Handelsbanken Fonder AB Sells 788,822 Shares of Livent Co. (NYSE:LTHM)

Posted by on Jul 23rd, 2023

Handelsbanken Fonder AB lessened its stake in Livent Co. (NYSE:LTHM – Free Report) by 96.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,300 shares of the company’s stock after selling 788,822 shares during the period. Handelsbanken Fonder AB’s holdings in Livent were worth $702,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Almanack Investment Partners LLC. purchased a new stake in Livent during the 3rd quarter valued at $35,000. BerganKDV Wealth Management LLC purchased a new position in shares of Livent in the 1st quarter worth $38,000. Paragon Wealth Strategies LLC raised 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 during the period. MUFG Americas Holdings Corp bought a new position in Livent in the 3rd quarter worth $46,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Livent in the 4th quarter worth $66,000. Institutional investors own 95.82% of the company’s stock.

Livent Stock Down 4.2 %

Shares of NYSE:LTHM opened at $26.53 on Friday. Livent Co. has a 1 year low of $18.26 and a 1 year high of $36.38. The business has a 50 day simple moving average of $26.30 and a two-hundred day simple moving average of $24.05. The firm has a market capitalization of $4.77 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 0.44 and a beta of 1.83. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.23 and a quick ratio of 2.83.

Livent (NYSE:LTHM – Get Free Report) last posted its quarterly earnings results 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. Livent had a net margin of 36.30% and a return on equity of 26.15%. The firm had revenue of $235.50 million during the quarter, compared to the consensus estimate of $229.94 million. During the same quarter in the previous year, the firm posted $0.21 earnings per share. The company’s revenue was up 64.1% on a year-over-year basis. On average, equities analysts predict that Livent Co. will post 2.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. CICC Research raised Livent from a “market perform” rating to an “outperform” rating in a report on Thursday, May 4th. B. Riley raised Livent from a “neutral” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Thursday, May 11th. Raymond James decreased their price target on Livent from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, April 5th. HSBC cut their price objective on Livent from $37.00 to $33.50 in a research report on Friday, June 23rd. Finally, Bank of America upgraded Livent from a “neutral” rating to a “buy” rating and cut their price objective for the company from $29.00 to $27.00 in a research report on Wednesday, April 5th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.23.

About Livent

(Free Report)

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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Institutional Ownership by Quarter for Livent (NYSE:LTHM)

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