Sompo Japan Nipponkoa Asset Management CO. LTD. trimmed its holdings in shares of LyondellBasell Industries NV (NYSE:LYB) by 12.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,870 shares of the specialty chemicals company’s stock after selling 2,330 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in LyondellBasell Industries were worth $1,729,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Gryphon Financial Partners LLC increased its holdings in LyondellBasell Industries by 3.1% during the 3rd quarter. Gryphon Financial Partners LLC now owns 19,042 shares of the specialty chemicals company’s stock valued at $1,952,000 after purchasing an additional 575 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in LyondellBasell Industries during the 3rd quarter valued at $189,804,000. Regal Investment Advisors LLC increased its holdings in LyondellBasell Industries by 33.9% during the 3rd quarter. Regal Investment Advisors LLC now owns 2,877 shares of the specialty chemicals company’s stock valued at $295,000 after purchasing an additional 728 shares in the last quarter. FTB Advisors Inc. increased its holdings in LyondellBasell Industries by 0.8% during the 3rd quarter. FTB Advisors Inc. now owns 67,009 shares of the specialty chemicals company’s stock valued at $7,692,000 after purchasing an additional 557 shares in the last quarter. Finally, Brookstone Capital Management increased its holdings in LyondellBasell Industries by 1.9% during the 3rd quarter. Brookstone Capital Management now owns 43,895 shares of the specialty chemicals company’s stock valued at $4,500,000 after purchasing an additional 813 shares in the last quarter. 72.28% of the stock is owned by hedge funds and other institutional investors.
NYSE LYB opened at $95.35 on Friday. The firm has a market capitalization of $36.48 billion, a PE ratio of 9.36, a PEG ratio of 0.85 and a beta of 1.24. LyondellBasell Industries NV has a 52 week low of $85.60 and a 52 week high of $121.95. The company has a quick ratio of 1.09, a current ratio of 1.82 and a debt-to-equity ratio of 0.67.
LyondellBasell Industries (NYSE:LYB) last released its earnings results on Tuesday, October 30th. The specialty chemicals company reported $2.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.68 by $0.28. The company had revenue of $10.16 billion during the quarter, compared to analysts’ expectations of $9.95 billion. LyondellBasell Industries had a return on equity of 47.35% and a net margin of 15.01%. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period last year, the firm earned $2.67 EPS. As a group, equities research analysts expect that LyondellBasell Industries NV will post 11.89 EPS for the current year.
In other news, major shareholder Ai Investments Holdings Llc bought 1,602,455 shares of the stock in a transaction dated Thursday, November 8th. The stock was bought at an average cost of $95.65 per share, with a total value of $153,274,820.75. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders bought a total of 2,209,263 shares of company stock valued at $209,013,494 over the last three months. Insiders own 0.09% of the company’s stock.
A number of equities research analysts recently weighed in on LYB shares. Zacks Investment Research cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Monday, October 8th. Cowen dropped their price target on LyondellBasell Industries from $113.00 to $103.00 and set a “market perform” rating for the company in a report on Friday, September 7th. JPMorgan Chase & Co. cut LyondellBasell Industries from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $110.00 to $95.00 in a report on Wednesday, September 19th. Citigroup cut LyondellBasell Industries from a “buy” rating to a “neutral” rating and dropped their price target for the company from $125.00 to $109.00 in a report on Monday, September 17th. Finally, ValuEngine cut LyondellBasell Industries from a “hold” rating to a “sell” rating in a report on Wednesday, October 17th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $117.70.
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About LyondellBasell Industries
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in five segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers, copolymers, and compounds.
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