Resona Asset Management Co. Ltd. Invests $4.63 Million in LyondellBasell Industries N.V. $LYB

Resona Asset Management Co. Ltd. bought a new stake in LyondellBasell Industries N.V. (NYSE:LYB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 79,976 shares of the specialty chemicals company’s stock, valued at approximately $4,627,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Brown Advisory Inc. acquired a new position in shares of LyondellBasell Industries during the first quarter worth about $267,000. M&T Bank Corp raised its holdings in shares of LyondellBasell Industries by 1.1% during the 1st quarter. M&T Bank Corp now owns 19,950 shares of the specialty chemicals company’s stock valued at $1,405,000 after buying an additional 209 shares during the period. Greenleaf Trust lifted its position in LyondellBasell Industries by 20.9% during the 1st quarter. Greenleaf Trust now owns 4,486 shares of the specialty chemicals company’s stock worth $316,000 after acquiring an additional 774 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in LyondellBasell Industries by 19.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 24,246 shares of the specialty chemicals company’s stock worth $1,707,000 after acquiring an additional 3,985 shares during the period. Finally, Xponance Inc. boosted its holdings in LyondellBasell Industries by 1.1% in the 1st quarter. Xponance Inc. now owns 41,579 shares of the specialty chemicals company’s stock worth $2,927,000 after acquiring an additional 472 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $42.91 on Monday. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $13.81 billion, a price-to-earnings ratio of 55.72 and a beta of 0.87. LyondellBasell Industries N.V. has a twelve month low of $42.26 and a twelve month high of $86.45. The business 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 released its quarterly earnings data on Friday, October 31st. The specialty chemicals company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.21. The firm had revenue of $7.73 billion during the quarter, compared to the consensus estimate of $7.41 billion. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The firm’s revenue was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.88 earnings per share. As a group, equities research analysts expect that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

Insider Buying and Selling at LyondellBasell Industries

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $53.57, for a total transaction of $1,071,400.00. Following the completion of the sale, the chief executive officer owned 160,351 shares of the company’s stock, valued at $8,590,003.07. This represents a 11.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of LyondellBasell Industries from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of LyondellBasell Industries in a report on Wednesday, October 8th. Evercore ISI cut their price objective on shares of LyondellBasell Industries from $90.00 to $65.00 and set an “in-line” rating on the stock in a report on Tuesday, September 23rd. JPMorgan Chase & Co. decreased their price objective on shares of LyondellBasell Industries from $52.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Finally, Rothschild & Co Redburn dropped their target price on LyondellBasell Industries from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $57.69.

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.