Advisor Partners LLC Acquires 166 Shares of LyondellBasell Industries NV (LYB)
Advisor Partners LLC raised its position in LyondellBasell Industries NV (NYSE:LYB) by 3.3% during the second quarter, Holdings Channel reports. The fund owned 5,241 shares of the specialty chemicals company’s stock after buying an additional 166 shares during the period. Advisor Partners LLC’s holdings in LyondellBasell Industries NV were worth $442,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Quadrature Capital Ltd acquired a new stake in shares of LyondellBasell Industries NV during the fourth quarter worth $546,000. Highland Capital Management LLC acquired a new stake in shares of LyondellBasell Industries NV during the first quarter worth $4,692,000. Gradient Investments LLC raised its stake in shares of LyondellBasell Industries NV by 14,489.5% in the first quarter. Gradient Investments LLC now owns 2,772 shares of the specialty chemicals company’s stock worth $253,000 after buying an additional 2,753 shares during the last quarter. TNB Financial acquired a new stake in shares of LyondellBasell Industries NV during the first quarter worth $793,000. Finally, Verde Servicos Internacionais S.A. acquired a new stake in shares of LyondellBasell Industries NV during the first quarter worth $291,000. Hedge funds and other institutional investors own 74.76% of the company’s stock.
LyondellBasell Industries NV (NYSE:LYB) opened at 88.73 on Wednesday. The stock has a market capitalization of $35.12 billion, a P/E ratio of 9.91 and a beta of 1.06. LyondellBasell Industries NV has a 12 month low of $74.02 and a 12 month high of $97.64. The firm’s 50-day moving average is $84.99 and its 200-day moving average is $86.96.
LyondellBasell Industries NV (NYSE:LYB) last announced its quarterly earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 EPS for the quarter, beating the 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 return on equity of 60.87% and a net margin of 11.40%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.56 earnings per share. On average, equities analysts expect that LyondellBasell Industries NV will post $9.89 earnings per share for the current fiscal year.
LyondellBasell Industries NV declared that its Board of Directors has approved a stock repurchase plan on Wednesday, May 24th that permits the company to buyback 1,000% of outstanding shares. This buyback authorization permits the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
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A number of equities research analysts have recently weighed in on LYB shares. Citigroup Inc. restated an “overweight” rating on shares of LyondellBasell Industries NV in a report on Friday, April 14th. Instinet lowered their price objective on shares of LyondellBasell Industries NV from $91.00 to $90.00 and set a “neutral” rating for the company in a report on Monday, May 1st. Bank of America Corporation lowered shares of LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $98.00 to $70.00 in a report on Monday, May 8th. Vertical Research upgraded shares of LyondellBasell Industries NV from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Tuesday, May 9th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $88.00 price objective on shares of LyondellBasell Industries NV in a report on Friday, June 16th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $94.81.
In other news, Director Jagjeet S. Bindra sold 3,224 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total transaction of $287,580.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.14% of the company’s stock.
About LyondellBasell Industries NV
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.
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