Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In Q3 2023, small-cap stocks posted negative returns after a mostly positive first-half performance. Russell 2000 Growth Index declined 7.32%, significantly underperforming the Russell 2000 Value Index (down 2.97%). In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Carillon Eagle Small Cap Growth Fund highlighted stocks like Livent Corporation (NYSE:LTHM) in the third quarter 2023 investor letter. Headquartered in Philadelphia, Pennsylvania, Livent Corporation (NYSE:LTHM) is a performance lithium compounds manufacturer and distributor. On October 26, 2023, Livent Corporation (NYSE:LTHM) stock closed at $15.30 per share. One-month return of Livent Corporation (NYSE:LTHM) was -16.89%, and its shares lost 51.07% of their value over the last 52 weeks. Livent Corporation (NYSE:LTHM) has a market capitalization of $2.75 billion.
Carillon Eagle Small Cap Growth Fund made the following comment about Livent Corporation (NYSE:LTHM) in its Q3 2023 investor letter:
“Livent Corporation (NYSE:LTHM) is a pure-play, fully integrated producer of performance lithium compounds. The decline in lithium spot market prices, primarily in China, pressured shares. Despite this near-term headwind, the global lithium market remains tight in the long term. We believe Livent plays a critical role in the electric vehicle (EV) battery value-chain and is well-positioned for the overall growing global adoption of EVs. The company also remains on track to close its announced merger with an Australian-based peer by the end of the year. The combined company will benefit from enhanced operating flexibility and an increased global footprint.”
Photo by Mika Baumeister on Unsplash
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 second quarter which was 32 in the previous quarter.
We discussed Livent Corporation (NYSE:LTHM) in another article and shared the list of biggest lithium stocks to invest in. In addition, please check out our hedge fund investor letters Q3 2023 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.
