Concord Asset Management LLC VA Grows Holdings in LyondellBasell Industries (NYSE:LYB)

Concord Asset Management LLC VA increased its position in LyondellBasell Industries (NYSE:LYB) by 9.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,954 shares of the specialty chemicals company’s stock after acquiring an additional 443 shares during the quarter. Concord Asset Management LLC VA’s holdings in LyondellBasell Industries were worth $475,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in LyondellBasell Industries by 6.3% during the 3rd quarter. Principal Financial Group Inc. now owns 307,496 shares of the specialty chemicals company’s stock valued at $29,489,000 after buying an additional 18,311 shares in the last quarter. Foresight Capital Management Advisors Inc. purchased a new stake in LyondellBasell Industries during the 2nd quarter valued at approximately $1,416,000. PGGM Investments grew its holdings in LyondellBasell Industries by 47.9% during the 2nd quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock valued at $2,119,000 after buying an additional 7,168 shares in the last quarter. Capital World Investors grew its holdings in LyondellBasell Industries by 28.9% during 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 buying an additional 600,554 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in LyondellBasell Industries by 99.4% during the 1st quarter. Bessemer Group Inc. now owns 19,674 shares of the specialty chemicals company’s stock valued at $2,013,000 after buying an additional 9,809 shares in the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LYB. Mizuho cut their price objective on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Wells Fargo & Company cut their price objective on shares of LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their target price on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Monday, November 4th. StockNews.com upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on 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 equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $101.70.

LyondellBasell Industries Stock Up 0.1 %

Shares of LYB opened at $82.65 on Friday. The company has a market cap of $26.84 billion, a PE ratio of 12.58, a P/E/G ratio of 2.31 and a beta of 1.08. The business has a fifty day moving average of $91.13 and a 200 day moving average of $94.90. LyondellBasell Industries has a 52-week low of $82.20 and a 52-week high of $107.02. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The company had revenue of $10.33 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.46 earnings per share. On average, sell-side analysts expect that LyondellBasell Industries will post 7.09 EPS for the current year.

About LyondellBasell Industries

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.