On May 11, 2023, the Texas Permanent School Fund announced it had lowered its stake in Livent Co. (NYSE:LTHM) by 6.5% in the fourth quarter of the previous year. This move was disclosed to the SEC as part of the institutional investor’s most recent filing, which revealed it owned approximately 0.07% of Livent worth $2,396,000 at that time.
Livent had also recently posted its earnings results on May 2nd- and they were impressive indeed. The company reported an EPS of $0.60 for the quarter, exceeding analyst estimates by $0.21. Additionally, Livent saw a return on equity of over 26% and a net margin of more than 36%. The firm’s revenue for the quarter was $235.50 million, outpacing analyst expectations of $229.94 million by a significant amount.
These numbers are particularly noteworthy given that during the same period last year, Livent only earned an EPS of $0.21- signaling incredible growth and improvement in just one year’s time.
Despite these promising results from Livent Co., hedge fund enthusiasts may still be curious about other investors’ opinions on this stock- and can find more information through HoldingsChannel.com regarding other filings and insider trades related to NYSE:LTHM.
Overall, while Texas Permanent School Fund has sold some shares in Livent Co., it seems that this does not reflect weakened confidence in Livent’s potential for continued growth and success- particularly given their impressive performance in Q1 of this year compared to last year’s results.
Livent Co. (NYSE:LTHM): Institutional Investors and Analysts Analyze Stock Performance and Offer Insights
Livent Co. (NYSE:LTHM) recently reported modifications to the holdings of several large investors, including Crossmark Global Holdings Inc., Navellier & Associates Inc., Vectors Research Management LLC, Regent Investment Management LLC, and Great West Life Assurance Co. Can, according to data from Bloomberg obtained on May 11th, 2023. Institutional investors as well as hedge funds currently own 90.62% of the company’s stock.
LTHM opened at $25.50 on Thursday with a market cap of $4.58 billion and has a P/E ratio of 15.74, a P/E/G ratio of 0.40 and a beta of 1.81. The company’s products include battery-grade lithium hydroxide, butyllithium and purity lithium metal and are used in various performance applications.
In terms of stock performance, Livent has a 12-month low of $18.26 and high of $36.38 with its recent price trend standing at $21.68 for the 50-day moving average and $24.14 for the 200-day moving average.
Several research analysts have offered their insights about LTHM recently as well, with Raymond James reducing their target price from $35 to $30 whilst affirming an “outperform” rating on the stock in a report dated April 5th; Bank of America increased Livent’s rating from “neutral” to “buy” but cut their price estimate from $29 to $27 in an April 5th report; CICC Research augmented Livent from a “market perform” ranking to an “outperform” ranking on May 4th; Scotiabank also reaffirmed Livent’s rating as “sector perform” on February 15th ; finally, Mizuho lowered their target price for Livent from $30 to $29 in their May report.
In conclusion, Livent presents itself as a viable option for investors due to its focus on production of performance lithium compounds, commendable 12-month highs and relatively steady prices in recent times. Its consensus rating of “Hold” and price target of $29.43 further bolster this fund’s investment potential.