MWA Asset Management Cuts Position in LyondellBasell Industries (NYSE:LYB)

MWA Asset Management lowered its position in LyondellBasell Industries (NYSE:LYB) by 9.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,110 shares of the specialty chemicals company’s stock after selling 415 shares during the quarter. MWA Asset Management’s holdings in LyondellBasell Industries were worth $394,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors grew its stake in shares of LyondellBasell Industries by 28.9% during the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock worth $273,671,000 after purchasing an additional 600,554 shares in the last quarter. Ilex Capital Partners UK LLP acquired a new position in shares of LyondellBasell Industries during the 1st quarter worth about $61,327,000. Pacer Advisors Inc. increased its holdings in shares of LyondellBasell Industries by 13.6% in the 2nd 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 last quarter. Ensign Peak Advisors Inc raised its position in shares of LyondellBasell Industries by 80.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock worth $74,523,000 after acquiring an additional 347,877 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in LyondellBasell Industries during the second quarter worth approximately $17,683,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $82.20 on Wednesday. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. The company’s 50-day moving average price is $90.67 and its 200 day moving average price is $94.64. LyondellBasell Industries has a 52 week low of $81.91 and a 52 week high of $107.02. The stock has a market cap of $26.70 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 2.31 and a beta of 1.08.

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

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. Royal Bank of Canada lowered their price objective on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Mizuho dropped their target price on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. 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. Finally, Wells Fargo & Company decreased 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 report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, LyondellBasell Industries currently has an average rating of “Hold” and an average target price of $101.70.

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.