Ridgewood Investments LLC boosted its stake in shares of LyondellBasell Industries NV (NYSE:LYB) by 3.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,925 shares of the specialty chemicals company’s stock after acquiring an additional 259 shares during the period. Ridgewood Investments LLC’s holdings in LyondellBasell Industries were worth $654,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Morgan Stanley increased its holdings in shares of LyondellBasell Industries by 10.3% in the 2nd quarter. Morgan Stanley now owns 4,118,615 shares of the specialty chemicals company’s stock valued at $354,737,000 after acquiring an additional 385,093 shares during the last quarter. Invesco Ltd. boosted its holdings in LyondellBasell Industries by 32.0% in the second quarter. Invesco Ltd. now owns 3,639,022 shares of the specialty chemicals company’s stock valued at $313,429,000 after purchasing an additional 881,932 shares in the last quarter. Aristeia Capital LLC purchased a new position in LyondellBasell Industries in the second quarter valued at approximately $226,334,000. Waddell & Reed Financial Inc. increased its stake in LyondellBasell Industries by 36.9% in the second quarter. Waddell & Reed Financial Inc. now owns 1,907,892 shares of the specialty chemicals company’s stock valued at $164,327,000 after purchasing an additional 513,989 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in LyondellBasell Industries by 224.2% during the second quarter. Nuveen Asset Management LLC now owns 1,583,269 shares of the specialty chemicals company’s stock worth $136,367,000 after purchasing an additional 1,094,978 shares in the last quarter. 66.62% of the stock is currently owned by institutional investors.
LYB has been the subject of several research analyst reports. Wells Fargo & Co initiated coverage on shares of LyondellBasell Industries in a report on Tuesday, October 15th. They issued an “outperform” rating and a $105.00 target price for the company. UBS Group increased their target price on shares of LyondellBasell Industries from $87.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Citigroup lifted their price target on shares of LyondellBasell Industries from $83.00 to $88.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. ValuEngine raised shares of LyondellBasell Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of LyondellBasell Industries from $69.00 to $84.00 and gave the company an “underweight” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $95.88.
LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $2.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.78 by ($0.08). The company had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.98 billion. LyondellBasell Industries had a net margin of 9.80% and a return on equity of 35.56%. On average, equities research analysts forecast that LyondellBasell Industries NV will post 9.95 earnings per share for the current year.
In other LyondellBasell Industries news, SVP Massimo Covezzi sold 11,762 shares of LyondellBasell Industries stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $96.79, for a total value of $1,138,443.98. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by company insiders.
LyondellBasell Industries Profile
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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