Essex Investment Management Co. LLC Boosts Stock Holdings in Livent Co. (NYSE:LTHM)

Essex Investment Management Co. LLC raised its holdings in shares of Livent Co. (NYSE:LTHM) by 4.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 379,862 shares of the company’s stock after acquiring an additional 15,546 shares during the quarter. Livent comprises approximately 0.9% of Essex Investment Management Co. LLC’s portfolio, making the stock its 20th biggest holding. Essex Investment Management Co. LLC owned approximately 0.24% of Livent worth $7,354,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LTHM. Federated Hermes Inc. bought a new stake in Livent during the 1st quarter valued at $41,750,000. Renaissance Technologies LLC increased its holdings in shares of Livent by 219.6% in the first quarter. Renaissance Technologies LLC now owns 2,413,700 shares of the company’s stock worth $41,805,000 after purchasing an additional 1,658,400 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of Livent by 317.2% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,982,067 shares of the company’s stock worth $38,373,000 after purchasing an additional 1,507,012 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Livent by 48.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,479,176 shares of the company’s stock worth $60,259,000 after purchasing an additional 1,138,660 shares during the period. Finally, Van ECK Associates Corp increased its holdings in shares of Livent by 98.5% in the first quarter. Van ECK Associates Corp now owns 1,537,953 shares of the company’s stock worth $26,637,000 after purchasing an additional 763,009 shares during the period. 94.13% of the stock is currently owned by institutional investors and hedge funds.

LTHM has been the subject of several research reports. Vertical Research upgraded shares of Livent from a “sell” rating to a “hold” rating and set a $22.00 target price for the company in a research report on Monday, August 9th. Bank of America upped their price target on shares of Livent from $18.00 to $19.00 and gave the company an “underperform” rating in a research report on Wednesday, August 11th. They noted that the move was a valuation call. Loop Capital upped their price target on shares of Livent from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, August 23rd. Cowen upped their price target on shares of Livent from $19.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, August 30th. Finally, Citigroup upped their price target on shares of Livent from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, August 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Livent has a consensus rating of “Hold” and a consensus price target of $20.58.

Shares of Livent stock traded up $0.10 during midday trading on Monday, hitting $24.06. The company had a trading volume of 10,349 shares, compared to its average volume of 3,056,441. Livent Co. has a 52-week low of $7.53 and a 52-week high of $27.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.31 and a current ratio of 5.63. The stock has a market capitalization of $3.89 billion, a P/E ratio of -264.67, a P/E/G ratio of 3.71 and a beta of 2.18. The company has a 50 day moving average of $23.10 and a 200 day moving average of $19.99.

Livent (NYSE:LTHM) last released its earnings results on Thursday, August 5th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The firm had revenue of $102.20 million for the quarter, compared to analysts’ expectations of $88.80 million. Livent had a positive return on equity of 0.13% and a negative net margin of 3.18%. Equities research analysts forecast that Livent Co. will post 0.14 EPS for the current year.

About Livent

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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Institutional Ownership by Quarter for Livent (NYSE:LTHM)

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