National Planning Corp decreased its position in LyondellBasell Industries NV (NYSE:LYB) by 3.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,953 shares of the specialty chemicals company’s stock after selling 561 shares during the period. National Planning Corp’s holdings in LyondellBasell Industries NV were worth $1,532,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the company. FMR LLC increased its position in shares of LyondellBasell Industries NV by 20.7% in the first quarter. FMR LLC now owns 29,128,736 shares of the specialty chemicals company’s stock worth $2,656,249,000 after buying an additional 4,990,465 shares during the last quarter. Vanguard Group Inc. boosted its stake in LyondellBasell Industries NV by 2.5% in the first quarter. Vanguard Group Inc. now owns 24,056,326 shares of the specialty chemicals company’s stock valued at $2,193,697,000 after buying an additional 587,985 shares during the period. BlackRock Inc. boosted its stake in LyondellBasell Industries NV by 2,032.9% in the first quarter. BlackRock Inc. now owns 20,062,376 shares of the specialty chemicals company’s stock valued at $1,829,488,000 after buying an additional 19,121,769 shares during the period. State Street Corp boosted its stake in LyondellBasell Industries NV by 0.6% in the first quarter. State Street Corp now owns 15,462,749 shares of the specialty chemicals company’s stock valued at $1,410,047,000 after buying an additional 88,954 shares during the period. Finally, American International Group Inc. boosted its stake in LyondellBasell Industries NV by 1.6% in the first quarter. American International Group Inc. now owns 5,486,417 shares of the specialty chemicals company’s stock valued at $500,306,000 after buying an additional 86,029 shares during the period. Hedge funds and other institutional investors own 74.76% of the company’s stock.
LyondellBasell Industries NV (NYSE:LYB) opened at 87.60 on Friday. The company has a 50-day moving average price of $85.92 and a 200-day moving average price of $86.92. The stock has a market capitalization of $34.67 billion, a price-to-earnings ratio of 9.78 and a beta of 1.06. LyondellBasell Industries NV has a 12-month low of $74.02 and a 12-month high of $97.64.
LyondellBasell Industries NV (NYSE:LYB) last announced 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 return on equity of 60.87% and a net margin of 11.40%. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.52 billion. During the same period in the prior year, the firm earned $2.56 EPS. The firm’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 $9.89 earnings per share for the current year.
LyondellBasell Industries NV announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 24th that authorizes the company to repurchase 1,000% of shares. This repurchase authorization authorizes the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
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LYB has been the subject of several recent analyst reports. Instinet cut their target price on LyondellBasell Industries NV from $91.00 to $90.00 and set a “neutral” rating for the company in a research note on Monday, May 1st. UBS AG reissued a “neutral” rating and set a $88.00 target price (up previously from $85.00) on shares of LyondellBasell Industries NV in a research note on Monday, July 31st. Zacks Investment Research cut LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Citigroup Inc. reissued an “overweight” rating on shares of LyondellBasell Industries NV in a research note on Friday, April 14th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $110.00 target price on shares of LyondellBasell Industries NV in a research note on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $94.81.
In related news, Director Jagjeet S. Bindra sold 3,224 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total value of $287,580.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by corporate 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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