Columbia Partners L L C Investment Management lowered its position in LyondellBasell Industries NV (NYSE:LYB) by 0.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,620 shares of the specialty chemicals company’s stock after selling 59 shares during the period. Columbia Partners L L C Investment Management’s holdings in LyondellBasell Industries NV were worth $5,345,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in LYB. Harbour Capital Advisors LLC purchased a new stake in LyondellBasell Industries NV during the first quarter valued at $107,000. TrimTabs Asset Management LLC increased its stake in LyondellBasell Industries NV by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the specialty chemicals company’s stock valued at $124,000 after buying an additional 640 shares during the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in LyondellBasell Industries NV during the first quarter valued at $132,000. American Beacon Advisors Inc. purchased a new stake in LyondellBasell Industries NV during the first quarter valued at $161,000. Finally, Americafirst Capital Management LLC increased its stake in LyondellBasell Industries NV by 72.9% in the first quarter. Americafirst Capital Management LLC now owns 2,186 shares of the specialty chemicals company’s stock valued at $199,000 after buying an additional 922 shares during the last quarter. 74.76% of the stock is owned by institutional investors.
LyondellBasell Industries NV (LYB) traded down 0.44% during midday trading on Tuesday, reaching $88.73. The company had a trading volume of 2,375,219 shares. LyondellBasell Industries NV has a 52-week low of $74.02 and a 52-week high of $97.64. The company has a market capitalization of $35.12 billion, a P/E ratio of 9.91 and a beta of 1.06. The company’s 50 day moving average is $84.99 and its 200-day moving average is $86.96.
LyondellBasell Industries NV (NYSE:LYB) last posted its quarterly earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.14. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.52 billion. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.56 earnings per share. Equities analysts expect that LyondellBasell Industries NV will post $9.89 earnings per share for the current fiscal year.
LyondellBasell Industries NV declared that its board has authorized a stock repurchase program on Wednesday, May 24th that permits the company to buyback 1,000% of outstanding shares. This buyback authorization permits the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
Several research firms have recently weighed in on LYB. UBS AG reissued a “neutral” rating and issued a $85.00 target price (down from $94.00) on shares of LyondellBasell Industries NV in a report on Sunday, June 25th. BidaskClub downgraded LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Deutsche Bank AG reaffirmed a “buy” rating and set a $94.00 price objective (up from $90.00) on shares of LyondellBasell Industries NV in a research note on Monday, July 31st. Zacks Investment Research downgraded LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $92.00 price objective on shares of LyondellBasell Industries NV in a research note on Friday, July 14th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. LyondellBasell Industries NV has an average rating of “Hold” and a consensus price target of $94.81.
In other LyondellBasell Industries NV news, Director Jagjeet S. Bindra sold 3,224 shares of LyondellBasell Industries NV stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $89.20, for a total value of $287,580.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.
About LyondellBasell Industries NV
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.
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