Thrivent Financial for Lutherans Cuts Holdings in Livent Co. (NYSE:LTHM)

Posted by on May 15th, 2023

Thrivent Financial for Lutherans cut its position in shares of Livent Co. (NYSE:LTHM – Get Rating) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 183,992 shares of the company’s stock after selling 1,296 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.10% of Livent worth $3,656,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Paragon Wealth Strategies LLC purchased a new position in Livent during the third quarter worth about $31,000. Almanack Investment Partners LLC. purchased a new position in Livent in the third quarter valued at about $35,000. Wipfli Financial Advisors LLC purchased a new position in Livent in the third quarter valued at about $37,000. MUFG Americas Holdings Corp purchased a new position in Livent in the third quarter valued at about $46,000. Finally, Canada Pension Plan Investment Board purchased a new position in Livent in the third quarter valued at about $61,000. 90.62% of the stock is currently owned by hedge funds and other institutional investors.

Livent Stock Performance

Livent stock opened at $25.51 on Monday. The firm’s fifty day moving average price is $21.75 and its 200-day moving average price is $24.01. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.83 and a current ratio of 4.23. The stock has a market cap of $4.58 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 0.40 and a beta of 1.81. 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 posted its quarterly earnings data on Tuesday, May 2nd. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.21. The firm had revenue of $235.50 million for the quarter, compared to analysts’ expectations of $229.94 million. Livent had a net margin of 36.30% and a return on equity of 26.15%. The business’s quarterly revenue was up 64.1% on a year-over-year basis. During the same quarter last year, the company posted $0.21 EPS. On average, equities research analysts expect that Livent Co. will post 1.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Scotiabank reissued a “sector perform” rating on shares of Livent in a research report on Wednesday, February 15th. B. Riley raised shares of Livent from a “neutral” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Thursday. Raymond James lowered their price target on shares of Livent from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 5th. Mizuho lowered their price target on shares of Livent from $30.00 to $29.00 in a research report on Thursday, May 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Livent from $23.00 to $25.00 and gave the company a “hold” rating in a research report on Thursday, April 20th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.43.

Livent Company Profile

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding LTHM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Livent Co. (NYSE:LTHM – Get Rating).

Institutional Ownership by Quarter for Livent (NYSE:LTHM)

Receive News & Ratings for Livent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Livent and related companies with MarketBeat.com's FREE daily email newsletter.