Massachusetts Financial Services Co. MA lessened its stake in shares of LyondellBasell (NYSE:LYB) by 0.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 422,258 shares of the specialty chemicals company’s stock after selling 1,642 shares during the period. Massachusetts Financial Services Co. MA’s holdings in LyondellBasell were worth $44,624,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Mckinley Capital Management LLC Delaware raised its holdings in LyondellBasell by 4.6% in the 1st quarter. Mckinley Capital Management LLC Delaware now owns 130,699 shares of the specialty chemicals company’s stock valued at $13,812,000 after buying an additional 5,794 shares during the period. American Century Companies Inc. increased its stake in LyondellBasell by 14.0% during the first quarter. American Century Companies Inc. now owns 1,107,496 shares of the specialty chemicals company’s stock worth $117,040,000 after purchasing an additional 136,045 shares during the period. Meeder Asset Management Inc. increased its stake in LyondellBasell by 14.3% during the first quarter. Meeder Asset Management Inc. now owns 60,583 shares of the specialty chemicals company’s stock worth $6,404,000 after purchasing an additional 7,597 shares during the period. Pinnacle Financial Partners Inc. purchased a new stake in LyondellBasell during the first quarter worth about $215,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in LyondellBasell by 13.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 182,458 shares of the specialty chemicals company’s stock worth $19,282,000 after purchasing an additional 22,055 shares during the period. Institutional investors and hedge funds own 75.28% of the company’s stock.
Shares of LyondellBasell opened at $112.17 on Wednesday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.62 and a quick ratio of 1.70. The company has a market capitalization of $43.90 billion, a P/E ratio of 10.12, a price-to-earnings-growth ratio of 1.13 and a beta of 1.10. LyondellBasell has a 52-week low of $111.17 and a 52-week high of $112.46.
LyondellBasell (NYSE:LYB) last announced its quarterly earnings results on Friday, April 27th. The specialty chemicals company reported $3.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.80 by $0.31. The firm had revenue of $9.77 billion during the quarter, compared to the consensus estimate of $9.43 billion. LyondellBasell had a return on equity of 53.55% and a net margin of 14.83%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.98 earnings per share. sell-side analysts predict that LyondellBasell will post 11.02 EPS for the current fiscal year.
A number of brokerages have issued reports on LYB. ValuEngine upgraded shares of LyondellBasell from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Citigroup boosted their price target on shares of LyondellBasell from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Zacks Investment Research upgraded shares of LyondellBasell from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research note on Monday, February 5th. Cowen lowered their price objective on LyondellBasell from $125.00 to $110.00 and set a “market perform” rating for the company in a research report on Monday, May 7th. Finally, Wells Fargo reissued an “outperform” rating and set a $125.00 price objective (up from $110.00) on shares of LyondellBasell in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $113.94.
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.
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