Principal Financial Group Inc. Sells 32,000 Shares of Livent Co. (NYSE:LTHM)

Principal Financial Group Inc. lessened its stake in Livent Co. (NYSE:LTHMGet Rating) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,241,721 shares of the company’s stock after selling 32,000 shares during the period. Principal Financial Group Inc. owned approximately 0.77% of Livent worth $30,273,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its stake in Livent by 77.7% in the 4th quarter. Bessemer Group Inc. now owns 1,189 shares of the company’s stock worth $29,000 after buying an additional 520 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Livent by 75.0% in the 4th quarter. IFP Advisors Inc now owns 1,750 shares of the company’s stock valued at $42,000 after purchasing an additional 750 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Livent by 47.4% in the 4th quarter. Spire Wealth Management now owns 2,147 shares of the company’s stock valued at $52,000 after purchasing an additional 690 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Livent in the 1st quarter valued at $52,000. Finally, CWM LLC purchased a new stake in shares of Livent in the 4th quarter valued at $113,000. 97.33% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have weighed in on the stock. Cowen raised shares of Livent from a “market perform” rating to an “outperform” rating and increased their price target for the company from $25.00 to $33.00 in a research report on Wednesday, May 4th. Bank of America raised shares of Livent from an “underperform” rating to a “neutral” rating in a research report on Tuesday, February 1st. Cowen raised shares of Livent from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 4th. Mizuho increased their price target on shares of Livent from $26.00 to $34.00 in a research report on Thursday, May 5th. Finally, TheStreet raised shares of Livent from a “c” rating to a “b-” rating in a research report on Wednesday, May 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $29.25.

NYSE LTHM opened at $26.37 on Friday. The company has a quick ratio of 1.78, a current ratio of 3.03 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average of $24.37 and a two-hundred day moving average of $25.15. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 97.67 and a beta of 2.03. Livent Co. has a 52 week low of $16.75 and a 52 week high of $33.04.

Livent (NYSE:LTHMGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.07. Livent had a net margin of 11.56% and a return on equity of 8.69%. The company had revenue of $143.50 million during the quarter, compared to analyst estimates of $139.92 million. During the same period in the prior year, the firm earned $0.02 earnings per share. The firm’s revenue for the quarter was up 56.5% compared to the same quarter last year. Equities research analysts anticipate that Livent Co. will post 1.23 EPS for the current year.

About Livent (Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Livent (NYSE:LTHM)

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