LyondellBasell Industries NV (LYB) Stake Lessened by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC cut its stake in shares of LyondellBasell Industries NV (NYSE:LYB) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 822,600 shares of the specialty chemicals company’s stock after selling 14,909 shares during the quarter. Lord Abbett & CO. LLC owned about 0.21% of LyondellBasell Industries NV worth $69,419,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of LYB. BlackRock Inc. grew its stake in LyondellBasell Industries NV by 11.6% in the 2nd quarter. BlackRock Inc. now owns 22,389,726 shares of the specialty chemicals company’s stock valued at $1,889,470,000 after acquiring an additional 2,327,350 shares during the last quarter. FMR LLC grew its stake in LyondellBasell Industries NV by 20.7% in the 1st quarter. FMR LLC now owns 29,128,736 shares of the specialty chemicals company’s stock valued at $2,656,249,000 after acquiring an additional 4,990,465 shares during the last quarter. Brookstone Capital Management grew its stake in LyondellBasell Industries NV by 8.7% in the 2nd quarter. Brookstone Capital Management now owns 70,061 shares of the specialty chemicals company’s stock valued at $5,912,000 after acquiring an additional 5,624 shares during the last quarter. U S Global Investors Inc. grew its stake in LyondellBasell Industries NV by 40.0% in the 2nd quarter. U S Global Investors Inc. now owns 4,900 shares of the specialty chemicals company’s stock valued at $414,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Ray Gerald L & Associates Ltd. grew its stake in LyondellBasell Industries NV by 84.9% in the 2nd quarter. Ray Gerald L & Associates Ltd. now owns 4,900 shares of the specialty chemicals company’s stock valued at $414,000 after acquiring an additional 2,250 shares during the last quarter. 73.72% of the stock is currently owned by institutional investors and hedge funds.

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LyondellBasell Industries NV (NYSE LYB) traded down 2.62% during mid-day trading on Friday, hitting $98.58. 1,411,651 shares of the stock were exchanged. LyondellBasell Industries NV has a one year low of $76.71 and a one year high of $101.47. The company has a market cap of $39.02 billion, a P/E ratio of 11.01 and a beta of 1.04. The company has a 50-day moving average price of $97.31 and a 200-day moving average price of $87.99.

LyondellBasell Industries NV (NYSE:LYB) last released its quarterly earnings data on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.68 by $0.14. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.52 billion. During the same period last year, the firm posted $2.56 earnings per share. The business’s revenue was up 14.7% on a year-over-year basis. On average, analysts predict that LyondellBasell Industries NV will post $10.02 earnings per share for the current fiscal year.

In other news, Director Jagjeet S. Bindra sold 3,224 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total value of $287,580.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.09% of the company’s stock.

LYB has been the topic of a number of recent research reports. Cowen and Company upped their target price on shares of LyondellBasell Industries NV from $90.00 to $95.00 and gave the company a “market perform” rating in a report on Monday, October 16th. SunTrust Banks, Inc. restated a “hold” rating and issued a $96.00 target price (up from $90.00) on shares of LyondellBasell Industries NV in a report on Saturday, September 30th. UBS AG reiterated a “neutral” rating and set a $88.00 price objective (up from $85.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. Zacks Investment Research lowered shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, ValuEngine upgraded shares of LyondellBasell Industries NV from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $96.67.

About LyondellBasell Industries NV

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 Industries NV (NYSE:LYB)

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