Jennison Associates LLC Purchases Shares of 13,937 LyondellBasell Industries (NYSE:LYB)


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Jennison Associates LLC purchased a new stake in LyondellBasell Industries (NYSE:LYB) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 13,937 shares of the specialty chemicals company’s stock, valued at approximately $1,277,000.

Other hedge funds also recently bought and sold shares of the company. Founders Capital Management purchased a new position in shares of LyondellBasell Industries in the 4th quarter valued at about $30,000. Norway Savings Bank purchased a new position in shares of LyondellBasell Industries in the 4th quarter valued at about $34,000. CNB Bank increased its holdings in shares of LyondellBasell Industries by 33.5% in the 3rd quarter. CNB Bank now owns 582 shares of the specialty chemicals company’s stock valued at $41,000 after acquiring an additional 146 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of LyondellBasell Industries in the 4th quarter valued at about $43,000. Finally, Hudock Inc. increased its holdings in shares of LyondellBasell Industries by 27.8% in the 4th quarter. Hudock Inc. now owns 501 shares of the specialty chemicals company’s stock valued at $45,000 after acquiring an additional 109 shares during the last quarter. 67.61% of the stock is currently owned by institutional investors.

A number of research firms have recently commented on LYB. Morgan Stanley increased their price objective on LyondellBasell Industries from $85.00 to $96.00 and gave the company an “overweight” rating in a report on Monday, December 14th. Argus upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a report on Tuesday, February 2nd. Sanford C. Bernstein downgraded LyondellBasell Industries from an “outperform” rating to a “market perform” rating and set a $83.00 price target on the stock. in a research note on Friday, November 13th. JPMorgan Chase & Co. raised their price target on LyondellBasell Industries from $85.00 to $104.00 in a research note on Friday, January 22nd. Finally, BNP Paribas downgraded LyondellBasell Industries from a “neutral” rating to an “underperform” rating and set a $80.00 price target on the stock. in a research note on Wednesday, January 6th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. LyondellBasell Industries has a consensus rating of “Hold” and an average target price of $76.74.

In other news, SVP Kimberly A. Foley sold 2,261 shares of the firm’s stock in a transaction that occurred on Monday, February 22nd. The stock was sold at an average price of $103.50, for a total value of $234,013.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ai Investments Holdings Llc sold 90,881 shares of LyondellBasell Industries stock in a transaction on Wednesday, December 2nd. The stock was sold at an average price of $86.01, for a total value of $7,816,674.81. The disclosure for this sale can be found here. Insiders sold a total of 93,462 shares of company stock valued at $8,080,531 over the last three months. Insiders own 0.18% of the company’s stock.

LyondellBasell Industries stock opened at $102.92 on Tuesday. The company has a current ratio of 2.25, a quick ratio of 1.41 and a debt-to-equity ratio of 1.88. The stock has a 50 day moving average of $93.81 and a two-hundred day moving average of $81.79. The stock has a market capitalization of $34.37 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 1.58 and a beta of 1.55. LyondellBasell Industries has a twelve month low of $33.71 and a twelve month high of $104.22.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Thursday, January 28th. The specialty chemicals company reported $2.19 EPS for the quarter, beating the consensus estimate of $1.36 by $0.83. The business had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $7.06 billion. LyondellBasell Industries had a return on equity of 24.09% and a net margin of 4.23%. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the firm earned $1.92 EPS. Equities analysts predict that LyondellBasell Industries will post 4.77 earnings per share for the current year.

About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsÂAmericas; Olefins and PolyolefinsÂEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.

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

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