First Midwest Bank Trust Division reduced its position in LyondellBasell Industries NV (NYSE:LYB) by 14.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,480 shares of the specialty chemicals company’s stock after selling 3,220 shares during the period. First Midwest Bank Trust Division’s holdings in LyondellBasell Industries NV were worth $1,559,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Cue Financial Group Inc. raised its stake in LyondellBasell Industries NV by 8.9% in the second quarter. Cue Financial Group Inc. now owns 9,020 shares of the specialty chemicals company’s stock worth $761,000 after buying an additional 735 shares during the period. E&G Advisors LP raised its stake in LyondellBasell Industries NV by 26.7% in the second quarter. E&G Advisors LP now owns 7,126 shares of the specialty chemicals company’s stock worth $601,000 after buying an additional 1,500 shares during the period. Breton Hill Capital Ltd. raised its stake in LyondellBasell Industries NV by 23.2% in the second quarter. Breton Hill Capital Ltd. now owns 128,888 shares of the specialty chemicals company’s stock worth $10,877,000 after buying an additional 24,265 shares during the period. PGGM Investments raised its stake in LyondellBasell Industries NV by 1.8% in the second quarter. PGGM Investments now owns 591,370 shares of the specialty chemicals company’s stock worth $49,906,000 after buying an additional 10,368 shares during the period. Finally, Osborne Partners Capital Management LLC raised its stake in LyondellBasell Industries NV by 52.0% in the second quarter. Osborne Partners Capital Management LLC now owns 110,219 shares of the specialty chemicals company’s stock worth $9,301,000 after buying an additional 37,723 shares during the period. 73.27% of the stock is currently owned by institutional investors.
LyondellBasell Industries NV (NYSE:LYB) opened at 86.53 on Friday. LyondellBasell Industries NV has a 1-year low of $71.55 and a 1-year high of $97.64. The stock’s 50 day moving average is $83.62 and its 200-day moving average is $86.91. The company has a market capitalization of $34.85 billion, a P/E ratio of 9.90 and a beta of 1.05.
LyondellBasell Industries NV (NYSE:LYB) last released its earnings results on Friday, April 28th. The specialty chemicals company reported $2.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.36 by $0.36. LyondellBasell Industries NV had a return on equity of 60.80% and a net margin of 11.67%. The company had revenue of $8.43 billion during the quarter, compared to analyst estimates of $7.59 billion. During the same period in the prior year, the business posted $2.48 earnings per share. LyondellBasell Industries NV’s revenue was up 25.0% on a year-over-year basis. On average, analysts expect that LyondellBasell Industries NV will post $9.69 earnings per share for the current fiscal year.
LyondellBasell Industries NV announced that its board has initiated a stock buyback program on Wednesday, May 24th that authorizes the company to repurchase 1,000% of outstanding shares. This repurchase authorization authorizes the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
A number of research firms recently weighed in on LYB. Zacks Investment Research lowered shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research report on Thursday. Royal Bank Of Canada reaffirmed a “hold” rating and set a $92.00 target price on shares of LyondellBasell Industries NV in a research report on Friday, July 14th. BidaskClub raised shares of LyondellBasell Industries NV from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $110.00 target price on shares of LyondellBasell Industries NV in a research report on Wednesday, June 28th. Finally, HSBC Holdings plc assumed coverage on shares of LyondellBasell Industries NV in a research report on Monday, June 26th. They set a “buy” rating and a $101.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. LyondellBasell Industries NV currently has a consensus rating of “Hold” and a consensus price target of $92.63.
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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