Miller Howard Investments Inc. NY lessened its stake in shares of LyondellBasell Industries NV (NYSE:LYB) by 8.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 766,354 shares of the specialty chemicals company’s stock after selling 70,981 shares during the quarter. LyondellBasell Industries accounts for about 2.1% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 18th largest position. Miller Howard Investments Inc. NY’s holdings in LyondellBasell Industries were worth $68,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Advisors Preferred LLC bought a new position in shares of LyondellBasell Industries during the 2nd quarter worth approximately $25,000. Prestige Wealth Management Group LLC bought a new position in LyondellBasell Industries in the 2nd quarter valued at $26,000. MUFG Americas Holdings Corp raised its position in LyondellBasell Industries by 80.8% in the 2nd quarter. MUFG Americas Holdings Corp now owns 329 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 147 shares during the last quarter. Reilly Financial Advisors LLC raised its position in LyondellBasell Industries by 89.4% in the 2nd quarter. Reilly Financial Advisors LLC now owns 413 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 195 shares during the last quarter. Finally, Enterprise Financial Services Corp raised its position in LyondellBasell Industries by 47.1% in the 2nd quarter. Enterprise Financial Services Corp now owns 428 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 137 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.
Shares of NYSE LYB traded down $0.18 during midday trading on Thursday, hitting $86.27. The stock had a trading volume of 70,704 shares, compared to its average volume of 2,506,318. The company’s 50-day simple moving average is $83.79 and its 200 day simple moving average is $83.51. The firm has a market cap of $28.98 billion, a P/E ratio of 7.67, a price-to-earnings-growth ratio of 0.95 and a beta of 1.32. LyondellBasell Industries NV has a fifty-two week low of $68.61 and a fifty-two week high of $98.33. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.47 and a quick ratio of 0.85.
LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.84 by ($0.09). The firm had revenue of $9.05 billion during the quarter, compared to analyst estimates of $9.26 billion. LyondellBasell Industries had a net margin of 9.83% and a return on equity of 35.20%. Equities analysts expect that LyondellBasell Industries NV will post 10.23 EPS for the current fiscal year.
In other news, major shareholder Ai Investments Holdings Llc bought 764,501 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $74.61 per share, with a total value of $57,039,419.61. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jagjeet S. Bindra bought 1,360 shares of the stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average cost of $73.48 per share, with a total value of $99,932.80. The disclosure for this purchase can be found here. Insiders bought a total of 773,107 shares of company stock valued at $57,638,240 over the last three months. Insiders own 0.14% of the company’s stock.
Several equities analysts have issued reports on the company. Zacks Investment Research downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $77.00 price objective for the company. in a research report on Tuesday, August 13th. Wells Fargo & Co assumed coverage on LyondellBasell Industries in a research report on Tuesday. They issued an “outperform” rating and a $105.00 price objective for the company. Cowen lifted their price objective on LyondellBasell Industries from $85.00 to $90.00 and gave the company a “market perform” rating in a research report on Thursday, September 26th. Nomura cut their price objective on LyondellBasell Industries from $91.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Finally, Bank of America lifted their price objective on LyondellBasell Industries from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. LyondellBasell Industries has a consensus rating of “Hold” and a consensus price target of $100.24.
About LyondellBasell Industries
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers and copolymers.
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