Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its stake in shares of LyondellBasell Industries NV (NYSE:LYB) by 8.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,714 shares of the specialty chemicals company’s stock after selling 6,400 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in LyondellBasell Industries NV were worth $5,883,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Oliver Luxxe Assets LLC raised its stake in LyondellBasell Industries NV by 3.8% in the first quarter. Oliver Luxxe Assets LLC now owns 8,171 shares of the specialty chemicals company’s stock valued at $745,000 after buying an additional 297 shares during the period. FMR LLC raised its stake in LyondellBasell Industries NV by 20.7% in the first quarter. FMR LLC now owns 29,128,736 shares of the specialty chemicals company’s stock valued at $2,656,249,000 after buying an additional 4,990,465 shares during the period. Advisory Services Network LLC acquired a new stake in LyondellBasell Industries NV during the first quarter valued at $1,746,000. BlackRock Inc. raised its stake in LyondellBasell Industries NV by 2,032.9% in the first quarter. BlackRock Inc. now owns 20,062,376 shares of the specialty chemicals company’s stock valued at $1,829,488,000 after buying an additional 19,121,769 shares during the period. Finally, South Dakota Investment Council raised its stake in LyondellBasell Industries NV by 1.7% in the first quarter. South Dakota Investment Council now owns 140,481 shares of the specialty chemicals company’s stock valued at $12,810,000 after buying an additional 2,400 shares during the period. 74.76% of the stock is currently owned by institutional investors and hedge funds.

Shares of LyondellBasell Industries NV (LYB) opened at 87.60 on Friday. The company’s 50 day moving average price is $85.92 and its 200-day moving average price is $86.92. The company has a market capitalization of $34.67 billion, a price-to-earnings ratio of 9.78 and a beta of 1.06. LyondellBasell Industries NV has a 1-year low of $74.02 and a 1-year high of $97.64.

LyondellBasell Industries NV (NYSE:LYB) last posted its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.52 billion. During the same quarter last year, the firm earned $2.56 EPS. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, equities analysts forecast that LyondellBasell Industries NV will post $9.89 earnings per share for the current year.

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

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LYB has been the topic of a number of recent research reports. Bank of America Corporation lowered LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and cut their price target for the company from $98.00 to $70.00 in a research note on Monday, May 8th. 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 research note on Tuesday, May 9th. Deutsche Bank AG reissued a “buy” rating and set a $94.00 price target (up from $90.00) on shares of LyondellBasell Industries NV in a research note on Monday, July 31st. Zacks Investment Research lowered LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, BidaskClub lowered LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $94.81.

In other LyondellBasell Industries NV news, Director Jagjeet S. Bindra sold 3,224 shares of the firm’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is accessible 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.

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

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