State Board of Administration of Florida Retirement System cut its holdings in LyondellBasell Industries NV (NYSE:LYB) by 7.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 393,349 shares of the specialty chemicals company’s stock after selling 29,895 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in LyondellBasell Industries were worth $33,879,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Destination Wealth Management acquired a new position in LyondellBasell Industries in the first quarter valued at $28,000. Icon Wealth Partners LLC acquired a new position in LyondellBasell Industries in the first quarter valued at $35,000. Reilly Financial Advisors LLC increased its stake in LyondellBasell Industries by 89.4% in the second quarter. Reilly Financial Advisors LLC now owns 413 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 195 shares during the period. Enterprise Financial Services Corp increased its stake in shares of LyondellBasell Industries by 47.1% during the second quarter. Enterprise Financial Services Corp now owns 428 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 137 shares during the period. Finally, Barnett & Company Inc. acquired a new position in shares of LyondellBasell Industries during the second quarter worth about $43,000. Institutional investors own 74.54% of the company’s stock.
In other LyondellBasell Industries news, Director Jagjeet S. Bindra purchased 1,360 shares of LyondellBasell Industries stock in a transaction on Wednesday, August 14th. The shares were bought at an average price of $73.48 per share, with a total value of $99,932.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by insiders.
LYB has been the topic of a number of recent analyst reports. Alembic Global Advisors set a $120.00 price target on shares of LyondellBasell Industries and gave the stock a “buy” rating in a research note on Friday, April 26th. BMO Capital Markets dropped their price target on shares of LyondellBasell Industries from $90.00 to $88.00 and set a “market perform” rating on the stock in a research note on Monday, August 5th. Jefferies Financial Group boosted their price target on shares of LyondellBasell Industries from $99.00 to $104.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Deutsche Bank lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and dropped their price target for the stock from $100.00 to $94.00 in a research note on Monday, June 17th. Finally, UBS Group boosted their price target on shares of LyondellBasell Industries from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $102.18.
LYB stock traded up $0.55 during trading on Thursday, reaching $73.68. 136,605 shares of the company were exchanged, compared to its average volume of 2,520,558. The company has a market cap of $24.75 billion, a P/E ratio of 6.54, a PEG ratio of 0.81 and a beta of 1.31. LyondellBasell Industries NV has a 52-week low of $71.83 and a 52-week high of $116.63. The stock’s 50 day moving average price is $81.42 and its 200 day moving average price is $84.65. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.85 and a current ratio of 1.47.
LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.09). The company had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $9.26 billion. LyondellBasell Industries had a return on equity of 35.20% and a net margin of 9.83%. As a group, equities research analysts forecast that LyondellBasell Industries NV will post 10.27 EPS for the current year.
LyondellBasell Industries Profile
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; 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 and copolymers.
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