New Mexico Educational Retirement Board reduced its position in shares of LyondellBasell Industries NV (NYSE:LYB) by 8.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,700 shares of the specialty chemicals company’s stock after selling 2,800 shares during the period. New Mexico Educational Retirement Board’s holdings in LyondellBasell Industries NV were worth $2,766,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Harbour Capital Advisors LLC purchased a new position in LyondellBasell Industries NV during the first quarter worth $107,000. TrimTabs Asset Management LLC boosted its position in shares of 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 last quarter. Point72 Asia Hong Kong Ltd bought a new position in shares of LyondellBasell Industries NV during the first quarter valued at approximately $132,000. American Beacon Advisors Inc. bought a new position in shares of LyondellBasell Industries NV during the first quarter valued at approximately $161,000. Finally, Seven Bridges Advisors LLC boosted its position in shares of LyondellBasell Industries NV by 32.8% in the second quarter. Seven Bridges Advisors LLC now owns 1,936 shares of the specialty chemicals company’s stock valued at $163,000 after buying an additional 478 shares during the last quarter. 74.76% of the stock is owned by institutional investors.

LyondellBasell Industries NV (NYSE:LYB) opened at 89.20 on Thursday. LyondellBasell Industries NV has a one year low of $74.02 and a one year high of $97.64. The company has a market cap of $35.31 billion, a PE ratio of 9.96 and a beta of 1.06. The firm has a 50-day moving average of $85.69 and a 200-day moving average of $86.91.

LyondellBasell Industries NV (NYSE:LYB) last issued its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.14. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.52 billion. During the same period in the previous year, the business earned $2.56 EPS. The firm’s revenue was up 14.7% on a year-over-year basis. On average, analysts predict that LyondellBasell Industries NV will post $9.89 EPS for the current year.

LyondellBasell Industries NV declared that its board has approved a share buyback plan on Wednesday, May 24th that permits the company to repurchase 1,000% of outstanding shares. This repurchase authorization permits the specialty chemicals company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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Several equities analysts have recently commented on LYB shares. Bank of America Corporation cut shares of LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $98.00 to $70.00 in a research report on Monday, May 8th. Vertical Research raised shares of LyondellBasell Industries NV from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research report on Tuesday, May 9th. Instinet reduced their price target on shares of LyondellBasell Industries NV from $91.00 to $90.00 and set a “neutral” rating on the stock in a research report on Monday, May 1st. Citigroup Inc. reaffirmed an “overweight” rating on shares of LyondellBasell Industries NV in a research report on Friday, April 14th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $110.00 price target on shares of LyondellBasell Industries NV in a research report on Wednesday, June 28th. 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 stock. LyondellBasell Industries NV has a consensus rating of “Hold” and an average price target of $94.81.

In other news, Director Jagjeet S. Bindra sold 3,224 shares of LyondellBasell Industries NV stock in a transaction dated Tuesday, August 1st. The shares were 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 available through the SEC website. 0.14% of the stock is currently owned by insiders.

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

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