Intech Investment Management LLC Sells 59,446 Shares of LyondellBasell Industries (NYSE:LYB)

Intech Investment Management LLC decreased its position in LyondellBasell Industries (NYSE:LYB) by 38.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 96,630 shares of the specialty chemicals company’s stock after selling 59,446 shares during the period. Intech Investment Management LLC’s holdings in LyondellBasell Industries were worth $9,267,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Capital World Investors lifted its stake in shares of 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 worth $273,671,000 after buying an additional 600,554 shares during the last quarter. Ilex Capital Partners UK LLP bought a new stake in shares of LyondellBasell Industries during the 1st quarter worth $61,327,000. Pacer Advisors Inc. grew its holdings in shares of LyondellBasell Industries by 13.6% during 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 purchasing an additional 579,300 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of LyondellBasell Industries by 80.7% during the second quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock worth $74,523,000 after buying an additional 347,877 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in LyondellBasell Industries in the second quarter valued at about $17,683,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Barclays reduced their price objective on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their price objective 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. JPMorgan Chase & Co. cut their target price on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Finally, Piper Sandler cut their price target on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $101.70.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $82.86 on Friday. 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 has a fifty day simple moving average of $90.22 and a 200 day simple moving average of $94.47. LyondellBasell Industries has a 12-month low of $81.45 and a 12-month high of $107.02. The company has a market cap of $26.91 billion, a P/E ratio of 12.61, a PEG ratio of 2.30 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last posted its 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 return on equity of 17.05% and a net margin of 5.29%. The business had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the previous year, the firm earned $2.46 earnings per share. The company’s revenue was down 2.8% on a year-over-year basis. Sell-side analysts predict that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

LyondellBasell Industries Profile

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.