Parametric Portfolio Associates LLC increased its position in Livent Corporation (NASDAQ:LTHM) by 495.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 839,304 shares of the company’s stock after buying an additional 698,457 shares during the period. Parametric Portfolio Associates LLC’s holdings in Livent were worth $10,307,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in LTHM. FMR LLC acquired a new position in Livent in the fourth quarter worth approximately $30,461,000. Victory Capital Management Inc. acquired a new position in Livent in the first quarter worth approximately $26,215,000. BlackRock Inc. acquired a new position in Livent in the fourth quarter worth approximately $21,491,000. Bank of New York Mellon Corp acquired a new position in Livent in the fourth quarter worth approximately $9,382,000. Finally, Peregrine Capital Management LLC acquired a new position in Livent in the first quarter worth approximately $7,314,000.
Shares of LTHM stock opened at $7.25 on Friday. Livent Corporation has a 12 month low of $6.22 and a 12 month high of $19.90.
Livent (NASDAQ:LTHM) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $98.30 million during the quarter, compared to the consensus estimate of $105.43 million. The business’s quarterly revenue was down 4.4% on a year-over-year basis.
A number of equities analysts recently commented on LTHM shares. Bank of America set a $16.00 price objective on Livent and gave the stock a “buy” rating in a report on Thursday, February 14th. Credit Suisse Group set a $18.00 price objective on Livent and gave the stock a “buy” rating in a report on Thursday, February 14th. Loop Capital set a $18.00 price objective on Livent and gave the stock a “buy” rating in a report on Friday, March 1st. Gabelli assumed coverage on Livent in a report on Wednesday, February 27th. They issued a “buy” rating and a $21.00 price objective on the stock. Finally, Vertical Research downgraded Livent from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $16.47.
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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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