ZWJ Investment Counsel Inc. boosted its position in LyondellBasell Industries NV (NYSE:LYB) by 12.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 200,799 shares of the specialty chemicals company’s stock after buying an additional 22,547 shares during the quarter. ZWJ Investment Counsel Inc. owned approximately 0.06% of LyondellBasell Industries worth $17,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Phocas Financial Corp. purchased a new stake in LyondellBasell Industries in the second quarter worth $78,000. Coastal Investment Advisors Inc. grew its position in shares of LyondellBasell Industries by 58.0% in the second quarter. Coastal Investment Advisors Inc. now owns 4,041 shares of the specialty chemicals company’s stock valued at $349,000 after purchasing an additional 1,483 shares in the last quarter. Barnett & Company Inc. purchased a new position in shares of LyondellBasell Industries in the second quarter valued at $43,000. Ackerman Capital Advisors LLC purchased a new position in shares of LyondellBasell Industries in the second quarter valued at $172,260,000. Finally, Busey Wealth Management grew its position in shares of LyondellBasell Industries by 3.4% in the second quarter. Busey Wealth Management now owns 51,891 shares of the specialty chemicals company’s stock valued at $4,469,000 after purchasing an additional 1,718 shares in the last quarter. 75.88% of the stock is owned by institutional investors and hedge funds.
In other LyondellBasell Industries news, CEO Bhavesh V. Patel bought 7,246 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $68.85 per share, for a total transaction of $498,887.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ai Investments Holdings Llc bought 764,501 shares of LyondellBasell Industries stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $74.61 per share, with a total value of $57,039,419.61. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 773,107 shares of company stock valued at $57,638,240. 0.14% of the stock is owned by company insiders.
LyondellBasell Industries stock traded up $0.41 during midday trading on Wednesday, hitting $88.38. 86,000 shares of the company’s stock were exchanged, compared to its average volume of 2,080,859. LyondellBasell Industries NV has a 52-week low of $68.61 and a 52-week high of $96.94. The stock has a 50-day moving average price of $85.25 and a two-hundred day moving average price of $83.52. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.85 and a current ratio of 1.47. The company has a market cap of $29.50 billion, a P/E ratio of 7.85, a PEG ratio of 0.96 and a beta of 1.32.
LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.84 by ($0.09). LyondellBasell Industries had a return on equity of 35.20% and a net margin of 9.83%. The business had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $9.26 billion. As a group, sell-side analysts expect that LyondellBasell Industries NV will post 10.23 earnings per share for the current year.
Several equities analysts have recently weighed in on the company. ValuEngine upgraded LyondellBasell Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. UBS Group lifted their price target on LyondellBasell Industries from $87.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Citigroup lifted their price target on LyondellBasell Industries from $83.00 to $88.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Cowen lifted their price target on LyondellBasell Industries from $85.00 to $90.00 and gave the company a “market perform” rating in a research report on Thursday, September 26th. Finally, JPMorgan Chase & Co. assumed coverage on LyondellBasell Industries in a research report on Friday, July 19th. They issued an “underweight” rating and a $80.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $100.24.
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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