Connor Clark & Lunn Investment Management Ltd. boosted its holdings in LyondellBasell Industries NV (NYSE:LYB) by 108.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 78,550 shares of the specialty chemicals company’s stock after acquiring an additional 40,875 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in LyondellBasell Industries were worth $6,604,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its stake in LyondellBasell Industries by 10.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 124,877 shares of the specialty chemicals company’s stock valued at $10,385,000 after acquiring an additional 11,374 shares during the last quarter. TIAA FSB grew its stake in LyondellBasell Industries by 7.2% in the 1st quarter. TIAA FSB now owns 95,721 shares of the specialty chemicals company’s stock valued at $8,048,000 after acquiring an additional 6,425 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in LyondellBasell Industries by 1.8% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,982 shares of the specialty chemicals company’s stock valued at $1,080,000 after acquiring an additional 232 shares during the last quarter. Oakbrook Investments LLC acquired a new stake in shares of LyondellBasell Industries during the 1st quarter worth about $985,000. Finally, First Mercantile Trust Co. boosted its stake in shares of LyondellBasell Industries by 60.8% during the 4th quarter. First Mercantile Trust Co. now owns 820 shares of the specialty chemicals company’s stock worth $68,000 after purchasing an additional 310 shares during the last quarter. 68.31% of the stock is currently owned by hedge funds and other institutional investors.
LYB has been the topic of several analyst reports. Zacks Investment Research raised shares of LyondellBasell Industries from a “sell” rating to a “hold” rating in a research note on Friday, February 1st. Alembic Global Advisors set a $120.00 price target on shares of LyondellBasell Industries and gave the stock a “buy” rating in a research note on Saturday, February 2nd. BMO Capital Markets decreased their price target on shares of LyondellBasell Industries from $97.00 to $95.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 5th. Cowen reaffirmed a “market perform” rating and set a $100.00 price target on shares of LyondellBasell Industries in a research note on Wednesday, February 6th. Finally, reaffirmed a “buy” rating and set a $120.00 price target on shares of LyondellBasell Industries in a research note on Tuesday, February 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $113.87.
Shares of LYB stock opened at $77.93 on Friday. The stock has a market cap of $30.21 billion, a PE ratio of 6.91, a P/E/G ratio of 1.01 and a beta of 1.11. LyondellBasell Industries NV has a 1-year low of $77.24 and a 1-year high of $118.85. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.83 and a current ratio of 1.47.
LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $2.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.02. The business had revenue of $8.78 billion for the quarter, compared to analyst estimates of $9.47 billion. LyondellBasell Industries had a net margin of 11.24% and a return on equity of 38.05%. The company’s revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.11 EPS. Analysts forecast that LyondellBasell Industries NV will post 10.35 earnings per share for the current fiscal year.
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LyondellBasell Industries Company 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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