MAI Capital Management Sells 3,033 Shares of LyondellBasell Industries (NYSE:LYB)

MAI Capital Management lowered its stake in LyondellBasell Industries (NYSE:LYB) by 19.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,757 shares of the specialty chemicals company’s stock after selling 3,033 shares during the quarter. MAI Capital Management’s holdings in LyondellBasell Industries were worth $1,223,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LYB. Capital World Investors increased its position in shares of LyondellBasell Industries by 28.9% in the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after acquiring an additional 600,554 shares during the last quarter. Ilex Capital Partners UK LLP acquired a new position in LyondellBasell Industries during the first quarter worth approximately $61,327,000. Pacer Advisors Inc. increased its position in LyondellBasell Industries by 13.6% during the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after buying an additional 579,300 shares during the last quarter. Ensign Peak Advisors Inc increased its position in LyondellBasell Industries by 80.7% during the second quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock worth $74,523,000 after buying an additional 347,877 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in LyondellBasell Industries during the second quarter worth approximately $17,683,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LYB. Wells Fargo & Company lowered their price target on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their target price on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Barclays decreased their target price on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Mizuho decreased their target price on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $101.70.

LyondellBasell Industries Stock Up 0.3 %

NYSE LYB opened at $82.48 on Thursday. The business has a fifty day moving average price of $90.44 and a two-hundred day moving average price of $94.55. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. LyondellBasell Industries has a fifty-two week low of $81.45 and a fifty-two week high of $107.02. The stock has a market capitalization of $26.79 billion, a PE ratio of 12.55, a PEG ratio of 2.31 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.10). The company had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company posted $2.46 earnings per share. Equities analysts expect that LyondellBasell Industries will post 7.09 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.