Plato Investment Management Ltd Makes New Investment in LyondellBasell Industries (NYSE:LYB)

Plato Investment Management Ltd acquired a new stake in LyondellBasell Industries (NYSE:LYB) in the 3rd quarter, HoldingsChannel reports. The fund acquired 966 shares of the specialty chemicals company’s stock, valued at approximately $93,000.

A number of other hedge funds have also recently modified their holdings of the stock. Pacer Advisors Inc. lifted its holdings in LyondellBasell Industries by 13.6% in the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after acquiring an additional 579,300 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of LyondellBasell Industries by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock valued at $449,175,000 after purchasing an additional 170,464 shares in the last quarter. Capital World Investors lifted its stake in shares of LyondellBasell Industries by 28.9% in the 1st quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after purchasing an additional 600,554 shares during the period. Envestnet Asset Management Inc. boosted its holdings in LyondellBasell Industries by 0.6% during the second quarter. Envestnet Asset Management Inc. now owns 1,065,083 shares of the specialty chemicals company’s stock worth $101,886,000 after buying an additional 6,760 shares in the last quarter. Finally, Raymond James & Associates grew its position in LyondellBasell Industries by 0.4% during the third quarter. Raymond James & Associates now owns 912,538 shares of the specialty chemicals company’s stock valued at $87,512,000 after buying an additional 3,394 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

NYSE:LYB opened at $82.65 on Friday. The company has a market cap of $26.84 billion, a P/E ratio of 12.58, a P/E/G ratio of 2.33 and a beta of 1.08. LyondellBasell Industries has a twelve month low of $82.20 and a twelve month high of $107.02. The company’s 50-day moving average price is $91.35 and its 200-day moving average price is $95.07. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The business had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the business earned $2.46 earnings per share. On average, sell-side analysts forecast that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on LYB. Wells Fargo & Company lowered their target price on shares of LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Piper Sandler dropped their price objective on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft reduced their target price on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Mizuho dropped their price target on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $101.70.

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.