Sumitomo Mitsui Asset Management Company LTD decreased its stake in LyondellBasell Industries (NYSE:LYB) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,302 shares of the company’s stock after selling 133 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in LyondellBasell Industries were worth $2,282,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the company. Pinkerton Retirement Specialists LLC bought a new stake in LyondellBasell Industries during the second quarter valued at about $103,000. Pacer Advisors Inc. increased its stake in LyondellBasell Industries by 321.5% in the second quarter. Pacer Advisors Inc. now owns 1,492 shares of the company’s stock valued at $111,000 after buying an additional 1,138 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in LyondellBasell Industries during the second quarter valued at about $129,000. Edge Wealth Management LLC bought a new stake in LyondellBasell Industries during the third quarter valued at about $129,000. Finally, MU Investments Co. Ltd. bought a new stake in LyondellBasell Industries during the second quarter valued at about $159,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.
LyondellBasell Industries (NYSE:LYB) traded down 0.32% during midday trading on Thursday, hitting $89.76. The stock had a trading volume of 2,078,570 shares. The firm has a 50-day moving average price of $88.45 and a 200-day moving average price of $81.26. The firm has a market capitalization of $36.58 billion, a price-to-earnings ratio of 9.99 and a beta of 1.20. LyondellBasell Industries has a 1-year low of $69.82 and a 1-year high of $93.75.
LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $2.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.32 by $0.01. The company had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.48 billion. LyondellBasell Industries had a return on equity of 64.02% and a net margin of 13.57%. The firm’s revenue for the quarter was down 11.6% compared to the same quarter last year. During the same period last year, the firm earned $2.80 EPS. On average, equities research analysts anticipate that LyondellBasell Industries will post $9.32 earnings per share for the current year.
LYB has been the topic of several recent analyst reports. Zacks Investment Research upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Tuesday. Morgan Stanley set a $115.00 price objective on LyondellBasell Industries and gave the stock a “buy” rating in a report on Wednesday, September 28th. Tudor Pickering initiated coverage on LyondellBasell Industries in a report on Thursday, October 13th. They set a “buy” rating and a $95.00 price objective on the stock. Jefferies Group boosted their price objective on LyondellBasell Industries from $84.00 to $88.00 and gave the stock a “hold” rating in a report on Thursday, September 22nd. Finally, Cowen and Company reiterated a “market perform” rating and issued a $90.00 target price (up previously from $87.00) on shares of LyondellBasell Industries in a report on Thursday, December 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. LyondellBasell Industries presently has an average rating of “Hold” and a consensus price target of $90.27.
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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