State of Tennessee Treasury Department lowered its holdings in shares of LyondellBasell Industries NV (NYSE:LYB) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,309 shares of the specialty chemicals company’s stock after selling 2,031 shares during the period. State of Tennessee Treasury Department’s holdings in LyondellBasell Industries NV were worth $8,747,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in LYB. Xact Kapitalforvaltning AB raised its stake in LyondellBasell Industries NV by 2.5% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 87,833 shares of the specialty chemicals company’s stock valued at $7,412,000 after acquiring an additional 2,133 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in LyondellBasell Industries NV during the 2nd quarter valued at $278,000. Atria Investments LLC raised its stake in LyondellBasell Industries NV by 23.4% during the 2nd quarter. Atria Investments LLC now owns 34,627 shares of the specialty chemicals company’s stock valued at $2,922,000 after acquiring an additional 6,563 shares in the last quarter. Banced Corp raised its stake in LyondellBasell Industries NV by 7.2% during the 2nd quarter. Banced Corp now owns 4,815 shares of the specialty chemicals company’s stock valued at $406,000 after acquiring an additional 323 shares in the last quarter. Finally, Pennsylvania Trust Co bought a new stake in LyondellBasell Industries NV during the 2nd quarter valued at $675,000. 74.27% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on LYB shares. BidaskClub downgraded LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Cowen and Company reissued a “hold” rating and issued a $90.00 price objective on shares of LyondellBasell Industries NV in a research note on Wednesday, October 4th. Deutsche Bank AG reissued a “buy” rating and issued a $94.00 price objective (up previously from $90.00) on shares of LyondellBasell Industries NV in a research note on Monday, July 31st. Zacks Investment Research downgraded LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, UBS AG boosted their price objective on LyondellBasell Industries NV from $96.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $99.56.
In other news, Director Jagjeet S. Bindra sold 1,574 shares of LyondellBasell Industries NV stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $103.73, for a total transaction of $163,271.02. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.09% of the company’s stock.
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LyondellBasell Industries NV (NYSE:LYB) opened at $104.26 on Friday. LyondellBasell Industries NV has a twelve month low of $78.01 and a twelve month high of $107.83. The company has a current ratio of 2.40, a quick ratio of 1.49 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $41,126.40, a price-to-earnings ratio of 10.78, a PEG ratio of 1.16 and a beta of 1.08.
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.
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