Livent Corporation (LTHM) Stock Benefitted from Electric Vehicle Adoption

Chartwell Investment Partners, an affiliate of Carillon Tower Advisers, an investment management company, released its “Carillon Chartwell Small Cap Growth Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. The fund slightly underperformed relative to its benchmark Russell 2000 Growth Index. The letter noted that although there is a positive momentum in the US market, still there are many challenges that slow growth. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers highlighted stocks like Livent Corporation (NYSE:LTHM) in its Q3 2022 investor letter. Headquartered in Philadelphia, Pennsylvania, Livent Corporation (NYSE:LTHM) is a performance lithium compounds manufacturer. On December 12, 2022, Livent Corporation (NYSE:LTHM) stock closed at $23.93 per share. One-month return of Livent Corporation (NYSE:LTHM) was -20.29% and its shares lost 5.68% of their value over the last 52 weeks. Livent Corporation (NYSE:LTHM) has a market capitalization of $4.292 billion.

Carillon Tower Advisers made the following comment about Livent Corporation (NYSE:LTHM) in its Q3 2022 investor letter:

Livent Corporation (NYSE:LTHM) also performed well during the quarter. There is increased enthusiasm among investors towards lithium producers driven by rapid electric vehicle adoption on a global scale. There is greater appreciation for the significant barriers to entry for lithium, and as a result lithium commodity pricing has remained robust, contrary to the weakening commodity prices for other metals.”

Livent Corporation (NYSE:LTHM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held Livent Corporation (NYSE:LTHM) at the end of the third quarter, which was 30 in the previous quarter.

We discussed Livent Corporation (NYSE:LTHM) in another article and shared First Pacific Advisors’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.