IBM Retirement Fund Trims Stake in LyondellBasell (LYB)

IBM Retirement Fund cut its stake in shares of LyondellBasell (NYSE:LYB) by 10.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,162 shares of the specialty chemicals company’s stock after selling 863 shares during the quarter. IBM Retirement Fund’s holdings in LyondellBasell were worth $757,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Cincinnati Insurance Co. increased its position in shares of LyondellBasell by 1.8% during the first quarter. Cincinnati Insurance Co. now owns 559,666 shares of the specialty chemicals company’s stock worth $59,146,000 after acquiring an additional 10,000 shares during the period. First Republic Investment Management Inc. increased its position in shares of LyondellBasell by 2.6% during the first quarter. First Republic Investment Management Inc. now owns 660,992 shares of the specialty chemicals company’s stock worth $69,853,000 after acquiring an additional 16,662 shares during the period. Todd Asset Management LLC increased its position in shares of LyondellBasell by 2.4% during the first quarter. Todd Asset Management LLC now owns 186,079 shares of the specialty chemicals company’s stock worth $19,664,000 after acquiring an additional 4,298 shares during the period. JPMorgan Chase & Co. increased its position in shares of LyondellBasell by 2.8% during the first quarter. JPMorgan Chase & Co. now owns 915,612 shares of the specialty chemicals company’s stock worth $96,761,000 after acquiring an additional 25,228 shares during the period. Finally, Cincinnati Financial Corp increased its position in shares of LyondellBasell by 30.0% during the first quarter. Cincinnati Financial Corp now owns 64,991 shares of the specialty chemicals company’s stock worth $6,868,000 after acquiring an additional 14,991 shares during the period. 73.60% of the stock is currently owned by institutional investors and hedge funds.

NYSE LYB opened at $113.76 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.70 and a current ratio of 2.62. LyondellBasell has a 12-month low of $78.01 and a 12-month high of $121.95. The firm has a market capitalization of $44.60 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.15 and a beta of 1.10.

LyondellBasell (NYSE:LYB) last released its quarterly earnings results on Friday, April 27th. The specialty chemicals company reported $3.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.80 by $0.31. LyondellBasell had a net margin of 14.83% and a return on equity of 53.55%. The business had revenue of $9.77 billion for the quarter, compared to analyst estimates of $9.43 billion. During the same period in the previous year, the company earned $1.98 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. sell-side analysts anticipate that LyondellBasell will post 11.02 EPS for the current year.

LYB has been the topic of several research reports. Morgan Stanley set a $130.00 price objective on shares of LyondellBasell and gave the company a “buy” rating in a report on Monday, February 5th. Zacks Investment Research raised shares of LyondellBasell from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a report on Monday, February 5th. Citigroup lifted their price objective on shares of LyondellBasell from $120.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. ValuEngine lowered shares of LyondellBasell from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 3rd. Finally, MED reissued a “buy” rating and set a $140.00 price objective on shares of LyondellBasell in a report on Monday, May 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $116.25.

LyondellBasell 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.

Institutional Ownership by Quarter for LyondellBasell (NYSE:LYB)

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