Nomura Asset Management Co. Ltd. Reduces Stock Position in LyondellBasell Industries N.V. $LYB

Nomura Asset Management Co. Ltd. trimmed its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 229,652 shares of the specialty chemicals company’s stock after selling 3,301 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in LyondellBasell Industries were worth $13,288,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in LyondellBasell Industries by 7.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,239,562 shares of the specialty chemicals company’s stock worth $650,465,000 after purchasing an additional 657,443 shares during the last quarter. Geode Capital Management LLC increased its position in shares of LyondellBasell Industries by 0.4% in the second quarter. Geode Capital Management LLC now owns 6,824,462 shares of the specialty chemicals company’s stock valued at $395,486,000 after buying an additional 24,161 shares in the last quarter. Invesco Ltd. raised its stake in shares of LyondellBasell Industries by 10.4% during the 1st quarter. Invesco Ltd. now owns 6,432,552 shares of the specialty chemicals company’s stock worth $452,852,000 after buying an additional 606,234 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of LyondellBasell Industries by 12.7% in the 1st quarter. Federated Hermes Inc. now owns 4,744,239 shares of the specialty chemicals company’s stock worth $333,994,000 after buying an additional 534,456 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in LyondellBasell Industries by 12.8% in the 1st quarter. JPMorgan Chase & Co. now owns 4,490,241 shares of the specialty chemicals company’s stock valued at $316,113,000 after acquiring an additional 509,996 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $42.82 on Thursday. LyondellBasell Industries N.V. has a 1 year low of $41.58 and a 1 year high of $85.25. The company’s 50 day simple moving average is $47.55 and its 200 day simple moving average is $54.26. The company has a market capitalization of $13.78 billion, a price-to-earnings ratio of 55.61 and a beta of 0.87. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.04 and a current ratio of 1.77.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, October 31st. The specialty chemicals company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.80 by $0.21. The firm had revenue of $7.73 billion during the quarter, compared to analysts’ expectations of $7.41 billion. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. LyondellBasell Industries’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.88 EPS. On average, sell-side analysts predict that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

Insider Activity at LyondellBasell Industries

In other LyondellBasell Industries news, EVP Kimberly A. Foley acquired 5,661 shares of the stock in a transaction dated Wednesday, November 12th. The stock was acquired at an average price of $43.56 per share, with a total value of $246,593.16. Following the completion of the transaction, the executive vice president directly owned 67,688 shares in the company, valued at approximately $2,948,489.28. This trade represents a 9.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LYB has been the subject of a number of research reports. Evercore ISI cut their target price on shares of LyondellBasell Industries from $65.00 to $57.00 and set an “in-line” rating for the company in a research report on Tuesday, November 11th. Royal Bank Of Canada dropped their price objective on shares of LyondellBasell Industries from $64.00 to $54.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 5th. Wells Fargo & Company cut their price objective on LyondellBasell Industries from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Monday, November 3rd. UBS Group lowered their target price on LyondellBasell Industries from $44.00 to $43.00 and set a “sell” rating on the stock in a report on Monday, October 6th. Finally, BMO Capital Markets dropped their price target on LyondellBasell Industries from $58.00 to $48.00 and set a “market perform” rating for the company in a research report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus price target of $56.19.

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.