First Eagle Investment Management LLC Buys 24,000 Shares of Livent Co. (NYSE:LTHM)

First Eagle Investment Management LLC boosted its stake in Livent Co. (NYSE:LTHMGet Rating) by 133.9% in the fourth quarter, HoldingsChannel reports. The firm owned 41,918 shares of the company’s stock after acquiring an additional 24,000 shares during the period. First Eagle Investment Management LLC’s holdings in Livent were worth $1,022,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of LTHM. Bessemer Group Inc. grew its position in shares of Livent by 77.7% during the 4th quarter. Bessemer Group Inc. now owns 1,189 shares of the company’s stock valued at $29,000 after acquiring an additional 520 shares during the period. IFP Advisors Inc boosted its holdings in Livent by 75.0% in the 4th quarter. IFP Advisors Inc now owns 1,750 shares of the company’s stock worth $42,000 after buying an additional 750 shares during the period. Spire Wealth Management boosted its holdings in Livent by 47.4% in the 4th quarter. Spire Wealth Management now owns 2,147 shares of the company’s stock worth $52,000 after buying an additional 690 shares during the period. Marshall Wace LLP bought a new position in Livent in the 1st quarter worth $52,000. Finally, CWM LLC bought a new position in Livent in the 4th quarter worth $113,000. 97.33% of the stock is owned by hedge funds and other institutional investors.

LTHM stock traded up $2.93 during mid-day trading on Friday, reaching $26.37. The company had a trading volume of 4,352,429 shares, compared to its average volume of 3,301,289. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.03 and a quick ratio of 1.78. The company has a market capitalization of $4.27 billion, a PE ratio of 97.67 and a beta of 2.03. The firm has a 50 day moving average of $24.37 and a 200 day moving average of $25.15. Livent Co. has a 12 month low of $16.75 and a 12 month high of $33.04.

Livent (NYSE:LTHMGet Rating) last issued its earnings results on Tuesday, May 3rd. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.07. The business had revenue of $143.50 million for the quarter, compared to the consensus estimate of $139.92 million. Livent had a net margin of 11.56% and a return on equity of 8.69%. The company’s revenue for the quarter was up 56.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 EPS. Analysts anticipate that Livent Co. will post 1.23 EPS for the current year.

Several research analysts recently weighed in on LTHM shares. Cowen raised shares of Livent from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $25.00 to $33.00 in a report on Wednesday, May 4th. Mizuho boosted their price target on shares of Livent from $26.00 to $34.00 in a research note on Thursday, May 5th. Bank of America upgraded shares of Livent from an “underperform” rating to a “neutral” rating in a research note on Tuesday, February 1st. Cowen upgraded shares of Livent from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 4th. Finally, TheStreet upgraded shares of Livent from a “c” rating to a “b-” rating in a research note on Wednesday, May 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $29.25.

Livent Company Profile (Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Livent (NYSE:LTHM)

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