LyondellBasell Industries NV (LYB) Position Increased by State of Wisconsin Investment Board

State of Wisconsin Investment Board boosted its stake in shares of LyondellBasell Industries NV (NYSE:LYB) by 25.5% during the second quarter, Holdings Channel reports. The fund owned 470,409 shares of the specialty chemicals company’s stock after buying an additional 95,440 shares during the period. State of Wisconsin Investment Board’s holdings in LyondellBasell Industries NV were worth $39,698,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Biltmore Wealth Management LLC raised its position in LyondellBasell Industries NV by 0.4% in the first quarter. Biltmore Wealth Management LLC now owns 8,405 shares of the specialty chemicals company’s stock valued at $766,000 after buying an additional 30 shares during the last quarter. First Heartland Consultants Inc. raised its position in LyondellBasell Industries NV by 1.9% in the first quarter. First Heartland Consultants Inc. now owns 2,500 shares of the specialty chemicals company’s stock valued at $228,000 after buying an additional 47 shares during the last quarter. Glenview Trust Co raised its position in LyondellBasell Industries NV by 0.5% in the first quarter. Glenview Trust Co now owns 14,001 shares of the specialty chemicals company’s stock valued at $1,277,000 after buying an additional 75 shares during the last quarter. CAPROCK Group Inc. raised its position in LyondellBasell Industries NV by 1.0% in the second quarter. CAPROCK Group Inc. now owns 8,338 shares of the specialty chemicals company’s stock valued at $704,000 after buying an additional 79 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its position in LyondellBasell Industries NV by 1.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 9,238 shares of the specialty chemicals company’s stock valued at $788,000 after buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 74.23% of the company’s stock.

LyondellBasell Industries NV (NYSE:LYB) opened at 87.95 on Wednesday. The stock’s 50 day moving average is $86.56 and its 200-day moving average is $86.65. LyondellBasell Industries NV has a 52-week low of $74.02 and a 52-week high of $97.64. The company has a market capitalization of $34.81 billion, a P/E ratio of 9.82 and a beta of 1.06.

LyondellBasell Industries NV (NYSE:LYB) last announced its 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. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.52 billion. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.56 earnings per share. Analysts predict that LyondellBasell Industries NV will post $9.89 EPS for the current fiscal year.

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

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Several research firms recently issued reports on LYB. UBS AG restated a “neutral” rating and issued a $85.00 target price (down previously from $94.00) on shares of LyondellBasell Industries NV in a report on Sunday, June 25th. Sanford C. Bernstein reiterated an “outperform” rating and set a $110.00 price objective on shares of LyondellBasell Industries NV in a report on Wednesday, June 28th. BidaskClub upgraded shares of LyondellBasell Industries NV from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. HSBC Holdings plc initiated coverage on shares of LyondellBasell Industries NV in a report on Monday, June 26th. They set a “buy” rating and a $101.00 price objective on the stock. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $88.00 price objective on shares of LyondellBasell Industries NV in a report on Friday, June 16th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. LyondellBasell Industries NV currently has an average rating of “Hold” and an average price target of $94.81.

In other LyondellBasell Industries NV news, Director Jagjeet S. Bindra sold 3,224 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $89.20, for a total value of $287,580.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.14% 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.

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

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