Envestnet Asset Management Inc. boosted its position in Livent Corporation (NYSE:LTHM) by 11.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,511 shares of the company’s stock after purchasing an additional 4,785 shares during the period. Envestnet Asset Management Inc.’s holdings in Livent were worth $318,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in LTHM. Ruffer LLP acquired a new stake in Livent in the second quarter valued at about $27,161,000. CIBC Private Wealth Group LLC lifted its position in Livent by 177.4% in the second quarter. CIBC Private Wealth Group LLC now owns 4,036,374 shares of the company’s stock valued at $27,931,000 after purchasing an additional 2,581,453 shares during the period. Van ECK Associates Corp acquired a new stake in Livent in the second quarter valued at about $11,003,000. Morgan Stanley lifted its position in Livent by 608.9% in the second quarter. Morgan Stanley now owns 1,041,654 shares of the company’s stock valued at $7,208,000 after purchasing an additional 894,707 shares during the period. Finally, Invesco Ltd. lifted its position in Livent by 527.6% in the second quarter. Invesco Ltd. now owns 844,340 shares of the company’s stock valued at $5,842,000 after purchasing an additional 709,808 shares during the period. Hedge funds and other institutional investors own 96.66% of the company’s stock.
Shares of Livent stock opened at $8.08 on Friday. Livent Corporation has a 12-month low of $5.49 and a 12-month high of $19.90. The company has a current ratio of 2.82, a quick ratio of 1.99 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.10 billion and a PE ratio of 12.75. The company has a 50-day moving average of $7.08 and a two-hundred day moving average of $7.12.
LTHM has been the subject of a number of research analyst reports. ValuEngine raised shares of Livent from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Bank of America cut shares of Livent from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $10.00 to $7.00 in a report on Monday, August 12th. Zacks Investment Research cut shares of Livent from a “hold” rating to a “sell” rating in a report on Thursday, October 10th. Citigroup dropped their target price on shares of Livent from $8.25 to $7.50 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Nomura set a $9.00 target price on shares of Livent and gave the company a “hold” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $13.31.
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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