Livent Co. (NYSE:LTHM) Stock Position Trimmed by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in Livent Co. (NYSE:LTHM) by 18.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,273,721 shares of the company’s stock after selling 287,411 shares during the quarter. Principal Financial Group Inc.’s holdings in Livent were worth $29,435,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of LTHM. Grantham Mayo Van Otterloo & Co. LLC lifted its position in Livent by 317.2% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,982,067 shares of the company’s stock valued at $38,373,000 after purchasing an additional 1,507,012 shares during the last quarter. Vanguard Group Inc. lifted its position in Livent by 7.8% in the 2nd quarter. Vanguard Group Inc. now owns 17,061,497 shares of the company’s stock valued at $330,310,000 after purchasing an additional 1,241,572 shares during the last quarter. Amundi bought a new stake in Livent in the 2nd quarter valued at about $16,096,000. Allianz Asset Management GmbH lifted its position in Livent by 56.4% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,993,719 shares of the company’s stock valued at $38,598,000 after purchasing an additional 719,152 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in Livent in the 2nd quarter valued at about $11,952,000. Hedge funds and other institutional investors own 94.06% of the company’s stock.

LTHM has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Livent from $34.00 to $31.00 in a research report on Tuesday. TheStreet upgraded shares of Livent from a “d+” rating to a “c” rating in a research report on Monday, October 11th. Mizuho boosted their price target on shares of Livent from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 9th. Loop Capital lifted their price objective on shares of Livent from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 4th. Finally, Vertical Research raised shares of Livent from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Tuesday, January 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $26.64.

Shares of Livent stock opened at $24.58 on Friday. The firm has a fifty day simple moving average of $27.17 and a 200-day simple moving average of $24.66. The company has a current ratio of 4.87, a quick ratio of 3.63 and a debt-to-equity ratio of 0.31. Livent Co. has a 1-year low of $14.73 and a 1-year high of $33.04. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of -273.11, a PEG ratio of 1.26 and a beta of 2.10.

Livent (NYSE:LTHM) last issued its quarterly earnings data on Thursday, November 4th. The company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). The firm had revenue of $103.60 million during the quarter, compared to analyst estimates of $96.00 million. Livent had a positive return on equity of 2.22% and a negative net margin of 3.13%. Livent’s quarterly revenue was up 42.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. As a group, research analysts predict that Livent Co. will post 0.15 earnings per share for the current year.

About Livent

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.

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Institutional Ownership by Quarter for Livent (NYSE:LTHM)

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