Raymond James & Associates boosted its position in LyondellBasell Industries NV (NYSE:LYB) by 17.1% in the 1st quarter, Holdings Channel reports. The firm owned 612,194 shares of the specialty chemicals company’s stock after purchasing an additional 89,617 shares during the period. Raymond James & Associates’ holdings in LyondellBasell Industries were worth $51,473,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in LYB. Nomura Asset Management Co. Ltd. raised its position in shares of LyondellBasell Industries by 10.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 124,877 shares of the specialty chemicals company’s stock valued at $10,385,000 after acquiring an additional 11,374 shares in the last quarter. TIAA FSB raised its position in shares of LyondellBasell Industries by 7.2% during the 1st quarter. TIAA FSB now owns 95,721 shares of the specialty chemicals company’s stock valued at $8,048,000 after acquiring an additional 6,425 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of LyondellBasell Industries by 1.8% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,982 shares of the specialty chemicals company’s stock valued at $1,080,000 after acquiring an additional 232 shares in the last quarter. Oakbrook Investments LLC acquired a new stake in shares of LyondellBasell Industries during the 1st quarter valued at approximately $985,000. Finally, First Mercantile Trust Co. raised its position in shares of LyondellBasell Industries by 60.8% during the 4th quarter. First Mercantile Trust Co. now owns 820 shares of the specialty chemicals company’s stock valued at $68,000 after acquiring an additional 310 shares in the last quarter. 72.83% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the company. Alembic Global Advisors set a $120.00 price target on LyondellBasell Industries and gave the company a “buy” rating in a research report on Friday, April 26th. Nomura raised LyondellBasell Industries from a “neutral” rating to a “buy” rating and upped their price target for the company from $87.00 to $113.00 in a research report on Monday, April 15th. Bank of America raised LyondellBasell Industries from an “underperform” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Tuesday, April 2nd. Goldman Sachs Group raised LyondellBasell Industries from a “neutral” rating to a “buy” rating and increased their target price for the stock from $104.00 to $125.00 in a research report on Wednesday, March 6th. Finally, Dougherty & Co lowered LyondellBasell Industries from a “buy” rating to a “neutral” rating in a research report on Friday, February 22nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. LyondellBasell Industries has a consensus rating of “Buy” and a consensus target price of $115.19.
Shares of NYSE LYB opened at $81.80 on Friday. The firm has a market capitalization of $29.90 billion, a price-to-earnings ratio of 7.26, a P/E/G ratio of 1.00 and a beta of 1.11. The company has a current ratio of 1.47, a quick ratio of 0.83 and a debt-to-equity ratio of 0.74. LyondellBasell Industries NV has a 1-year low of $77.52 and a 1-year high of $119.39.
LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.02. The company had revenue of $8.78 billion for the quarter, compared to analyst estimates of $9.47 billion. LyondellBasell Industries had a return on equity of 38.05% and a net margin of 11.24%. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period last year, the company earned $3.11 earnings per share. Sell-side analysts anticipate that LyondellBasell Industries NV will post 10.35 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: “Raymond James & Associates Has $51.47 Million Position in LyondellBasell Industries NV (LYB)” was originally reported by Modern Readers and is the sole property of of Modern Readers. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://www.modernreaders.com/news/2019/05/17/raymond-james-associates-has-51-47-million-position-in-lyondellbasell-industries-nv-lyb.html.
About LyondellBasell Industries
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers and copolymers.
Featured Article: Asset Allocation and Your Retirement
Want to see what other hedge funds are holding LYB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LyondellBasell Industries NV (NYSE:LYB).
Receive News & Ratings for LyondellBasell Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LyondellBasell Industries and related companies with MarketBeat.com's FREE daily email newsletter.