State Board of Administration of Florida Retirement System Sells 29,895 Shares of LyondellBasell Industries NV (NYSE:LYB)

State Board of Administration of Florida Retirement System reduced its stake in shares of LyondellBasell Industries NV (NYSE:LYB) by 7.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 393,349 shares of the specialty chemicals company’s stock after selling 29,895 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.12% of LyondellBasell Industries worth $33,879,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pinnacle Associates Ltd. lifted its holdings in LyondellBasell Industries by 14.7% during the second quarter. Pinnacle Associates Ltd. now owns 73,102 shares of the specialty chemicals company’s stock worth $6,296,000 after buying an additional 9,354 shares during the period. FLC Capital Advisors lifted its holdings in LyondellBasell Industries by 142.5% during the second quarter. FLC Capital Advisors now owns 6,770 shares of the specialty chemicals company’s stock worth $591,000 after buying an additional 3,978 shares during the period. Buckingham Asset Management LLC lifted its holdings in LyondellBasell Industries by 56.0% during the second quarter. Buckingham Asset Management LLC now owns 4,193 shares of the specialty chemicals company’s stock worth $361,000 after buying an additional 1,506 shares during the period. Institute for Wealth Management LLC. lifted its holdings in LyondellBasell Industries by 107.8% during the second quarter. Institute for Wealth Management LLC. now owns 8,584 shares of the specialty chemicals company’s stock worth $739,000 after buying an additional 4,453 shares during the period. Finally, Qube Research & Technologies Ltd increased its position in shares of LyondellBasell Industries by 221.8% during the second quarter. Qube Research & Technologies Ltd now owns 44,790 shares of the specialty chemicals company’s stock worth $3,858,000 after purchasing an additional 30,873 shares in the last quarter. 74.54% of the stock is currently owned by institutional investors.

LYB has been the topic of a number of recent analyst reports. Citigroup initiated coverage on LyondellBasell Industries in a research report on Friday, July 12th. They set a “neutral” rating and a $92.00 price target on the stock. Nomura cut their target price on LyondellBasell Industries from $93.00 to $91.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Jefferies Financial Group upped their target price on LyondellBasell Industries from $99.00 to $104.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Cowen cut their target price on LyondellBasell Industries from $92.00 to $85.00 and set a “market perform” rating on the stock in a research report on Monday, August 12th. Finally, BMO Capital Markets cut their target price on LyondellBasell Industries from $90.00 to $88.00 and set a “market perform” rating on the stock in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $102.18.

LyondellBasell Industries stock traded up $0.55 during midday trading on Thursday, reaching $73.68. The company had a trading volume of 136,605 shares, compared to its average volume of 2,520,558. The company has a market capitalization of $24.75 billion, a P/E ratio of 6.54, a P/E/G ratio of 0.81 and a beta of 1.31. LyondellBasell Industries NV has a 12-month low of $71.83 and a 12-month high of $116.63. The firm’s fifty day simple moving average is $81.42 and its 200-day simple moving average is $84.65. 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 quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.75 EPS for the quarter, missing the Zacks’ consensus estimate of $2.84 by ($0.09). The business 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%. On average, analysts expect that LyondellBasell Industries NV will post 10.27 EPS for the current fiscal year.

In other LyondellBasell Industries news, Director Jagjeet S. Bindra acquired 1,360 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average price of $73.48 per share, for a total transaction of $99,932.80. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

LyondellBasell Industries Profile

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, 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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Institutional Ownership by Quarter for LyondellBasell Industries (NYSE:LYB)

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