Wells Fargo & Company MN decreased its holdings in shares of LyondellBasell Industries NV (NYSE:LYB) by 1.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,650,095 shares of the specialty chemicals company’s stock after selling 31,700 shares during the period. Wells Fargo & Company MN’s holdings in LyondellBasell Industries were worth $169,152,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of LYB. Wetherby Asset Management Inc. increased its position in shares of LyondellBasell Industries by 8.2% in the 2nd quarter. Wetherby Asset Management Inc. now owns 6,529 shares of the specialty chemicals company’s stock valued at $717,000 after buying an additional 496 shares in the last quarter. BB&T Securities LLC increased its position in shares of LyondellBasell Industries by 1.3% in the 2nd quarter. BB&T Securities LLC now owns 38,479 shares of the specialty chemicals company’s stock valued at $4,227,000 after buying an additional 497 shares in the last quarter. Belpointe Asset Management LLC increased its position in shares of LyondellBasell Industries by 10.7% in the 2nd quarter. Belpointe Asset Management LLC now owns 5,327 shares of the specialty chemicals company’s stock valued at $585,000 after buying an additional 516 shares in the last quarter. Bailard Inc. increased its position in shares of LyondellBasell Industries by 17.0% in the 2nd quarter. Bailard Inc. now owns 3,646 shares of the specialty chemicals company’s stock valued at $401,000 after buying an additional 531 shares in the last quarter. Finally, Daiwa SB Investments Ltd. increased its position in shares of LyondellBasell Industries by 36.0% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 2,040 shares of the specialty chemicals company’s stock valued at $224,000 after buying an additional 540 shares in the last quarter. Institutional investors own 72.28% of the company’s stock.
In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc acquired 131,870 shares of LyondellBasell Industries stock in a transaction dated Monday, November 5th. The stock was bought at an average cost of $93.10 per share, for a total transaction of $12,277,097.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have bought 2,209,263 shares of company stock valued at $209,013,494. Company insiders own 0.09% of the company’s stock.
LYB stock opened at $96.06 on Friday. The stock has a market cap of $37.16 billion, a price-to-earnings ratio of 9.39, a PEG ratio of 0.86 and a beta of 1.24. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.82 and a quick ratio of 1.09. LyondellBasell Industries NV has a 1 year low of $85.60 and a 1 year high of $121.95.
LyondellBasell Industries (NYSE:LYB) last released its earnings results on Tuesday, October 30th. The specialty chemicals company reported $2.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.68 by $0.28. The firm 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 company’s revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.67 EPS. As a group, sell-side analysts forecast that LyondellBasell Industries NV will post 11.89 earnings per share for the current year.
A number of research firms recently commented on LYB. Zacks Investment Research cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. BMO Capital Markets upped their price objective on shares of LyondellBasell Industries from $111.00 to $112.00 and gave the company a “market perform” rating in a research report on Tuesday, August 7th. Cowen upped their price objective on shares of LyondellBasell Industries from $110.00 to $113.00 and gave the company a “market perform” rating in a research report on Friday, August 10th. BNP Paribas initiated coverage on LyondellBasell Industries in a report on Tuesday, October 2nd. They set an “outperform” rating and a $129.00 target price for the company. Finally, Standpoint Research upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $117.70.
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LyondellBasell Industries Profile
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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