Cumberland Partners Ltd increased its position in shares of LyondellBasell Industries NV (NYSE:LYB) by 33.1% during the second quarter, Holdings Channel reports. The fund owned 205,755 shares of the specialty chemicals company’s stock after buying an additional 51,200 shares during the period. LyondellBasell Industries NV makes up 2.5% of Cumberland Partners Ltd’s holdings, making the stock its 16th largest position. Cumberland Partners Ltd’s holdings in LyondellBasell Industries NV were worth $17,364,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LYB. Hexavest Inc. increased its stake in shares of LyondellBasell Industries NV by 5.0% in the first quarter. Hexavest Inc. now owns 752,936 shares of the specialty chemicals company’s stock worth $68,660,000 after buying an additional 35,592 shares during the last quarter. Rothschild Investment Corp IL increased its stake in shares of LyondellBasell Industries NV by 7.0% in the first quarter. Rothschild Investment Corp IL now owns 18,388 shares of the specialty chemicals company’s stock worth $1,677,000 after buying an additional 1,206 shares during the last quarter. Private Wealth Partners LLC bought a new stake in shares of LyondellBasell Industries NV during the first quarter worth $5,522,000. Gateway Investment Advisers LLC increased its stake in shares of LyondellBasell Industries NV by 6.5% in the first quarter. Gateway Investment Advisers LLC now owns 257,892 shares of the specialty chemicals company’s stock worth $23,517,000 after buying an additional 15,823 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of LyondellBasell Industries NV during the first quarter worth $3,650,000. 74.76% of the stock is currently owned by institutional investors.

Shares of LyondellBasell Industries NV (LYB) opened at 87.60 on Friday. The firm has a market cap of $34.67 billion, a P/E ratio of 9.78 and a beta of 1.06. The company’s 50 day moving average price is $85.92 and its 200-day moving average price is $86.92. LyondellBasell Industries NV has a 12-month low of $74.02 and a 12-month high of $97.64.

LyondellBasell Industries NV (NYSE:LYB) last released its quarterly earnings data on Friday, July 28th. The specialty chemicals company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.14. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate 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 in the prior year, the business posted $2.56 EPS. On average, equities research analysts anticipate that LyondellBasell Industries NV will post $9.89 EPS for the current year.

LyondellBasell Industries NV announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 24th that permits the company to repurchase 1,000% of shares. This repurchase authorization permits the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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A number of brokerages recently weighed in on LYB. UBS AG reaffirmed a “neutral” rating and set a $88.00 price objective (up previously from $85.00) on shares of LyondellBasell Industries NV in a research report on Monday, July 31st. BidaskClub downgraded LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Deutsche Bank AG reaffirmed a “buy” rating and set a $94.00 price objective (up previously from $90.00) on shares of LyondellBasell Industries NV in a research report on Monday, July 31st. Zacks Investment Research downgraded LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $92.00 price objective on shares of LyondellBasell Industries NV in a research report on Friday, July 14th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $94.81.

In related news, Director Jagjeet S. Bindra sold 3,224 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total value of $287,580.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

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.

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

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