Robeco Institutional Asset Management B.V. cut its position in shares of LyondellBasell Industries (NYSE:LYB) by 0.0% during the second quarter, Holdings Channel reports. The firm owned 148,749 shares of the company’s stock after selling 47 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in LyondellBasell Industries were worth $11,071,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Americafirst Capital Management LLC acquired a new position in shares of LyondellBasell Industries during the second quarter worth about $106,000. Daiwa SB Investments Ltd. raised its position in shares of LyondellBasell Industries by 8.3% in the second quarter. Daiwa SB Investments Ltd. now owns 1,830 shares of the company’s stock worth $135,000 after buying an additional 140 shares during the period. Checchi Capital Advisers LLC raised its position in shares of LyondellBasell Industries by 0.3% in the second quarter. Checchi Capital Advisers LLC now owns 2,271 shares of the company’s stock worth $169,000 after buying an additional 7 shares during the period. BKD Wealth Advisors LLC raised its position in shares of LyondellBasell Industries by 15.1% in the second quarter. BKD Wealth Advisors LLC now owns 2,982 shares of the company’s stock worth $222,000 after buying an additional 391 shares during the period. Finally, SPC Financial Inc. raised its position in shares of LyondellBasell Industries by 14.8% in the second quarter. SPC Financial Inc. now owns 3,100 shares of the company’s stock worth $231,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 71.62% of the company’s stock.
LyondellBasell Industries (NYSE:LYB) traded down 3.15% during mid-day trading on Friday, reaching $81.44. 3,353,254 shares of the company traded hands. The stock has a market capitalization of $33.86 billion, a price-to-earnings ratio of 8.80 and a beta of 1.46. The company’s 50-day moving average is $78.77 and its 200-day moving average is $80.25. LyondellBasell Industries has a 12-month low of $69.10 and a 12-month high of $97.20.
LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, July 29th. The company reported $2.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.51 by $0.06. The firm earned $7.33 billion during the quarter, compared to analysts’ expectations of $7.64 billion. LyondellBasell Industries had a return on equity of 66.25% and a net margin of 13.91%. The firm’s quarterly revenue was down 19.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.81 EPS. Equities analysts predict that LyondellBasell Industries will post $9.61 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on the stock. Jefferies Group reiterated a “hold” rating and issued a $84.00 price objective (down previously from $91.00) on shares of LyondellBasell Industries in a report on Tuesday, July 5th. Nomura restated a “hold” rating on shares of LyondellBasell Industries in a report on Monday, July 11th. RBC Capital Markets restated a “hold” rating and set a $82.00 price target on shares of LyondellBasell Industries in a report on Tuesday, September 20th. Argus restated a “hold” rating on shares of LyondellBasell Industries in a report on Thursday, August 18th. Finally, Zacks Investment Research upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $89.87.
In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 3,750 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $80.01, for a total value of $300,037.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is owned by company insiders.
LyondellBasell Industries Company Profile
LyondellBasell Industries N.V. is a global chemical company. The Company’s segments include Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining, and Technology. Its O&P-Americas segment produces and markets olefins, including ethylene and ethylene co-products, and polyolefins.
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