Metropolitan Life Insurance Co NY raised its holdings in Livent Corporation (NASDAQ:LTHM) by 288.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,144 shares of the company’s stock after purchasing an additional 35,011 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Livent were worth $578,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. acquired a new position in shares of Livent during the fourth quarter worth about $31,000. Exane Derivatives acquired a new position in shares of Livent during the first quarter worth about $32,000. First Mercantile Trust Co. acquired a new position in shares of Livent during the first quarter worth about $33,000. Synovus Financial Corp acquired a new position in shares of Livent during the first quarter worth about $39,000. Finally, Shell Asset Management Co. acquired a new position in shares of Livent during the first quarter worth about $40,000.
Several research firms have recently weighed in on LTHM. Loop Capital reaffirmed a “buy” rating and set a $75.00 price objective on shares of Green Dot in a research report on Thursday, May 9th. Argus upped their target price on Leidos to $82.00 and gave the stock a “positive” rating in a report on Thursday, May 16th. Zacks Investment Research lowered H&E Equipment Services from a “hold” rating to a “sell” rating in a report on Wednesday. Gabelli lowered Livent from a “buy” rating to a “sell” rating in a report on Thursday, May 9th. Finally, Credit Suisse Group set a €38.00 ($44.19) target price on Dialog Semiconductor and gave the stock a “buy” rating in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Livent presently has an average rating of “Hold” and an average target price of $16.11.
Livent (NASDAQ:LTHM) last announced its earnings results on Tuesday, May 7th. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.01). The firm had revenue of $98.30 million during the quarter, compared to the consensus estimate of $105.43 million. The business’s revenue for the quarter was down 4.4% 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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