 3.66. The business’s 50 day moving average price is $22.14 and its 200-day moving average price is $24.62. Livent Co. has a fifty-two week low of $18.26 and a fifty-two week high of $36.38.

Livent (NYSE:LTHM – Get Rating) last released its earnings results on Tuesday, February 14th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. The firm had revenue of $219.40 million for the quarter, compared to the consensus estimate of $239.28 million. Livent had a return on equity of 22.94% and a net margin of 33.63%. The company’s revenue for the quarter was up 78.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. Sell-side analysts predict that Livent Co. will post 1.83 earnings per share for the current year.

About Livent

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Livent Corp. engages in the production of performance lithium compounds. Its products include battery-grade lithium hydroxide, butyllithium, and purity lithium metal which are used in various performance applications. It operates through the following geographical segments: North America, Europe, Middle East, and Africa, Latin America, and Asia Pacific.

Further Reading

Institutional Ownership by Quarter for Livent (NYSE:LTHM)

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