Public Employees Retirement Association of Colorado reduced its position in LyondellBasell Industries (NYSE:LYB) by 11.9% during the second quarter, Holdings Channel reports. The fund owned 76,851 shares of the company’s stock after selling 10,347 shares during the period. Public Employees Retirement Association of Colorado’s holdings in LyondellBasell Industries were worth $5,719,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC increased its stake in shares of LyondellBasell Industries by 0.3% in the second quarter. Checchi Capital Advisers LLC now owns 2,271 shares of the company’s stock valued at $169,000 after buying an additional 7 shares during the last quarter. FirstMerit Bank N A Trustee increased its position in shares of LyondellBasell Industries by 0.6% in the second quarter. FirstMerit Bank N A Trustee now owns 5,049 shares of the company’s stock worth $376,000 after buying an additional 28 shares in the last quarter. Bremer Trust National Association increased its position in shares of LyondellBasell Industries by 0.8% in the second quarter. Bremer Trust National Association now owns 4,053 shares of the company’s stock worth $302,000 after buying an additional 33 shares in the last quarter. Cypress Capital Group increased its position in shares of LyondellBasell Industries by 0.4% in the first quarter. Cypress Capital Group now owns 8,160 shares of the company’s stock worth $698,000 after buying an additional 35 shares in the last quarter. Finally, Eagle Ridge Investment Management increased its position in shares of LyondellBasell Industries by 0.6% in the second quarter. Eagle Ridge Investment Management now owns 8,615 shares of the company’s stock worth $641,000 after buying an additional 53 shares in the last quarter. Institutional investors own 71.63% of the company’s stock.
Shares of LyondellBasell Industries (NYSE:LYB) traded up 0.82% on Tuesday, hitting $80.18. The stock had a trading volume of 4,162,352 shares. The company has a market cap of $33.33 billion, a P/E ratio of 8.66 and a beta of 1.46. LyondellBasell Industries has a 12 month low of $69.10 and a 12 month high of $97.20. The company’s 50 day moving average price is $79.01 and its 200-day moving average price is $79.94.
LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, July 29th. The company reported $2.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.51 by $0.06. The firm had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.64 billion. LyondellBasell Industries had a net margin of 13.91% and a return on equity of 66.25%. The company’s revenue for the quarter was down 19.9% on a year-over-year basis. During the same period last year, the firm earned $2.81 earnings per share. On average, analysts expect that LyondellBasell Industries will post $9.61 earnings per share for the current year.
A number of equities analysts recently commented on LYB shares. Zacks Investment Research upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a report on Wednesday, October 5th. Susquehanna decreased their target price 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 restated a “hold” rating and set a $82.00 target price 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 target price for the company. in a report on Monday, August 22nd. Finally, Tudor Pickering started coverage on LyondellBasell Industries in a report on Thursday, October 13th. They set a “buy” rating and a $95.00 target price for the company. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $90.19.
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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.
LyondellBasell Industries Company Profile
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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