World Asset Management Inc Trims Stock Holdings in LyondellBasell Industries (NYSE:LYB)

World Asset Management Inc reduced its stake in LyondellBasell Industries (NYSE:LYB) by 6.4% during the 3rd quarter, Holdings Channel reports. The fund owned 10,664 shares of the specialty chemicals company’s stock after selling 728 shares during the period. World Asset Management Inc’s holdings in LyondellBasell Industries were worth $1,001,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of LYB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of LyondellBasell Industries by 13.1% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 49,534 shares of the specialty chemicals company’s stock valued at $5,096,000 after acquiring an additional 5,725 shares in the last quarter. Rafferty Asset Management LLC lifted its position in shares of LyondellBasell Industries by 26.6% in the second quarter. Rafferty Asset Management LLC now owns 8,628 shares of the specialty chemicals company’s stock valued at $888,000 after acquiring an additional 1,811 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of LyondellBasell Industries by 102.2% in the second quarter. Toronto Dominion Bank now owns 228,101 shares of the specialty chemicals company’s stock valued at $23,465,000 after acquiring an additional 115,279 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in LyondellBasell Industries by 5.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 20,726 shares of the specialty chemicals company’s stock worth $2,132,000 after buying an additional 1,135 shares during the period. Finally, Principal Financial Group Inc. lifted its position in LyondellBasell Industries by 2.9% during the second quarter. Principal Financial Group Inc. now owns 321,095 shares of the specialty chemicals company’s stock worth $33,031,000 after buying an additional 9,034 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Shares of LyondellBasell Industries stock opened at $102.81 on Friday. The business’s fifty day moving average price is $92.01 and its two-hundred day moving average price is $95.75. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.89 and a quick ratio of 1.22. The company has a market capitalization of $34.21 billion, a P/E ratio of 6.01, a PEG ratio of 0.82 and a beta of 1.48. LyondellBasell Industries has a 1-year low of $84.06 and a 1-year high of $118.01.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, October 29th. The specialty chemicals company reported $5.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.78 by ($0.53). LyondellBasell Industries had a net margin of 13.92% and a return on equity of 57.51%. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.36 billion. During the same quarter last year, the business posted $1.27 earnings per share. The firm’s revenue for the quarter was up 87.4% compared to the same quarter last year. On average, research analysts expect that LyondellBasell Industries will post 18.59 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, December 6th. Investors of record on Monday, November 29th were issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend was Friday, November 26th. LyondellBasell Industries’s payout ratio is 26.42%.

Several equities analysts recently weighed in on LYB shares. HSBC upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $112.00 target price on the stock in a research report on Friday, December 10th. BMO Capital Markets reduced their target price on LyondellBasell Industries from $128.00 to $115.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 2nd. Citigroup dropped their price target on LyondellBasell Industries from $106.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, November 2nd. Mizuho initiated coverage on LyondellBasell Industries in a research note on Tuesday, October 12th. They set a “buy” rating and a $125.00 price target for the company. Finally, Wells Fargo & Company dropped their price target on LyondellBasell Industries from $127.00 to $120.00 and set an “overweight” rating for the company in a research note on Tuesday, November 2nd. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, LyondellBasell Industries presently has an average rating of “Buy” and an average price target of $106.88.

LyondellBasell Industries Company Profile

LyondellBasell Industries NV engages in the refinery and production of plastic resins and other chemicals. It operates through the following segments: Olefins and Polyolefins-Americas; Olefins and Polyolefins-Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.

Further Reading: Why do company’s buyback their stock?

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

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