Wedge Capital Management L L P NC boosted its position in shares of LyondellBasell Industries NV (NYSE:LYB) by 11.4% during the second quarter, Holdings Channel reports. The fund owned 102,090 shares of the specialty chemicals company’s stock after buying an additional 10,424 shares during the period. Wedge Capital Management L L P NC’s holdings in LyondellBasell Industries NV were worth $8,615,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Harbour Capital Advisors LLC purchased a new stake in shares of LyondellBasell Industries NV during the first quarter worth $107,000. TrimTabs Asset Management LLC boosted its position 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 valued at $124,000 after buying an additional 640 shares during the last quarter. Point72 Asia Hong Kong Ltd bought a new position in LyondellBasell Industries NV during the first quarter valued at approximately $132,000. American Beacon Advisors Inc. bought a new position in LyondellBasell Industries NV during the first quarter valued at approximately $161,000. Finally, Seven Bridges Advisors LLC boosted its position 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 valued at $163,000 after buying an additional 478 shares during the last quarter. 74.23% of the stock is owned by institutional investors and hedge funds.

Shares of LyondellBasell Industries NV (NYSE LYB) opened at 87.95 on Wednesday. LyondellBasell Industries NV has a one year low of $74.02 and a one year high of $97.64. The firm’s 50-day moving average price is $86.56 and its 200-day moving average price is $86.65. The stock 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 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 the consensus estimate of $8.52 billion. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. The company’s revenue was up 14.7% on a year-over-year basis. During the same period last year, the firm earned $2.56 earnings per share. Equities research analysts anticipate that LyondellBasell Industries NV will post $9.89 EPS for the current fiscal year.

LyondellBasell Industries NV announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 24th that allows the company to buyback 1,000% of shares. This buyback authorization allows the specialty chemicals company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

WARNING: “Wedge Capital Management L L P NC Increases Position in LyondellBasell Industries NV (LYB)” was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this report on another domain, it was illegally copied and republished in violation of US and international copyright law. The legal version of this report can be viewed at https://www.watchlistnews.com/wedge-capital-management-l-l-p-nc-increases-position-in-lyondellbasell-industries-nv-lyb/1493825.html.

Several research analysts recently commented on the company. UBS AG reissued a “neutral” rating and set a $85.00 target price (down from $94.00) on shares of LyondellBasell Industries NV in a research note on Sunday, June 25th. Sanford C. Bernstein reissued an “outperform” rating and set a $110.00 target price on shares of LyondellBasell Industries NV in a research note on Wednesday, June 28th. BidaskClub raised LyondellBasell Industries NV from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. HSBC Holdings plc assumed coverage on LyondellBasell Industries NV in a research note on Monday, June 26th. They set a “buy” rating and a $101.00 target price for the company. Finally, Jefferies Group LLC reissued a “hold” rating and set a $88.00 target price on shares of LyondellBasell Industries NV in a research note on Friday, June 16th. 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 presently has an average rating of “Hold” and a consensus price target of $94.81.

In other 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 Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding LYB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LyondellBasell Industries NV (NYSE:LYB).

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

Receive News & Ratings for LyondellBasell Industries NV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LyondellBasell Industries NV and related companies with Analyst Ratings Network's FREE daily email newsletter.