LyondellBasell Industries NV (LYB) Position Raised by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. increased its holdings in LyondellBasell Industries NV (NYSE:LYB) by 2.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 113,503 shares of the specialty chemicals company’s stock after buying an additional 3,166 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in LyondellBasell Industries were worth $11,635,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Cincinnati Insurance Co. raised its position in LyondellBasell Industries by 16.4% during the third quarter. Cincinnati Insurance Co. now owns 651,666 shares of the specialty chemicals company’s stock valued at $66,802,000 after purchasing an additional 92,000 shares in the last quarter. SG Americas Securities LLC raised its position in LyondellBasell Industries by 63.6% during the third quarter. SG Americas Securities LLC now owns 127,871 shares of the specialty chemicals company’s stock valued at $13,108,000 after purchasing an additional 49,696 shares in the last quarter. LSV Asset Management raised its position in LyondellBasell Industries by 10.2% during the third quarter. LSV Asset Management now owns 3,591,915 shares of the specialty chemicals company’s stock valued at $368,207,000 after purchasing an additional 333,468 shares in the last quarter. Stone Ridge Asset Management LLC raised its position in LyondellBasell Industries by 89.3% during the third quarter. Stone Ridge Asset Management LLC now owns 109,111 shares of the specialty chemicals company’s stock valued at $11,185,000 after purchasing an additional 51,470 shares in the last quarter. Finally, Gryphon Financial Partners LLC increased its holdings in shares of LyondellBasell Industries by 3.1% in the third quarter. Gryphon Financial Partners LLC now owns 19,042 shares of the specialty chemicals company’s stock worth $1,952,000 after buying an additional 575 shares during the period. Institutional investors own 73.28% of the company’s stock.

NYSE LYB opened at $91.88 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.09 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $36.54 billion, a P/E ratio of 8.98, a price-to-earnings-growth ratio of 0.84 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.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Tuesday, October 30th. The specialty chemicals company reported $2.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.28. The company had revenue of $10.16 billion for 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%. LyondellBasell Industries’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period last year, the firm earned $2.67 earnings per share. As a group, analysts anticipate that LyondellBasell Industries NV will post 11.89 EPS for the current fiscal year.

Several research analysts have recently commented on the company. Jefferies Financial Group reiterated a “buy” rating on shares of LyondellBasell Industries in a report on Thursday. Alembic Global Advisors set a $120.00 price objective on LyondellBasell Industries and gave the stock a “buy” rating in a report on Monday. HSBC upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $124.00 price objective on the stock in a report on Friday, November 2nd. BMO Capital Markets set a $101.00 price objective on LyondellBasell Industries and gave the stock a “hold” rating in a report on Thursday, November 1st. Finally, Nomura decreased their price objective on LyondellBasell Industries from $113.00 to $102.00 and set a “neutral” rating on the stock in a report on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $116.23.

In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc bought 2,186,973 shares of the business’s stock in a transaction that occurred on Tuesday, November 13th. The shares were bought at an average cost of $95.60 per share, with a total value of $209,074,618.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 4,396,236 shares of company stock worth $418,088,113 over the last three months. 0.09% of the stock is owned by insiders.

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LyondellBasell Industries Company Profile

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: Bear Market

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

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