Alps Advisors Inc. Has $48.66 Million Position in LyondellBasell Industries NV (LYB)
Alps Advisors Inc. boosted its position in shares of LyondellBasell Industries NV (NYSE:LYB) by 9.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 576,557 shares of the specialty chemicals company’s stock after buying an additional 47,634 shares during the period. Alps Advisors Inc.’s holdings in LyondellBasell Industries NV were worth $48,656,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of LYB. Harbour Capital Advisors LLC purchased a new stake in LyondellBasell Industries NV during the first quarter worth approximately $107,000. TrimTabs Asset Management LLC boosted its stake in LyondellBasell Industries NV by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 640 shares during the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in LyondellBasell Industries NV during the first quarter worth approximately $132,000. American Beacon Advisors Inc. purchased a new stake in LyondellBasell Industries NV during the first quarter worth approximately $161,000. Finally, Seven Bridges Advisors LLC boosted its stake in LyondellBasell Industries NV by 32.8% in the second quarter. Seven Bridges Advisors LLC now owns 1,936 shares of the specialty chemicals company’s stock worth $163,000 after buying an additional 478 shares during the last quarter. 74.23% of the stock is owned by institutional investors.
LyondellBasell Industries NV (NYSE LYB) traded up 0.19% during mid-day trading on Tuesday, reaching $88.20. 95,942 shares of the company traded hands. The stock’s 50 day moving average price is $86.35 and its 200 day moving average price is $86.71. The firm has a market capitalization of $34.91 billion, a price-to-earnings ratio of 9.85 and a beta of 1.06. LyondellBasell Industries NV has a 52 week low of $74.02 and a 52 week high of $97.64.
LyondellBasell Industries NV (NYSE:LYB) last posted its quarterly earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.68 by $0.14. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.52 billion. During the same quarter last year, the firm posted $2.56 earnings per share. LyondellBasell Industries NV’s revenue for the quarter was up 14.7% compared to the same quarter last year. Equities analysts forecast that LyondellBasell Industries NV will post $9.89 EPS for the current year.
LyondellBasell Industries NV declared that its board has approved a stock buyback plan on Wednesday, May 24th that allows the company to repurchase 1,000% of outstanding shares. This repurchase authorization allows the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
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A number of research analysts have issued reports on LYB shares. UBS AG reaffirmed a “neutral” rating and issued a $85.00 price target (down previously from $94.00) on shares of LyondellBasell Industries NV in a report on Sunday, June 25th. BidaskClub cut shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Deutsche Bank AG reaffirmed a “buy” rating and issued a $94.00 price target (up previously from $90.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $92.00 price target on shares of LyondellBasell Industries NV in a report on Friday, July 14th. Finally, Zacks Investment Research cut shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given 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 related news, Director Jagjeet S. Bindra sold 3,224 shares of the firm’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 SEC, which is available at this hyperlink. Company 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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