Gradient Investments LLC raised its position in LyondellBasell Industries NV (NYSE:LYB) by 215.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,749 shares of the specialty chemicals company’s stock after buying an additional 5,977 shares during the period. Gradient Investments LLC’s holdings in LyondellBasell Industries NV were worth $738,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Highland Capital Management LLC increased its position in LyondellBasell Industries NV by 15.9% in the second quarter. Highland Capital Management LLC now owns 59,630 shares of the specialty chemicals company’s stock worth $5,032,000 after buying an additional 8,180 shares in the last quarter. Sit Investment Associates Inc. increased its position in LyondellBasell Industries NV by 10.5% in the second quarter. Sit Investment Associates Inc. now owns 204,246 shares of the specialty chemicals company’s stock worth $17,236,000 after buying an additional 19,396 shares in the last quarter. Bedrijfstakpensioenfonds Voor DE Media PNO increased its position in LyondellBasell Industries NV by 67.6% in the second quarter. Bedrijfstakpensioenfonds Voor DE Media PNO now owns 21,953 shares of the specialty chemicals company’s stock worth $1,853,000 after buying an additional 8,853 shares in the last quarter. First Quadrant L P CA increased its position in LyondellBasell Industries NV by 11.6% in the second quarter. First Quadrant L P CA now owns 342,861 shares of the specialty chemicals company’s stock worth $28,934,000 after buying an additional 35,668 shares in the last quarter. Finally, Beech Hill Advisors Inc. increased its position in LyondellBasell Industries NV by 53.8% in the second quarter. Beech Hill Advisors Inc. now owns 59,425 shares of the specialty chemicals company’s stock worth $5,015,000 after buying an additional 20,775 shares in the last quarter. Institutional investors own 73.27% of the company’s stock.
Shares of LyondellBasell Industries NV (NYSE:LYB) traded up 0.22% on Monday, hitting $90.09. 2,670,282 shares of the stock traded hands. The stock has a 50 day moving average price of $83.91 and a 200-day moving average price of $86.93. The stock has a market cap of $35.66 billion, a price-to-earnings ratio of 10.06 and a beta of 1.05. LyondellBasell Industries NV has a 52 week low of $71.55 and a 52 week high of $97.64.
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, beating the consensus estimate of $2.68 by $0.14. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.52 billion. During the same quarter in the previous year, the firm posted $2.56 earnings per share. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts forecast that LyondellBasell Industries NV will post $9.69 EPS for the current year.
LyondellBasell Industries NV announced that its board has initiated a stock repurchase plan on Wednesday, May 24th that allows the company to repurchase 1,000% of outstanding shares. This repurchase authorization allows the specialty chemicals company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
A number of equities analysts have recently commented on the stock. Deutsche Bank AG increased their price objective on shares of LyondellBasell Industries NV from $90.00 to $94.00 and gave the stock a “hold” rating in a research note on Monday. Zacks Investment Research downgraded shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research note on Thursday. Royal Bank Of Canada reiterated a “hold” rating and issued a $92.00 target price on shares of LyondellBasell Industries NV in a research note on Friday, July 14th. BidaskClub upgraded shares of LyondellBasell Industries NV from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $110.00 target price on shares of LyondellBasell Industries NV in a research note on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $93.21.
LyondellBasell Industries NV 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.
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