LyondellBasell Industries NV (LYB) Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC trimmed its holdings in LyondellBasell Industries NV (NYSE:LYB) by 61.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 424,774 shares of the specialty chemicals company’s stock after selling 687,153 shares during the quarter. O Shaughnessy Asset Management LLC owned about 0.11% of LyondellBasell Industries worth $43,449,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LYB. First Republic Investment Management Inc. raised its holdings in shares of LyondellBasell Industries by 101.2% in the second quarter. First Republic Investment Management Inc. now owns 677,904 shares of the specialty chemicals company’s stock valued at $74,467,000 after buying an additional 55,533,112 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in shares of LyondellBasell Industries in the third quarter valued at about $189,804,000. Assenagon Asset Management S.A. raised its holdings in shares of LyondellBasell Industries by 102.5% in the second quarter. Assenagon Asset Management S.A. now owns 1,435,668 shares of the specialty chemicals company’s stock valued at $157,708,000 after buying an additional 726,524 shares during the last quarter. Morgan Stanley raised its holdings in shares of LyondellBasell Industries by 9.9% in the second quarter. Morgan Stanley now owns 4,606,962 shares of the specialty chemicals company’s stock valued at $506,075,000 after buying an additional 413,346 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of LyondellBasell Industries by 28.0% in the second quarter. American Century Companies Inc. now owns 1,418,048 shares of the specialty chemicals company’s stock valued at $155,773,000 after buying an additional 310,552 shares during the last quarter. 72.28% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently issued reports on LYB. Zacks Investment Research cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Friday, August 24th. BMO Capital Markets lifted their price target on LyondellBasell Industries from $111.00 to $112.00 and gave the company a “market perform” rating in a report on Tuesday, August 7th. Cowen lifted their price target on LyondellBasell Industries from $110.00 to $113.00 and gave the company a “market perform” rating in a report on Friday, August 10th. Citigroup lifted their price target on LyondellBasell Industries from $122.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, August 15th. Finally, BNP Paribas began coverage on LyondellBasell Industries in a report on Tuesday, October 2nd. They issued an “outperform” rating and a $129.00 price target for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $117.70.

In related news, major shareholder Ai Investments Holdings Llc bought 1,602,455 shares of the firm’s stock in a transaction dated Thursday, November 8th. The stock was bought at an average cost of $95.65 per share, for a total transaction of $153,274,820.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought a total of 2,209,263 shares of company stock valued at $209,013,494 over the last 90 days. Corporate insiders own 0.09% of the company’s stock.

Shares of NYSE:LYB opened at $95.76 on Friday. The stock has a market cap of $36.48 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 0.85 and a beta of 1.24. LyondellBasell Industries NV has a 1-year low of $85.60 and a 1-year high of $121.95. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.82 and a quick ratio of 1.09.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Tuesday, October 30th. The specialty chemicals company reported $2.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.28. The firm had revenue of $10.16 billion during the quarter, compared to analysts’ expectations of $9.95 billion. LyondellBasell Industries had a return on equity of 47.35% and a net margin of 15.01%. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.67 EPS. As a group, sell-side analysts expect that LyondellBasell Industries NV will post 11.89 EPS for the current year.

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About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in five segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, Asia, International; Intermediates and Derivatives; 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, copolymers, and compounds.

Further Reading: Float

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Institutional Ownership by Quarter for LyondellBasell Industries (NYSE:LYB)

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