BlackRock Fund Advisors has recently announced that it has increased stake in Livent Corporation (NYSE:LTHM) by 0.04%. After grabbing 23.81 million shares, the institutional investor is now in possession of 8660.0 shares of the Basic Materials Company. The new investment brought the stake of investor firm to 13.28% having worth around $751.69 million. Moreover, The Vanguard Group, Inc. increased its share by 0.23 million to have a control over 17.42 million shares. And Wellington Management Co. LLP raised its holdings to 0.78 million shares by acquiring 8.61 million shares or 4.80% of the stake.
Livent Corporation (LTHM) concluded trading on 11/17/22 at a closing price of $28.13, with 4.22 million shares of worth about $118.72 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -2.19% during that period and on Thursday the price saw a loss of about -3.10%. Currently the company’s common shares owned by public are about 179.30M shares, out of which, 178.16M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 21 analysts are covering the LTHM stock and their offered price forecasts bring an average price target of $34.08. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $45.00 and could fall to a lowest price of $27.00. The stock’s current price level is 17.31% above of average price target set by the analysts, while a rise to estimated low would result in loss of -4.19% for the stock. However, touching the estimated high of $45.00 would mean a gain of 37.49% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 21 times over the past 12 months. They bought 190,811 shares in 15 of the transactions. In 6 selling transactions, insiders dumped 118,713 shares.
iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Livent Corporation iShares Core S&P Small Cap ETF is currently holding 13.25 million shares of worth totaling $418.24 million. The company recently came buying 8264.0 shares which brought its stake up to 7.39% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 0.52 million shares, after which its hold over company’s outstanding shares expand to 2.98%, leaving 5.34 million shares with the mutual fund that have a worth of about $168.71 million. Vanguard Small Cap Index Fund, after buying 4.55 million shares, have now control over 2.54% of the stake in the company. It holds 0.45 million shares of worth $143.72 million.
Livent Corporation (NYSE: LTHM) started trading at $28.45, below -$0.58 from concluding price of the previous day. However, the stock later moved at a day high price of 28.49, or with a loss of -3.10%. Stock saw a price change of -15.12% in past 5 days and over the past one month there was a price change of -1.02%. Year-to-date (YTD), LTHM shares are showing a performance of 15.38% which decreased to -5.60% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $19.35 but also hit the highest price of $36.38 during that period. The average intraday trading volume for Livent Corporation shares is 3.67 million. The stock is currently trading -8.64% below its 20-day simple moving average (SMA20), while that difference is down -9.22% for SMA50 and it goes to 5.47% higher than SMA200.
BlackRock Fund Advisors acquired 23.81 million shares of Livent Corporation having value of about $751.69 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 8660.0 shares in the company valued at close to $243605.8, or have control over 0.04% stake in the company. Livent Corporation (NYSE: LTHM) currently have 179.30M outstanding shares and institutions hold larger chunk of about 91.50% of that. Holding of mutual funds in the company is about 59.72% while other institutional holders and individual stake holders have control over 69.56% and 31.97% of the stake respectively.
The stock has a current market capitalization of $4.97B and its 3Y-monthly beta is at 1.74. PE ratio of stock for trailing 12 months is 28.67, while it has posted earnings per share of $0.98 in the same period. Its PEG reads 28.67 and has Quick Ratio of 2.70 while making debt-to-equity ratio of 0.19. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for LTHM, volatility over the week remained 5.74% while standing at 6.27% over the month.
Analysts are in expectations that Livent Corporation (LTHM) stock would likely to be making an EPS of $0.4 in the current quarter, while forecast for next quarter EPS is $0.42 and it is $1.81 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.33 which is $0.49 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.03 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 102.90% while it is estimated to increase by 35.45% in next year. EPS is likely to grow at an annualized rate of 1.00% for next 5-years, compared to annual growth of -60.30% made by the stock over the past 5-years.
Analysts at 21 brokerage firms have issued recommendations for the Livent Corporation (LTHM)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.60. Out of those 21 Wall Street analysts, 7 recommended a “Buy” rating, while 11 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by B. Riley Securities on October 27, 2022 offering a Neutral rating for the stock and assigned a target price range of between $30 and $32 to it. Coverage by JP Morgan stated Livent Corporation (LTHM) stock as a Neutral in their note to investors on October 17, 2022, suggesting a price target of $28 for the stock. On October 03, 2022, BofA Securities Downgrade their recommendations, while on September 20, 2022, Piper Sandler Resumed their ratings for the stock with a price target of $42. Stock get a Hold rating from Vertical Research on September 12, 2022.