Fernwood Investment Management LLC Cuts Stake in LyondellBasell Industries NV (NYSE:LYB)

Fernwood Investment Management LLC trimmed its position in shares of LyondellBasell Industries NV (NYSE:LYB) by 6.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 7,475 shares of the specialty chemicals company’s stock after selling 500 shares during the quarter. Fernwood Investment Management LLC’s holdings in LyondellBasell Industries were worth $644,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in LYB. Dimensional Fund Advisors LP raised its holdings in LyondellBasell Industries by 18.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,496,178 shares of the specialty chemicals company’s stock valued at $124,420,000 after buying an additional 229,894 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of LyondellBasell Industries by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 4,325,044 shares of the specialty chemicals company’s stock worth $359,186,000 after acquiring an additional 203,826 shares during the last quarter. Truvestments Capital LLC acquired a new position in shares of LyondellBasell Industries in the first quarter worth $33,000. First Command Bank raised its holdings in shares of LyondellBasell Industries by 64.4% in the first quarter. First Command Bank now owns 319 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 125 shares during the last quarter. Finally, Trilogy Capital Inc. acquired a new position in shares of LyondellBasell Industries in the first quarter worth $549,000. 76.55% of the stock is currently owned by institutional investors.

In other news, Director Jagjeet S. Bindra bought 1,360 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $73.48 per share, with a total value of $99,932.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

LYB has been the subject of a number of analyst reports. UBS Group boosted their price target on LyondellBasell Industries from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. BMO Capital Markets cut their price target on LyondellBasell Industries from $90.00 to $88.00 and set a “market perform” rating for the company in a report on Monday, August 5th. Nomura lowered their price objective on LyondellBasell Industries from $93.00 to $91.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Bank of America lowered their price objective on LyondellBasell Industries from $110.00 to $98.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. initiated coverage on LyondellBasell Industries in a research report on Friday, July 19th. They issued an “underweight” rating and a $80.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $102.18.

Shares of LYB stock traded down $0.50 on Thursday, reaching $72.21. The stock had a trading volume of 95,867 shares, compared to its average volume of 2,860,088. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 0.83. The stock’s 50-day moving average price is $83.22. The stock has a market capitalization of $24.44 billion, a price-to-earnings ratio of 6.46, a price-to-earnings-growth ratio of 0.78 and a beta of 1.31. LyondellBasell Industries NV has a 12 month low of $72.32 and a 12 month high of $116.63.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; 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 and copolymers.

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

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