Victory Capital Management Inc. lowered its holdings in shares of Livent Corporation (NYSE:LTHM) by 73.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 576,289 shares of the company’s stock after selling 1,558,473 shares during the period. Victory Capital Management Inc.’s holdings in Livent were worth $3,988,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. California Public Employees Retirement System acquired a new stake in shares of Livent in the 1st quarter valued at $2,474,000. Raymond James & Associates boosted its stake in shares of Livent by 136.1% in the 1st quarter. Raymond James & Associates now owns 131,925 shares of the company’s stock valued at $1,620,000 after purchasing an additional 76,055 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Livent in the 1st quarter valued at $2,014,000. Great West Life Assurance Co. Can acquired a new stake in shares of Livent in the 1st quarter valued at $2,149,000. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Livent by 495.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 839,304 shares of the company’s stock valued at $10,307,000 after purchasing an additional 698,457 shares in the last quarter. Hedge funds and other institutional investors own 97.98% of the company’s stock.
Several equities research analysts have recently commented on the stock. Nomura set a $9.00 target price on shares of Livent and gave the company a “hold” rating in a research note on Wednesday, August 7th. Zacks Investment Research downgraded shares of Livent from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Citigroup set a $8.00 target price on shares of Livent and gave the company a “hold” rating in a research note on Monday, August 12th. ValuEngine upgraded shares of Livent from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Bank of America downgraded shares of Livent from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $10.00 to $7.00 in a research report on Monday, August 12th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $15.11.
Livent (NYSE:LTHM) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. The business had revenue of $114.00 million for the quarter, compared to the consensus estimate of $108.85 million. Livent had a net margin of 19.88% and a return on equity of 19.98%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. Research analysts anticipate that Livent Corporation will post 0.58 EPS for the current fiscal year.
Livent Corporation manufactures and sells performance lithium compounds that are used primarily in energy storage, specialty polymers, and chemical synthesis application. 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 supplies butyllithium, which is used as a synthesizer 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 the production of lightweight materials for aerospace applications and non-rechargeable batteries.
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