LyondellBasell Industries (LYB) Shares Sold by Herndon Capital Management LLC
Herndon Capital Management LLC lowered its position in LyondellBasell Industries (NYSE:LYB) by 33.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 687,035 shares of the company’s stock after selling 352,763 shares during the period. LyondellBasell Industries makes up 2.0% of Herndon Capital Management LLC’s holdings, making the stock its 27th largest position. Herndon Capital Management LLC owned about 0.16% of LyondellBasell Industries worth $51,129,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in LyondellBasell Industries during the second quarter valued at about $184,074,000. Anchor Bolt Capital LP increased its position in LyondellBasell Industries by 72.1% in the first quarter. Anchor Bolt Capital LP now owns 1,160,225 shares of the company’s stock valued at $99,292,000 after buying an additional 485,904 shares in the last quarter. PGGM Investments increased its position in LyondellBasell Industries by 131.4% in the second quarter. PGGM Investments now owns 613,548 shares of the company’s stock valued at $45,660,000 after buying an additional 348,416 shares in the last quarter. Loomis Sayles & Co. L P increased its position in LyondellBasell Industries by 106.2% in the first quarter. Loomis Sayles & Co. L P now owns 513,157 shares of the company’s stock valued at $43,916,000 after buying an additional 264,234 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in LyondellBasell Industries by 45.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 787,700 shares of the company’s stock valued at $67,411,000 after buying an additional 246,500 shares in the last quarter. Institutional investors and hedge funds own 71.63% of the company’s stock.
LyondellBasell Industries (NYSE:LYB) traded up 0.82% during trading on Tuesday, reaching $80.18. The company’s stock had a trading volume of 4,150,702 shares. The company has a market cap of $33.33 billion, a P/E ratio of 8.66 and a beta of 1.46. The stock’s 50-day moving average is $79.00 and its 200 day moving average is $79.99. LyondellBasell Industries has a 12 month low of $69.10 and a 12 month high of $97.20.
LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, July 29th. The company reported $2.45 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by $0.06. The company had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.64 billion. LyondellBasell Industries had a return on equity of 66.25% and a net margin of 13.91%. The business’s quarterly revenue was down 19.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.81 EPS. On average, equities analysts forecast that LyondellBasell Industries will post $9.61 EPS for the current fiscal year.
Several research firms have issued reports on LYB. Tudor Pickering began coverage on LyondellBasell Industries in a report on Thursday, October 13th. They set a “buy” rating and a $95.00 price objective on the stock. Zacks Investment Research downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Friday, October 7th. Morgan Stanley set a $115.00 price objective on LyondellBasell Industries and gave the stock a “buy” rating in a report on Wednesday, September 28th. Jefferies Group upped their price objective on LyondellBasell Industries from $84.00 to $88.00 and gave the stock a “hold” rating in a report on Thursday, September 22nd. Finally, RBC Capital Markets reaffirmed a “hold” rating and set a $82.00 price objective on shares of LyondellBasell Industries in a report on Tuesday, September 20th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $90.19.
In related news, Director Jagjeet S. Bindra sold 3,750 shares of the business’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $80.01, for a total value of $300,037.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.14% of the company’s stock.
About LyondellBasell Industries
LyondellBasell Industries N.V. is a global chemical company. The Company’s segments include Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining, and Technology. Its O&P-Americas segment produces and markets olefins, including ethylene and ethylene co-products, and polyolefins.
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