Wellington Management Co. LLP recently announced the acquisition of new stake in Livent Corp (NYSE:LTHM). The institutional investor has increased its shareholding in the Basic Materials company by 0.92% to 12.6 million shares with purchase of 0.11 million shares. This fresh investment now brings its stake to 7.01% valued currently at $173.44 million. In addition, SSgA Funds Management, Inc. raised its holdings by 0.14 million to 6.26 million shares. And Grantham, Mayo, Van Otterloo & Co has lifted its position by 63.92% or 1.98 million shares – to 5.08 million shares.
Currently, there are 179.55M common shares owned by the public and among those 178.48M shares have been available to trade.
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Insiders at the company have transacted a total of 15 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 179,275 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 67,847 shares.
The top 3 mutual fund holders in Livent Corp are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. iShares Core S&P Small Cap ETF owns 12.03 million shares of the company’s stock, all valued at over $165.48 million. The company bought an additional 5838.0 shares recently to bring their total holdings to about 6.69% of the shares outstanding. Vanguard Total Stock Market ETF bought 10028.0 shares to see its total holdings expand to 5.62 million shares valued at over $77.29 million and representing 3.12% of the shares outstanding. Vanguard Small Cap Index Fund bought 11244.0 shares to bring its total holdings to over 4.64 million shares at a value of $63.81 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.58% of the shares outstanding.
However, the script later moved the day high at 18.16, down -0.17%. The company’s stock has a 5-day price change of 18.79% and -4.90% over the past three months. LTHM shares are trading -12.18% year to date (YTD), with the 12-month market performance down to -21.54% lower. It has a 12-month low price of $12.76 and touched a high of $29.17 over the same period. LTHM has an average intraday trading volume of 4.92 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 19.51%, 15.34%, and -16.82% respectively.
Institutional ownership of Livent Corp (NYSE: LTHM) shares accounts for 104.73% of the company’s 179.55M shares outstanding. Mutual fund holders own 67.19%, while other institutional holders and individual stakeholders account for 69.41% and 38.90% respectively.
It has a market capitalization of $3.14B and a beta (3y monthly) value of 1.75. The stock’s trailing 12-month PE ratio is 9.74, while the earnings-per-share (ttm) stands at $1.79. The company has a PEG of 0.32 and a Quick Ratio of 1.99 with the debt-to-equity ratio at 0.14. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.86% over the week and 4.87% over the month.
Analysts forecast that Livent Corp (LTHM) will achieve an EPS of $0.37 for the current quarter, $0.43 for the next quarter and $1.74 for 2024. The lowest estimate earnings-per-share for the quarter is $0.24 while analysts give the company a high EPS estimate of $0.4. Comparatively, EPS for the current quarter was $0.4 a year ago. Earnings per share for the fiscal year are expected to increase by 35.82%, and -9.44% over the next financial year. EPS should shrink at an annualized rate of 30.30% over the next five years, compared to 31.65% over the past 5-year period.
Looking at the support for the LTHM, a number of firms have released research notes about the stock. Piper Sandler stated their Underweight rating for the stock in a research note on December 05, 2023, with the firm’s price target at $18-$15.
