Foundry Partners LLC Increases Stake in LyondellBasell Industries NV (LYB)

Foundry Partners LLC increased its stake in LyondellBasell Industries NV (NYSE:LYB) by 18.3% in the 3rd quarter, Holdings Channel reports. The firm owned 197,706 shares of the specialty chemicals company’s stock after purchasing an additional 30,591 shares during the period. LyondellBasell Industries accounts for approximately 0.8% of Foundry Partners LLC’s holdings, making the stock its 20th biggest position. Foundry Partners LLC’s holdings in LyondellBasell Industries were worth $20,267,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Scopus Asset Management L.P. acquired a new stake in LyondellBasell Industries in the 2nd quarter worth approximately $10,985,000. Northwest Bancshares Inc. increased its position in LyondellBasell Industries by 125.7% in the 2nd quarter. Northwest Bancshares Inc. now owns 10,424 shares of the specialty chemicals company’s stock worth $1,145,000 after buying an additional 5,806 shares during the period. Bridgewater Associates LP increased its position in LyondellBasell Industries by 1.9% in the 2nd quarter. Bridgewater Associates LP now owns 98,512 shares of the specialty chemicals company’s stock worth $10,822,000 after buying an additional 1,866 shares during the period. Bank of New York Mellon Corp increased its position in LyondellBasell Industries by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,331,592 shares of the specialty chemicals company’s stock worth $475,825,000 after buying an additional 64,786 shares during the period. Finally, Regal Investment Advisors LLC bought a new position in LyondellBasell Industries in the 2nd quarter worth approximately $236,000. Hedge funds and other institutional investors own 72.61% of the company’s stock.

Several brokerages have commented on LYB. Citigroup reaffirmed a “buy” rating and issued a $122.00 price target on shares of LyondellBasell Industries in a research report on Tuesday, July 10th. ValuEngine downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Zacks Investment Research raised LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research report on Thursday, October 4th. Standpoint Research raised LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. Finally, BMO Capital Markets lifted their price target on LyondellBasell Industries from $111.00 to $112.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $117.46.

Shares of LYB traded down $1.41 on Wednesday, reaching $96.22. 170,734 shares of the stock traded hands, compared to its average volume of 2,285,474. The stock has a market cap of $39.91 billion, a PE ratio of 9.55, a P/E/G ratio of 0.92 and a beta of 1.14. The company has a current ratio of 2.27, a quick ratio of 1.51 and a debt-to-equity ratio of 0.71. LyondellBasell Industries NV has a 12 month low of $96.19 and a 12 month high of $121.95.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, August 3rd. The specialty chemicals company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.44. The business had revenue of $10.21 billion for the quarter, compared to analysts’ expectations of $9.11 billion. LyondellBasell Industries had a return on equity of 53.77% and a net margin of 15.51%. Equities analysts forecast that LyondellBasell Industries NV will post 11.67 earnings per share for the current fiscal year.

LyondellBasell Industries 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: What is Considered a Good Return on Equity (ROE)?

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

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