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.
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.
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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