Prelude Capital Management LLC Takes $252,000 Position in Livent Co. (NYSE:LTHM)

Prelude Capital Management LLC bought a new position in Livent Co. (NYSE:LTHM) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,616 shares of the company’s stock, valued at approximately $252,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Livent by 3.2% during the first quarter. BlackRock Inc. now owns 25,674,467 shares of the company’s stock valued at $669,334,000 after purchasing an additional 797,187 shares during the last quarter. Vanguard Group Inc. boosted its stake in Livent by 10.2% during the 3rd quarter. Vanguard Group Inc. now owns 19,659,039 shares of the company’s stock valued at $602,549,000 after purchasing an additional 1,812,971 shares during the period. Wellington Management Group LLP grew its holdings in Livent by 5.7% in the 1st quarter. Wellington Management Group LLP now owns 7,824,996 shares of the company’s stock valued at $203,997,000 after buying an additional 421,082 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in Livent by 99.6% in the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 5,879,455 shares of the company’s stock worth $127,702,000 after buying an additional 2,933,180 shares during the period. Finally, State Street Corp lifted its holdings in shares of Livent by 4.4% during the first quarter. State Street Corp now owns 5,844,299 shares of the company’s stock worth $126,938,000 after buying an additional 247,821 shares during the last quarter. Institutional investors own 96.76% of the company’s stock.

Livent Stock Down 0.9 %

LTHM opened at $20.00 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.76 and a quick ratio of 2.37. The firm’s fifty day moving average price is $23.26 and its two-hundred day moving average price is $23.50. The company has a market capitalization of $3.59 billion, a P/E ratio of 11.49, a P/E/G ratio of 0.27 and a beta of 1.83. Livent Co. has a fifty-two week low of $18.26 and a fifty-two week high of $35.81.

Livent (NYSE:LTHM) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The company had revenue of $235.80 million for the quarter, compared to the consensus estimate of $257.00 million. Livent had a return on equity of 26.79% and a net margin of 38.85%. On average, analysts anticipate that Livent Co. will post 2.15 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. KeyCorp lowered their price objective on shares of Livent from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. Piper Sandler lowered their price objective on shares of Livent from $38.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, September 1st. Finally, HSBC lowered their price objective on shares of Livent from $37.00 to $33.50 in a research note on Friday, June 23rd. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $29.95.

Livent Company Profile

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.