Algert Global LLC boosted its position in LyondellBasell Industries (NYSE:LYB) by 121.5% during the third quarter, Holdings Channel reports. The fund owned 13,580 shares of the company’s stock after buying an additional 7,449 shares during the period. Algert Global LLC’s holdings in LyondellBasell Industries were worth $1,095,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Pinkerton Retirement Specialists LLC bought a new stake in shares of LyondellBasell Industries during the second quarter valued at about $103,000. Americafirst Capital Management LLC bought a new stake in shares of LyondellBasell Industries during the second quarter valued at about $106,000. Pacer Advisors Inc. increased its stake in shares of LyondellBasell Industries by 321.5% in the second quarter. Pacer Advisors Inc. now owns 1,492 shares of the company’s stock valued at $111,000 after buying an additional 1,138 shares during the period. Exane Derivatives increased its stake in shares of LyondellBasell Industries by 103.6% in the second quarter. Exane Derivatives now owns 1,547 shares of the company’s stock valued at $115,000 after buying an additional 787 shares during the period. Finally, J.Safra Asset Management Corp bought a new stake in shares of LyondellBasell Industries during the second quarter valued at about $129,000. 71.63% of the stock is currently owned by institutional investors.
Shares of LyondellBasell Industries (NYSE:LYB) opened at 79.55 on Friday. LyondellBasell Industries has a one year low of $69.10 and a one year high of $98.25. The stock has a market cap of $33.07 billion, a PE ratio of 8.59 and a beta of 1.46. The company’s 50-day moving average price is $78.99 and its 200-day moving average price is $80.11.
LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, July 29th. The company reported $2.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.51 by $0.06. The company had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.64 billion. LyondellBasell Industries had a net margin of 13.91% and a return on equity of 66.25%. The firm’s quarterly revenue was down 19.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.81 EPS. Equities research analysts anticipate that LyondellBasell Industries will post $9.61 earnings per share for the current year.
LYB has been the subject of several recent research reports. Zacks Investment Research upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a report on Wednesday, October 5th. Susquehanna decreased their price target on LyondellBasell Industries from $100.00 to $96.00 and set a “positive” rating for the company in a report on Friday, August 26th. RBC Capital Markets reiterated a “hold” rating and set a $82.00 price target on shares of LyondellBasell Industries in a report on Tuesday, September 20th. Vetr downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $82.00 price objective for the company. in a research note on Monday, August 22nd. Finally, Nomura restated a “hold” rating on shares of LyondellBasell Industries in a research note on Monday, July 11th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. LyondellBasell Industries presently has a consensus rating of “Hold” and an average price target of $89.87.
In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 3,750 shares of LyondellBasell Industries stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $80.01, for a total transaction of $300,037.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.
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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