LyondellBasell Industries NV (LYB) Position Reduced by Sei Investments Co.
Sei Investments Co. cut its stake in shares of LyondellBasell Industries NV (NYSE:LYB) by 12.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 100,188 shares of the specialty chemicals company’s stock after selling 13,756 shares during the period. Sei Investments Co.’s holdings in LyondellBasell Industries NV were worth $8,455,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in 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 valued at $1,829,488,000 after buying an additional 19,121,769 shares during the period. FMR LLC boosted its stake in 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 valued at $2,656,249,000 after buying an additional 4,990,465 shares during the period. Beutel Goodman & Co Ltd. bought a new stake in LyondellBasell Industries NV during the second quarter valued at $102,907,000. Schroder Investment Management Group boosted its stake in LyondellBasell Industries NV by 31.8% in the first quarter. Schroder Investment Management Group now owns 3,082,478 shares of the specialty chemicals company’s stock valued at $281,337,000 after buying an additional 743,569 shares during the period. Finally, Vanguard Group Inc. boosted its stake in 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 valued at $2,193,697,000 after buying an additional 587,985 shares during the period. Institutional investors and hedge funds own 74.76% of the company’s stock.
LyondellBasell Industries NV (NYSE:LYB) opened at 87.19 on Friday. LyondellBasell Industries NV has a 52 week low of $74.02 and a 52 week high of $97.64. The company has a 50-day moving average of $86.13 and a 200-day moving average of $86.89. The company has a market cap of $34.51 billion, a PE ratio of 9.73 and a beta of 1.06.
LyondellBasell Industries NV (NYSE:LYB) last issued its quarterly earnings data on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share for the quarter, beating 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 company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.52 billion. During the same quarter last year, the company earned $2.56 earnings per share. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities analysts expect that LyondellBasell Industries NV will post $9.89 EPS for the current year.
LyondellBasell Industries NV announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 24th that authorizes the company to buyback 1,000% of outstanding shares. This buyback authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
LYB has been the topic of several recent analyst reports. Bank of America Corporation cut shares of LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and cut their price target for the company 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 target price on the stock in a report on Tuesday, May 9th. Instinet dropped their target price on shares of LyondellBasell Industries NV from $91.00 to $90.00 and set a “neutral” rating on the stock in a report on Monday, May 1st. Sanford C. Bernstein restated an “outperform” rating and set a $110.00 target price on shares of LyondellBasell Industries NV in a report on Wednesday, June 28th. Finally, HSBC Holdings plc assumed coverage on shares of LyondellBasell Industries NV in a report on Monday, June 26th. They set a “buy” rating and a $101.00 target price on the stock. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $94.81.
In related news, Director Jagjeet S. Bindra sold 3,224 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total transaction of $287,580.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by company insiders.
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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