Banque Pictet & Cie SA Cuts Stake in LyondellBasell Industries NV (LYB)

Banque Pictet & Cie SA lessened its holdings in LyondellBasell Industries NV (NYSE:LYB) by 31.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 414,072 shares of the specialty chemicals company’s stock after selling 185,916 shares during the period. LyondellBasell Industries NV comprises approximately 0.9% of Banque Pictet & Cie SA’s holdings, making the stock its 25th biggest holding. Banque Pictet & Cie SA owned about 0.10% of LyondellBasell Industries NV worth $41,014,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. FMR LLC raised its stake in shares of LyondellBasell Industries NV by 2.8% in the 2nd quarter. FMR LLC now owns 29,950,127 shares of the specialty chemicals company’s stock valued at $2,527,492,000 after acquiring an additional 821,391 shares during the period. Vanguard Group Inc. raised its stake in shares of LyondellBasell Industries NV by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 24,529,455 shares of the specialty chemicals company’s stock valued at $2,070,041,000 after acquiring an additional 473,129 shares during the period. BlackRock Inc. raised its stake in shares of LyondellBasell Industries NV by 11.6% in the 2nd quarter. BlackRock Inc. now owns 22,389,726 shares of the specialty chemicals company’s stock valued at $1,889,470,000 after acquiring an additional 2,327,350 shares during the period. Capital World Investors grew its holdings in LyondellBasell Industries NV by 23.0% during the 2nd quarter. Capital World Investors now owns 19,562,100 shares of the specialty chemicals company’s stock valued at $1,650,846,000 after purchasing an additional 3,651,750 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in LyondellBasell Industries NV by 19.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,591,551 shares of the specialty chemicals company’s stock valued at $652,840,000 after purchasing an additional 1,069,625 shares in the last quarter. 74.58% of the stock is currently owned by institutional investors and hedge funds.

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LyondellBasell Industries NV (NYSE LYB) traded up $0.83 during midday trading on Friday, hitting $104.03. 685,849 shares of the stock traded hands, compared to its average volume of 2,340,000. The firm has a market cap of $41,040.00, a price-to-earnings ratio of 10.60, a PEG ratio of 1.14 and a beta of 1.08. LyondellBasell Industries NV has a 1-year low of $78.01 and a 1-year high of $107.83. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.40 and a quick ratio of 1.49.

A number of equities research analysts recently weighed in on LYB shares. BidaskClub lowered shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Cowen and Company reaffirmed a “hold” rating and set a $90.00 price target on shares of LyondellBasell Industries NV in a report on Wednesday, October 4th. Deutsche Bank AG reaffirmed a “buy” rating and set a $94.00 price target (up from $90.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. Zacks Investment Research lowered shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, UBS AG raised their price target on shares of LyondellBasell Industries NV from $96.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $99.56.

In related news, Director Jagjeet S. Bindra sold 1,574 shares of LyondellBasell Industries NV stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $103.73, for a total value of $163,271.02. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.09% of the company’s stock.

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.

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

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