Wells Fargo & Company MN lifted its stake in Livent Corporation (NASDAQ:LTHM) by 22.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 648,525 shares of the company’s stock after acquiring an additional 118,005 shares during the period. Wells Fargo & Company MN’s holdings in Livent were worth $4,487,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. grew its position in shares of Livent by 1,314.0% in the 1st quarter. BlackRock Inc. now owns 22,020,859 shares of the company’s stock valued at $270,417,000 after buying an additional 20,463,527 shares during the last quarter. FMR LLC grew its position in shares of Livent by 126.6% in the 1st quarter. FMR LLC now owns 5,001,460 shares of the company’s stock valued at $61,418,000 after buying an additional 2,794,118 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Livent by 177.4% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 4,036,374 shares of the company’s stock valued at $27,931,000 after buying an additional 2,581,453 shares during the last quarter. Ruffer LLP purchased a new position in shares of Livent in the 2nd quarter valued at $27,161,000. Finally, Robecosam AG grew its position in shares of Livent by 38.4% in the 2nd quarter. Robecosam AG now owns 1,320,000 shares of the company’s stock valued at $9,306,000 after buying an additional 366,287 shares during the last quarter.
LTHM has been the topic of a number of recent analyst reports. Nomura set a $9.00 target price on shares of Livent and gave the company a “hold” rating in a research report on Wednesday, August 7th. Bank of America downgraded shares of Livent from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $10.00 to $7.00 in a research report on Monday, August 12th. Zacks Investment Research downgraded shares of Livent from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Finally, Citigroup set a $8.00 price target on shares of Livent and gave the stock a “hold” rating in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $15.11.
Livent (NASDAQ:LTHM) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.12. The business had revenue of $114.00 million for the quarter, compared to analyst estimates of $108.85 million. The company’s quarterly revenue was up 5.7% on a year-over-year basis.
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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