Sit Investment Associates Inc. Reduces Stake in LyondellBasell Industries NV (LYB)

Sit Investment Associates Inc. decreased its holdings in LyondellBasell Industries NV (NYSE:LYB) by 18.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 130,955 shares of the specialty chemicals company’s stock after selling 29,270 shares during the quarter. Sit Investment Associates Inc.’s holdings in LyondellBasell Industries were worth $14,447,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Franklin Resources Inc. boosted its stake in LyondellBasell Industries by 15.6% in the 2nd quarter. Franklin Resources Inc. now owns 809,961 shares of the specialty chemicals company’s stock worth $68,335,000 after purchasing an additional 109,436 shares during the period. Alliancebernstein L.P. boosted its stake in LyondellBasell Industries by 1.4% in the 2nd quarter. Alliancebernstein L.P. now owns 861,498 shares of the specialty chemicals company’s stock worth $72,702,000 after purchasing an additional 11,951 shares during the period. Financial Counselors Inc. boosted its stake in LyondellBasell Industries by 2.5% in the 2nd quarter. Financial Counselors Inc. now owns 3,865 shares of the specialty chemicals company’s stock worth $326,000 after purchasing an additional 94 shares during the period. Riverhead Capital Management LLC boosted its stake in LyondellBasell Industries by 5.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 32,815 shares of the specialty chemicals company’s stock worth $2,769,000 after purchasing an additional 1,736 shares during the period. Finally, Fiera Capital Corp boosted its stake in LyondellBasell Industries by 2.5% in the 2nd quarter. Fiera Capital Corp now owns 3,827 shares of the specialty chemicals company’s stock worth $323,000 after purchasing an additional 94 shares during the period. Hedge funds and other institutional investors own 74.09% of the company’s stock.

A number of equities analysts recently commented on LYB shares. Cowen reaffirmed a “hold” rating and issued a $90.00 price objective on shares of LyondellBasell Industries in a research note on Wednesday, October 4th. Morgan Stanley set a $115.00 target price on shares of LyondellBasell Industries and gave the company a “buy” rating in a research note on Saturday, December 2nd. Citigroup raised shares of LyondellBasell Industries from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Monday, December 18th. UBS Group lifted their target price on shares of LyondellBasell Industries from $96.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Finally, Zacks Investment Research raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Thursday, October 12th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $103.74.

In related news, Director Jagjeet S. Bindra sold 1,574 shares of LyondellBasell Industries stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $103.73, for a total value of $163,271.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is currently owned by insiders.

Shares of LyondellBasell Industries NV (LYB) opened at $116.88 on Thursday. The company has a quick ratio of 1.49, a current ratio of 2.40 and a debt-to-equity ratio of 1.16. LyondellBasell Industries NV has a 52 week low of $78.01 and a 52 week high of $118.13. The stock has a market cap of $46,100.00, a price-to-earnings ratio of 12.46, a P/E/G ratio of 1.36 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, October 27th. The specialty chemicals company reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.02). LyondellBasell Industries had a net margin of 11.32% and a return on equity of 58.13%. research analysts forecast that LyondellBasell Industries NV will post 9.96 earnings per share for the current year.

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LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.

Institutional Ownership by Quarter for LyondellBasell Industries (NYSE:LYB)

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