LyondellBasell Industries (NYSE:LYB) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. reduced its stake in LyondellBasell Industries (NYSE:LYB) by 36.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,581 shares of the specialty chemicals company’s stock after selling 7,732 shares during the period. Cornercap Investment Counsel Inc.’s holdings in LyondellBasell Industries were worth $1,302,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LYB. CIBC Asset Management Inc grew its position in shares of LyondellBasell Industries by 1.3% in the 3rd quarter. CIBC Asset Management Inc now owns 89,513 shares of the specialty chemicals company’s stock valued at $8,584,000 after buying an additional 1,156 shares during the last quarter. MeadowBrook Investment Advisors LLC acquired a new position in LyondellBasell Industries in the third quarter valued at $148,000. Lifeworks Advisors LLC grew its holdings in shares of LyondellBasell Industries by 31.5% during the third quarter. Lifeworks Advisors LLC now owns 26,884 shares of the specialty chemicals company’s stock worth $2,578,000 after purchasing an additional 6,436 shares during the last quarter. KBC Group NV increased its position in shares of LyondellBasell Industries by 29.0% during the third quarter. KBC Group NV now owns 484,058 shares of the specialty chemicals company’s stock worth $46,421,000 after purchasing an additional 108,928 shares in the last quarter. Finally, Hourglass Capital LLC lifted its holdings in shares of LyondellBasell Industries by 21.2% in the 3rd quarter. Hourglass Capital LLC now owns 83,882 shares of the specialty chemicals company’s stock valued at $8,044,000 after purchasing an additional 14,645 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Trading Down 1.1 %

Shares of LYB opened at $82.56 on Friday. LyondellBasell Industries has a twelve month low of $82.20 and a twelve month high of $107.02. 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 firm has a market capitalization of $26.81 billion, a P/E ratio of 12.57, a PEG ratio of 2.33 and a beta of 1.08. The firm’s 50-day moving average is $91.58 and its two-hundred day moving average is $95.15.

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 analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the previous year, the firm posted $2.46 earnings per share. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, research analysts predict that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LYB. Royal Bank of Canada decreased their price target on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their price target on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Mizuho reduced their price objective on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Piper Sandler lowered their target price on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Finally, Barclays cut their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $101.70.

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.