Seven Eight Capital LP Sells 53,200 Shares of LyondellBasell Industries NV (LYB)

Seven Eight Capital LP lowered its stake in LyondellBasell Industries NV (NYSE:LYB) by 44.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 65,236 shares of the specialty chemicals company’s stock after selling 53,200 shares during the period. Seven Eight Capital LP’s holdings in LyondellBasell Industries were worth $6,687,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its position in LyondellBasell Industries by 3.2% in the second quarter. Janus Henderson Group PLC now owns 5,463,921 shares of the specialty chemicals company’s stock worth $600,212,000 after acquiring an additional 167,440 shares in the last quarter. Morgan Stanley grew its position in LyondellBasell Industries by 9.9% in the second quarter. Morgan Stanley now owns 4,606,962 shares of the specialty chemicals company’s stock worth $506,075,000 after acquiring an additional 413,346 shares in the last quarter. Bank of New York Mellon Corp grew its position in LyondellBasell Industries by 1.5% in the second 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 acquiring an additional 64,786 shares in the last quarter. Waddell & Reed Financial Inc. grew its position in LyondellBasell Industries by 16.2% in the second quarter. Waddell & Reed Financial Inc. now owns 1,549,687 shares of the specialty chemicals company’s stock worth $170,233,000 after acquiring an additional 215,957 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in 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 worth $157,708,000 after acquiring an additional 726,524 shares in the last quarter. Institutional investors own 72.66% of the company’s stock.

Several research firms recently commented on LYB. Zacks Investment Research lowered LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 24th. 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. Cowen lifted their price target on LyondellBasell Industries from $110.00 to $113.00 and gave the stock a “market perform” rating in a research report on Friday, August 10th. Citigroup lifted their price target on LyondellBasell Industries from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, August 15th. Finally, ValuEngine lowered LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $117.46.

Shares of NYSE:LYB opened at $94.79 on Friday. LyondellBasell Industries NV has a 1 year low of $94.21 and a 1 year high of $121.95. The company has a market cap of $37.46 billion, a price-to-earnings ratio of 8.30, a price-to-earnings-growth ratio of 0.87 and a beta of 1.14. The company has a quick ratio of 1.51, a current ratio of 2.27 and a debt-to-equity ratio of 0.71.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, August 3rd. The specialty chemicals company reported $3.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.90 by $0.44. LyondellBasell Industries had a return on equity of 53.77% and a net margin of 15.51%. The business had revenue of $10.21 billion during the quarter, compared to analyst estimates of $9.11 billion. Analysts anticipate that LyondellBasell Industries NV will post 11.71 EPS for the current fiscal year.

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.

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

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