ARGI Investment Services LLC Reduces Stake in LyondellBasell (LYB)

ARGI Investment Services LLC lessened its holdings in shares of LyondellBasell (NYSE:LYB) by 56.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,199 shares of the specialty chemicals company’s stock after selling 14,368 shares during the period. ARGI Investment Services LLC’s holdings in LyondellBasell were worth $1,184,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Mckinley Capital Management LLC Delaware boosted its holdings in shares of LyondellBasell by 4.6% during the 1st quarter. Mckinley Capital Management LLC Delaware now owns 130,699 shares of the specialty chemicals company’s stock valued at $13,812,000 after buying an additional 5,794 shares in the last quarter. American Century Companies Inc. boosted its stake in LyondellBasell by 14.0% in the 1st quarter. American Century Companies Inc. now owns 1,107,496 shares of the specialty chemicals company’s stock worth $117,040,000 after purchasing an additional 136,045 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in LyondellBasell by 14.3% in the 1st quarter. Meeder Asset Management Inc. now owns 60,583 shares of the specialty chemicals company’s stock worth $6,404,000 after purchasing an additional 7,597 shares in the last quarter. Pinnacle Financial Partners Inc. bought a new position in LyondellBasell in the 1st quarter worth about $215,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in LyondellBasell by 13.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 182,458 shares of the specialty chemicals company’s stock worth $19,282,000 after purchasing an additional 22,055 shares in the last quarter. Hedge funds and other institutional investors own 75.62% of the company’s stock.

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LYB opened at $104.60 on Tuesday. The company has a current ratio of 2.62, a quick ratio of 1.70 and a debt-to-equity ratio of 0.88. The stock has a market cap of $41.08 billion, a price-to-earnings ratio of 10.22, a P/E/G ratio of 1.06 and a beta of 1.10. LyondellBasell has a 52-week low of $78.01 and a 52-week high of $121.95.

LyondellBasell (NYSE:LYB) last posted its earnings results on Friday, April 27th. The specialty chemicals company reported $3.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.80 by $0.31. The business had revenue of $9.77 billion for the quarter, compared to analysts’ expectations of $9.43 billion. LyondellBasell had a net margin of 14.83% and a return on equity of 53.55%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.98 EPS. analysts expect that LyondellBasell will post 11.02 EPS for the current year.

A number of brokerages recently issued reports on LYB. Cowen dropped their price target on shares of LyondellBasell from $125.00 to $110.00 and set a “market perform” rating on the stock in a research note on Monday. MED reiterated a “buy” rating and issued a $140.00 price target on shares of LyondellBasell in a research note on Monday. Zacks Investment Research upgraded shares of LyondellBasell from a “sell” rating to a “hold” rating in a research note on Tuesday, May 1st. ValuEngine upgraded shares of LyondellBasell from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 1st. Finally, BMO Capital Markets began coverage on shares of LyondellBasell in a research note on Tuesday, March 27th. They issued an “outperform” rating and a $111.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $110.33.

LyondellBasell Profile

LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.

Institutional Ownership by Quarter for LyondellBasell (NYSE:LYB)

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