The State of Wisconsin Investment Board Sells 9,050 Shares of LyondellBasell Industries (LYB)

The State of Wisconsin Investment Board Sells 9,050 Shares of LyondellBasell Industries (LYB)

State of Wisconsin Investment Board cut its stake in LyondellBasell Industries (NYSE:LYB) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 368,650 shares of the company’s stock after selling 9,050 shares during the period. State of Wisconsin Investment Board owned approximately 0.09% of LyondellBasell Industries worth $29,735,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Smith Salley & Associates raised its position in shares of LyondellBasell Industries by 0.9% in the second quarter. Smith Salley & Associates now owns 50,837 shares of the company’s stock valued at $3,783,000 after buying an additional 438 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new position in shares of LyondellBasell Industries during the second quarter valued at about $257,000. Northern Capital Management LLC raised its position in shares of LyondellBasell Industries by 26.0% in the second quarter. Northern Capital Management LLC now owns 17,110 shares of the company’s stock valued at $1,273,000 after buying an additional 3,535 shares during the last quarter. First National Trust Co. raised its position in shares of LyondellBasell Industries by 3.4% in the second quarter. First National Trust Co. now owns 38,217 shares of the company’s stock valued at $2,845,000 after buying an additional 1,256 shares during the last quarter. Finally, Alps Advisors Inc. raised its position in shares of LyondellBasell Industries by 31.3% in the second quarter. Alps Advisors Inc. now owns 327,790 shares of the company’s stock valued at $24,394,000 after buying an additional 78,098 shares during the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.

Shares of LyondellBasell Industries (NYSE:LYB) opened at 90.05 on Thursday. The company’s 50 day moving average price is $88.45 and its 200-day moving average price is $81.26. The company has a market capitalization of $36.70 billion, a price-to-earnings ratio of 10.02 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 consensus estimate of $2.32 by $0.01. The company earned $7.37 billion during the quarter, compared to analysts’ expectations of $7.48 billion. LyondellBasell Industries had a return on equity of 64.02% and a net margin of 13.57%. The business’s quarterly revenue was down 11.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.80 EPS. On average, equities analysts forecast that LyondellBasell Industries will post $9.32 earnings per share for the current year.

A number of research analysts have recently weighed in on LYB shares. Zacks Investment Research upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Tuesday. Cowen and Company restated 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. Morgan Stanley set a $115.00 target price on LyondellBasell Industries and gave the company a “buy” rating in a report on Wednesday, September 28th. Tudor Pickering started coverage on LyondellBasell Industries in a report on Thursday, October 13th. They issued a “buy” rating and a $95.00 target price on the stock. Finally, Jefferies Group raised their target price on LyondellBasell Industries from $84.00 to $88.00 and gave the company a “hold” rating in a report on Thursday, September 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $90.27.

About LyondellBasell Industries

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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