Arizona State Retirement System lowered its position in LyondellBasell Industries NV (NYSE:LYB) by 1.7% during the second quarter, Holdings Channel reports. The firm owned 108,616 shares of the specialty chemicals company’s stock after selling 1,900 shares during the period. Arizona State Retirement System’s holdings in LyondellBasell Industries NV were worth $9,166,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Oliver Luxxe Assets LLC increased its stake in shares of LyondellBasell Industries NV by 3.8% in the first quarter. Oliver Luxxe Assets LLC now owns 8,171 shares of the specialty chemicals company’s stock worth $745,000 after buying an additional 297 shares during the period. 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 during the period. Advisory Services Network LLC purchased a new stake in shares of LyondellBasell Industries NV during the first quarter worth approximately $1,746,000. 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 during the period. Finally, South Dakota Investment Council increased its stake in shares of LyondellBasell Industries NV by 1.7% in the first quarter. South Dakota Investment Council now owns 140,481 shares of the specialty chemicals company’s stock worth $12,810,000 after buying an additional 2,400 shares during the period. Institutional investors and hedge funds own 74.76% of the company’s stock.

Shares of LyondellBasell Industries NV (LYB) opened at 87.19 on Friday. The stock has a market capitalization of $34.51 billion, a P/E ratio of 9.73 and a beta of 1.06. LyondellBasell Industries NV has a 1-year low of $74.02 and a 1-year high of $97.64. The firm’s 50-day moving average is $86.13 and its 200 day moving average is $86.89.

LyondellBasell Industries NV (NYSE:LYB) last released its quarterly earnings data on Friday, July 28th. The specialty chemicals company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $8.52 billion. During the same quarter in the prior year, the company posted $2.56 earnings per share. The firm’s revenue was up 14.7% on a year-over-year basis. On average, analysts expect that LyondellBasell Industries NV will post $9.89 EPS for the current fiscal year.

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

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LYB has been the subject of a number of recent research reports. Bank of America Corporation downgraded shares of LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $98.00 to $70.00 in a report on Monday, May 8th. Vertical Research upgraded shares of LyondellBasell Industries NV from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a report on Tuesday, May 9th. Deutsche Bank AG reiterated a “buy” rating and set a $94.00 price target (up from $90.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. Zacks Investment Research downgraded shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, BidaskClub downgraded shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. The company 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 that occurred on Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total value of $287,580.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

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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