Municipal Employees Retirement System of Michigan increased its stake in shares of LyondellBasell Industries NV (NYSE:LYB) by 8.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,340 shares of the specialty chemicals company’s stock after buying an additional 1,250 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in LyondellBasell Industries NV were worth $1,378,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC bought a new position in LyondellBasell Industries NV during the first quarter valued at $107,000. TrimTabs Asset Management LLC increased its position in LyondellBasell Industries NV by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the specialty chemicals company’s stock valued at $124,000 after buying an additional 640 shares during the period. Point72 Asia Hong Kong Ltd bought a new position in LyondellBasell Industries NV during the first quarter valued at $132,000. American Beacon Advisors Inc. bought a new position in LyondellBasell Industries NV during the first quarter valued at $161,000. Finally, Americafirst Capital Management LLC increased its position in LyondellBasell Industries NV by 72.9% in the first quarter. Americafirst Capital Management LLC now owns 2,186 shares of the specialty chemicals company’s stock valued at $199,000 after buying an additional 922 shares during the period. Institutional investors own 74.76% of the company’s stock.

Shares of LyondellBasell Industries NV (NYSE:LYB) opened at 88.78 on Monday. The stock has a 50 day moving average price of $84.36 and a 200 day moving average price of $86.92. The company has a market capitalization of $35.14 billion, a PE ratio of 9.91 and a beta of 1.06. LyondellBasell Industries NV has a one year low of $71.55 and a one year high of $97.64.

LyondellBasell Industries NV (NYSE:LYB) last issued its quarterly earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.68 by $0.14. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.52 billion. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. LyondellBasell Industries NV’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the company posted $2.56 EPS. On average, equities research analysts predict that LyondellBasell Industries NV will post $9.84 earnings per share for the current year.

LyondellBasell Industries NV declared that its Board of Directors has authorized a share buyback plan on Wednesday, May 24th that authorizes the company to repurchase 1,000% of outstanding shares. This repurchase authorization authorizes the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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Several research firms recently weighed in on LYB. Deutsche Bank AG reiterated a “buy” rating and set a $94.00 target price (up from $90.00) on shares of LyondellBasell Industries NV in a research report on Monday, July 31st. Vertical Research raised LyondellBasell Industries NV from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Tuesday, May 9th. UBS AG reissued a “neutral” rating and set a $85.00 price target (down from $94.00) on shares of LyondellBasell Industries NV in a report on Sunday, June 25th. HSBC Holdings plc assumed coverage on LyondellBasell Industries NV in a report on Monday, June 26th. They set a “buy” rating and a $101.00 price target on the stock. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $92.00 price target on shares of LyondellBasell Industries NV in a report on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. LyondellBasell Industries NV currently has a consensus rating of “Hold” and a consensus price target of $94.81.

In related news, Director Jagjeet S. Bindra sold 3,224 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $89.20, for a total value of $287,580.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.14% of the company’s stock.

LyondellBasell Industries NV Company Profile

LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.

Institutional Ownership by Quarter for LyondellBasell Industries NV (NYSE:LYB)

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