Washington Trust Bank Acquires 1,490 Shares of LyondellBasell Industries NV (LYB)

Washington Trust Bank raised its position in shares of LyondellBasell Industries NV (NYSE:LYB) by 53.9% during the second quarter, Holdings Channel reports. The institutional investor owned 4,254 shares of the specialty chemicals company’s stock after buying an additional 1,490 shares during the period. Washington Trust Bank’s holdings in LyondellBasell Industries NV were worth $359,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in LYB. FMR LLC increased its stake 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 in the last quarter. Vanguard Group Inc. increased its stake in shares of 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 worth $2,193,697,000 after buying an additional 587,985 shares in the last quarter. BlackRock Inc. increased its stake in shares of 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 worth $1,829,488,000 after buying an additional 19,121,769 shares in the last quarter. State Street Corp increased its stake in shares of 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 worth $1,410,047,000 after buying an additional 88,954 shares in the last quarter. Finally, American International Group Inc. increased its stake in shares of 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 worth $500,306,000 after buying an additional 86,029 shares in the last quarter. 72.81% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries NV (NYSE:LYB) traded down 0.17% during midday trading on Friday, hitting $86.87. 2,152,177 shares of the stock were exchanged. The firm has a market capitalization of $34.99 billion, a price-to-earnings ratio of 9.94 and a beta of 1.05. LyondellBasell Industries NV has a one year low of $71.55 and a one year high of $97.64. The company has a 50 day moving average price of $82.53 and a 200 day moving average price of $86.94.

LyondellBasell Industries NV (NYSE:LYB) last released its quarterly earnings data on Friday, April 28th. The specialty chemicals company reported $2.00 earnings per share for the quarter, missing the consensus estimate of $2.36 by $0.36. LyondellBasell Industries NV had a return on equity of 60.80% and a net margin of 11.67%. The firm had revenue of $8.43 billion for the quarter, compared to the consensus estimate of $7.59 billion. During the same period in the previous year, the business earned $2.48 EPS. The firm’s revenue was up 25.0% compared to the same quarter last year. Equities analysts anticipate that LyondellBasell Industries NV will post $9.72 EPS for the current year.

LyondellBasell Industries NV declared that its board has authorized a stock repurchase program on Wednesday, May 24th that permits the company to buyback 1,000% of outstanding shares. This buyback authorization permits the specialty chemicals company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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Several research firms have commented on LYB. Instinet decreased their target price on shares of LyondellBasell Industries NV from $91.00 to $90.00 and set a “neutral” rating for the company in a research report on Monday, May 1st. Citigroup Inc. restated an “overweight” rating on shares of LyondellBasell Industries NV in a research report on Friday, April 14th. Sanford C. Bernstein restated an “outperform” rating and issued a $110.00 target price on shares of LyondellBasell Industries NV in a research report on Wednesday, June 28th. Bank of America Corporation cut shares of LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $98.00 to $70.00 in a research report on Monday, May 8th. Finally, BidaskClub upgraded shares of LyondellBasell Industries NV from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. LyondellBasell Industries NV has a consensus rating of “Hold” and a consensus target price of $92.63.

About LyondellBasell Industries NV

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

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