Prospera Financial Services Inc lowered its position in LyondellBasell Industries NV (NYSE:LYB) by 25.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,559 shares of the specialty chemicals company’s stock after selling 893 shares during the period. Prospera Financial Services Inc’s holdings in LyondellBasell Industries NV were worth $213,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in LYB. Harbour Capital Advisors LLC acquired a new position in shares of LyondellBasell Industries NV during the first quarter worth approximately $107,000. TrimTabs Asset Management LLC boosted its position in shares of 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 worth $124,000 after buying an additional 640 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in shares of LyondellBasell Industries NV during the first quarter worth approximately $132,000. American Beacon Advisors Inc. acquired a new position in shares of LyondellBasell Industries NV during the first quarter worth approximately $161,000. Finally, Americafirst Capital Management LLC boosted its position in shares of 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 worth $199,000 after buying an additional 922 shares during the last quarter. 74.76% of the stock is currently owned by institutional investors.
Shares of LyondellBasell Industries NV (NYSE LYB) traded down 0.17% during midday trading on Tuesday, hitting $88.97. 992,164 shares of the company’s stock traded hands. The stock has a market cap of $35.21 billion, a P/E ratio of 9.93 and a beta of 1.06. LyondellBasell Industries NV has a 52 week low of $71.55 and a 52 week high of $97.64. The company has a 50 day moving average of $84.36 and a 200 day moving average of $86.92.
LyondellBasell Industries NV (NYSE:LYB) last issued its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.14. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.52 billion. During the same period last year, the company earned $2.56 earnings per share. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, equities analysts forecast that LyondellBasell Industries NV will post $9.89 EPS for the current fiscal year.
LyondellBasell Industries NV declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 24th that allows the company to buyback 1,000% of outstanding shares. This buyback authorization allows the specialty chemicals company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
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LYB has been the topic of a number of recent research reports. Bank of America Corporation cut shares of LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and cut their target price for the company from $98.00 to $70.00 in a report on Monday, May 8th. Vertical Research raised shares of LyondellBasell Industries NV from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a report on Tuesday, May 9th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $94.00 target price (up from $90.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. Zacks Investment Research cut shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $92.00 target price on shares of LyondellBasell Industries NV in a report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. LyondellBasell Industries NV currently has an average rating of “Hold” and an average target price of $94.81.
In other news, Director Jagjeet S. Bindra sold 3,224 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total transaction of $287,580.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by company insiders.
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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