Resona Asset Management Co. Ltd. Buys Shares of 79,976 LyondellBasell Industries N.V. $LYB

Resona Asset Management Co. Ltd. purchased a new position in shares of LyondellBasell Industries N.V. (NYSE:LYB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 79,976 shares of the specialty chemicals company’s stock, valued at approximately $4,627,000.

Several other hedge funds have also recently bought and sold shares of LYB. Crews Bank & Trust grew its position in LyondellBasell Industries by 16.4% in the 2nd quarter. Crews Bank & Trust now owns 1,245 shares of the specialty chemicals company’s stock worth $72,000 after purchasing an additional 175 shares during the last quarter. New York Life Investment Management LLC boosted its position in shares of LyondellBasell Industries by 0.5% during the second quarter. New York Life Investment Management LLC now owns 38,521 shares of the specialty chemicals company’s stock worth $2,229,000 after buying an additional 193 shares during the period. Central Pacific Bank Trust Division boosted its position in shares of LyondellBasell Industries by 4.3% during the second quarter. Central Pacific Bank Trust Division now owns 4,830 shares of the specialty chemicals company’s stock worth $279,000 after buying an additional 200 shares during the period. State of Michigan Retirement System grew its holdings in LyondellBasell Industries by 0.3% in the 2nd quarter. State of Michigan Retirement System now owns 78,165 shares of the specialty chemicals company’s stock worth $4,523,000 after buying an additional 200 shares in the last quarter. Finally, TCW Group Inc. increased its position in LyondellBasell Industries by 1.1% in the 1st quarter. TCW Group Inc. now owns 18,428 shares of the specialty chemicals company’s stock valued at $1,297,000 after acquiring an additional 202 shares during the period. 71.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LYB. Wall Street Zen upgraded LyondellBasell Industries from a “sell” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. cut their price objective on shares of LyondellBasell Industries from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, November 3rd. Bank of America decreased their target price on shares of LyondellBasell Industries from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. UBS Group dropped their price target on shares of LyondellBasell Industries from $44.00 to $43.00 and set a “sell” rating on the stock in a research report on Monday, October 6th. Finally, Citigroup decreased their price objective on shares of LyondellBasell Industries from $53.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, LyondellBasell Industries has a consensus rating of “Hold” and a consensus target price of $57.69.

Insider Activity

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the business’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $53.57, for a total transaction of $1,071,400.00. Following the sale, the chief executive officer directly owned 160,351 shares of the company’s stock, valued at $8,590,003.07. The trade was a 11.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by insiders.

LyondellBasell Industries Stock Up 1.2%

LYB stock opened at $42.91 on Monday. The firm has a market cap of $13.81 billion, a PE ratio of 55.72 and a beta of 0.87. LyondellBasell Industries N.V. has a 12 month low of $42.26 and a 12 month high of $86.45. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04. The firm has a 50 day simple moving average of $49.32 and a 200 day simple moving average of $55.06.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, October 31st. The specialty chemicals company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.21. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The firm had revenue of $7.73 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the previous year, the business posted $1.88 earnings per share. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. Equities research analysts forecast that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.