ZWJ Investment Counsel Inc. Raises Position in LyondellBasell Industries NV (LYB)
ZWJ Investment Counsel Inc. increased its position in shares of LyondellBasell Industries NV (NYSE:LYB) by 2.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 237,143 shares of the specialty chemicals company’s stock after purchasing an additional 4,692 shares during the quarter. LyondellBasell Industries NV makes up approximately 1.8% of ZWJ Investment Counsel Inc.’s investment portfolio, making the stock its 20th largest position. ZWJ Investment Counsel Inc. owned about 60,118.39% of LyondellBasell Industries NV worth $23,489,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Asia Hong Kong Ltd acquired a new position in LyondellBasell Industries NV during the first quarter worth $132,000. American Beacon Advisors Inc. acquired a new position in LyondellBasell Industries NV during the first quarter worth $161,000. Seven Bridges Advisors LLC boosted its stake in LyondellBasell Industries NV by 32.8% during 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. WESPAC Advisors SoCal LLC boosted its stake in LyondellBasell Industries NV by 4.9% during the second quarter. WESPAC Advisors SoCal LLC now owns 2,125 shares of the specialty chemicals company’s stock worth $179,000 after buying an additional 100 shares during the last quarter. Finally, WFG Advisors LP boosted its stake in LyondellBasell Industries NV by 66.4% during the second quarter. WFG Advisors LP now owns 2,213 shares of the specialty chemicals company’s stock worth $187,000 after buying an additional 883 shares during the last quarter. Hedge funds and other institutional investors own 74.27% of the company’s stock.
In related news, Director Jagjeet S. Bindra sold 1,574 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $103.73, for a total value of $163,271.02. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by insiders.
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A number of research firms have weighed in on LYB. Nomura reissued a “hold” rating and set a $99.00 price objective (up previously from $90.00) on shares of LyondellBasell Industries NV in a research note on Tuesday, September 26th. Royal Bank Of Canada boosted their price objective on LyondellBasell Industries NV from $102.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 31st. SunTrust Banks, Inc. reissued a “hold” rating and set a $100.00 price objective on shares of LyondellBasell Industries NV in a research note on Wednesday, November 1st. ValuEngine raised LyondellBasell Industries NV from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Finally, UBS AG upped their price target on LyondellBasell Industries NV from $88.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $99.56.
LyondellBasell Industries NV (NYSE LYB) traded down $0.47 during mid-day trading on Thursday, hitting $105.39. The company had a trading volume of 411,102 shares, compared to its average volume of 2,580,129. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.40 and a quick ratio of 1.49. The stock has a market cap of $41,781.23, a P/E ratio of 10.95, a PEG ratio of 1.18 and a beta of 1.08. LyondellBasell Industries NV has a 52-week low of $77.85 and a 52-week high of $107.83.
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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